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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2803 Folkways Blvd Lincoln, NE 68504-1234

    • Hotels
    • 54,066 SF
    • 1.99 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2024
    $7,250,000
    Value Estimations
    $7,250,000
    Show details
    Cap Rate Potential
    3.7%
    Hotels
    Location Intelligence
    Property ID
    US57-0532893
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sleep Inn & Suites Lincoln University Area / Hotel
    • MainStay Suites Lincoln University Area / Hotel / Extended Stay Hotel

    Property Details for 2803 Folkways Blvd

    Year built
    2015
    Lot size
    1.99 lot acres
    Property size
    54,066 SF
    Zone code
    B5
    Property type
    Hotels
    Property subtype
    Motels
    APN
    17-06-101-014-000
    APU
    1706101014000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,250,000
      ML approach
      $7,250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,167,000
      Market price range: $2.81M - $6.17M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $4,800,000
      Current use
      RETAIL STORES
      $11,480,000
      Change: +139% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,170,000
      Change: +29% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.6801
    Latitude
    40.8652
    CBSA code
    30700
    CBSA name
    LINCOLN, NE METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $97,270
    $843,000
    $4,599,300
    $5,442,300
    -
    $843,000
    $4,599,300
    $5,442,300

    Comparable in this City

    • Value Estimation
      $1,200,000
      23,660 SF

      6750 Wildcat Dr

      HOTEL/MOTEL • 23,660 SF
      6750 Wildcat Dr, Lincoln, NE 68504-3906
      View Details
    • Value Estimation
      $3,460,000
      54,902 SF

      7353 Husker Cir

      HOTEL/MOTEL • 54,902 SF
      7353 Husker Cir, Lincoln, NE 68504-9816
      View Details
    • Value Estimation
      $1,940,000
      31,086 SF

      6501 28th St

      HOTEL/MOTEL • 31,086 SF
      6501 28th St, Lincoln, NE 68504-9808
      View Details
    • Value Estimation
      $780,000
      4,164 SF

      5200 Cornhusker Hwy

      HOTEL/MOTEL • 4,164 SF
      5200 Cornhusker Hwy, Lincoln, NE 68504-1425
      View Details
    • Value Estimation
      $2,885,000
      73,027 SF

      5250 Cornhusker Hwy

      HOTEL/MOTEL • 73,027 SF
      5250 Cornhusker Hwy, Lincoln, NE 68504-1425
      View Details
    • Value Estimation
      $730,000
      47,490 SF

      305 50th St

      HOTEL/MOTEL • 47,490 SF
      305 50th St, Lincoln, NE 68504-3514
      View Details

    Similar Nearby for Sale

    • $462,000
      1.01 Acres

      Lincoln Commercial Land - King Ridge

      1.01 Acres, High-Traffic Location
      2900 Hill Rd, Lincoln, NE 68504
      View Details
    • Contact for pricing

      Lincoln Commercial Land Opportunity

      Prime Lincoln, Nebraska commercial land.
      27th St & Folkways Blvd, Lincoln, NE 68504
      View Details
    • Contact for pricing

      Development Opportunity on Cornhusker Highway

      Land for development with highway frontage and high traffic volume.
      5210 Cornhusker Hwy, Lincoln, NE 68504
      View Details
    • $350,000
      0.53 Acres

      Lincoln Commercial Land - Hwy Frontage

      High-traffic location, development ready.
      5210 Cornhusker Hwy, Lincoln, NE 68504
      View Details
    • $471,000
      1.03 Acres

      Lincoln Commercial Land - $471K

      Prime 1.03-acre commercial lot in Lincoln, NE.
      2800 Hill Rd, Lincoln, NE 68504
      View Details
    • $471,000
      44,866 SF

      Land Available in Lincoln, Nebraska

      Land for sale in Lincoln, Nebraska with 44,866 square feet.
      2800 North Hill Rd, Lincoln, NE 68504
      View Details

    Similar Nearby for Lease

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      Remodeled flex space with storage, dock door, and ample parking.
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    • Contact for pricing
      750 SF

      Retail Space Available For Rent

      750 SF retail space for rent in Lincoln, Nebraska.
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    • $14 SF/Yr
      2,670 SF

      Retail Space in High-Traffic Area

      Retail space available in a shopping center anchored by Target.
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    • $6 SF/Yr
      3,000 SF

      Lincoln Industrial Warehouse Space

      3,000 SF Warehouse - Lincoln, NE
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    • $12 SF/Yr
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      Lincoln Office Space for Lease

      Prime Lincoln office suites, flexible layouts.
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    • $14 SF/Yr
      12,550 SF

      Prime Retail Space, 48th & Street

      High-traffic corner location, Target & Super Saver anchored.
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      View Details

    Property Visit Statistics

    • Visits by month
      2.8k
    • Visitors by month
      2.2k
    • Avg Time on site
      8 min
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    Lincoln, NE 68504-1234
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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