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Property profile & analytics
OFF-MARKET
Estimated value
$6,640,000
Super regional malls
2300 Webb Rd Grand Island, NE 68803-1761
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US57-0298124
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1972
Construction
CONCRETE BLOCKS
Total area
83,763 SF
Lot
8.39 ac (365,294 SF)
Zoning code
03-COMMERCIAL
APN
400149826
UPID
US57-0298124
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hibbett Sports Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Harbor Freight Tools Building Supply Hardware & Home Improvement
-
Spring City Indoor Trampoline Park Arcade & Gaming Center Family Recreation Center
-
Ombudsman Grand Island Training Center Tutoring Service
-
Dollar Tree Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.64M
Owner & transaction history
Island Strip LLC · 3 yrs held
Island Strip LLC
since 2022
Last sale
$6.8M
2 recorded transactions
Zoning & alternative use
03-COMMERCIAL · Grand Island, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$8.8M
+270.5%
Restaurant
$8.3M
+248.8%
Apartment house (5+ units)
$7.9M
+234.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Grand Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Island submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$6,720,000
ML approach
$6,305,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$8,780,000
Change: +270% · Conversion: Easy
RESTAURANT
$8,265,000
Change: +249% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$7,930,000
Change: +235% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,635,000
Change: +222% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,980,000
Change: +195% · Conversion: Difficult
Blend value · Realmo final
$6.64M
Range $5.98M – $7.30M · ±10% · vs last sale $6.77M (Dec 30 2022)
Last sale anchor
$6.77M
Dec 30 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$79 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$126,350
Tax year 2022
Assessed value
$6,953,263
Assessed 2023
Previous assessed
$6,953,263
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$1,642,653
Assessed improvement
$5,310,610
Land market value
$1,642,653
Improvement market value
$5,310,610
Total market value
$6,953,263
Applied tax rate
5,036.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1972
Construction
CONCRETE BLOCKS
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
1
Total area
83,763 SF
Lot
8.39 ac (365,294 SF)
Zoning code
03-COMMERCIAL
APN
400149826
UPID
US57-0298124
Jurisdiction
HALL
Zoning & alternative use
03-COMMERCIAL · Grand Island, NE
Zoning 03-COMMERCIAL · permitted uses
03-COMMERCIAL · Grand Island, NE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$8.8M
RESTAURANT
Est. value
$8.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.9M
AUTO REPAIR, GARAGE
Est. value
$7.6M
WAREHOUSE, STORAGE
Est. value
$7.0M
RETAIL STORES
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1972
Construction
CONCRETE BLOCKS
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
8.39 ac
Current owner
From public records · entity-resolved
Island Strip LLC
Entity
Mailing address
PO BOX 184, SEWARD, NE 68434-0184
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2022
$6,770,000
Island Strip LLC
Gordman Grand Island LLC
Warranty Deed
$5,416,000 · City Bank & Trust
Nov 14, 2018
—
Gordman Grand Island L L C
—
Deed
related
$2,730,000 · Security National Bank Of Omaha
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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