Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Motels
3205 Locust St Grand Island, NE 68801-8869
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US57-0333721
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1984
Total area
23,000 SF
Lot
3.03 ac (131,987 SF)
Zoning code
03-COMMERCIAL
APN
400148390
UPID
US57-0333721
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
-
Super 8 by Wyndham Grand Island South Hotel & Motel
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$630k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$639k
Blend (final)
Blend
$635k
Owner & transaction history
Saraswati LLC · 8 yrs held
Saraswati LLC
since 2018
4 recorded transactions
Zoning & alternative use
03-COMMERCIAL · Grand Island, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$810,000
Current use
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$28 / 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
$31,637
Tax year 2022
Assessed value
$1,741,054
Assessed 2023
Previous assessed
$1,741,054
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$246,934
Assessed improvement
$1,494,120
Land market value
$246,934
Improvement market value
$1,494,120
Total market value
$1,741,054
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1984
Heating
FLOOR/WALL FURNACE
Stories
2
Units
1
Total area
23,000 SF
Lot
3.03 ac (131,987 SF)
Zoning code
03-COMMERCIAL
APN
400148390
UPID
US57-0333721
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
HOTEL/MOTEL Current
Est. value
$810,000
HOTEL/MOTEL Current
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
1984
Heating
FLOOR/WALL FURNACE
Stories
2
Units
1
Lot
3.03 ac
Current owner
From public records · entity-resolved
Saraswati LLC
Entity
Mailing address
3208 S LOCUST ST, GRAND ISLAND, NE 68801-8870
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2018
$1,553,000
Saraswati LLC
Milton Motesl LLC
Warranty Deed
$1,293,750 · Adams Bank & Trust
Dec 8, 2016
—
Milton Motels LLC
—
Deed
related
$75,000 · Equitable Bank
Apr 13, 2006
—
Milton Motels LLC
Milton,richard & Sandra
Quit Claim Deed
related
—
Apr 13, 2006
$635,000
Richard Milton
Integrated Holdings INC
Grant Deed
related
—
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 3205 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.
