Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,125,000
Hotels
2503 Locust St Grand Island, NE 68801-8225
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US57-0270194
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1963
Total area
35,482 SF
Lot
5.82 ac (253,539 SF)
Zoning code
03-COMMERCIAL
APN
400063166
UPID
US57-0270194
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
-
Ramada by Wyndham Midtown Grand Island Hotel & Motel
-
Images Bar & Grill Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.12M
Blend (final)
Blend
$2.13M
Owner & transaction history
Calm Nights LLC · 9 yrs held
Calm Nights LLC
since 2017
3 recorded transactions
Zoning & alternative use
03-COMMERCIAL · Grand Island, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.4M
+170.9%
Apartment house (5+ units)
$3.3M
+164.2%
Warehouse, storage
$3.0M
+143.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,380,000
Change: +171% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,300,000
Change: +164% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,040,000
Change: +144% · Conversion: Difficult
Blend value · Realmo final
$2.13M
Range $1.91M – $2.34M · ±10%
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
$60 / 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
$111,342
Tax year 2022
Assessed value
$6,127,340
Assessed 2023
Previous assessed
$6,127,340
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$362,420
Assessed improvement
$5,764,920
Land market value
$362,420
Improvement market value
$5,764,920
Total market value
$6,127,340
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1963
Heating
ELECTRIC
Buildings
2
Stories
2
Total area
35,482 SF
Lot
5.82 ac (253,539 SF)
Zoning code
03-COMMERCIAL
APN
400063166
UPID
US57-0270194
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
AUTO REPAIR, GARAGE
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
WAREHOUSE, STORAGE
Est. value
$3.0M
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1963
Heating
ELECTRIC
Stories
2
Buildings
2
Lot
5.82 ac
Current owner
From public records · entity-resolved
Calm Nights LLC
Entity
Mailing address
2503 S LOCUST ST, GRAND ISLAND, NE 68801-8225
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2017
—
Calm Nights LLC
—
Deed
related
$349,700 · Midwest Bank
May 18, 2016
—
Calm Nights L L C
—
Deed
related
$3,346,092 · Midwest Bank
—
—
Calm Nights LLC
—
Loan Modification
related
$2,325,072 · Midwest Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2503 Locust St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
