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    3400 85th St Lincoln, NE 68507-9457

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    3400 85th St Lincoln, NE 68507-9457

    View on Map
    • Retail space
    • 172,392 SF
    • 16.87 lot acres
    Off-Market
    Property ID
    US57-0191930
    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.
    Value Estimations
    $15,595,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walmart Home Services / Social Service Agency
    • US Bank Mortgage / Loan Service / Bank
    • ecoATM / Electronics Vending Machine
    • Walmart Tech Services / Tech Support Center / (Bike/Boat/Book/etc) Store
    • Walmart Patio & Garden Services / Landscaping / General Contractor

    Property Details for 3400 85th St

    Year built
    2007
    Lot size
    16.87 lot acres
    Property size
    172,392 SF
    Zone code
    B2
    Property type
    Retail space
    APN
    17-11-302-001-000
    APU
    1711302001000

    Description

    This exceptional 2.58-acre commercial land parcel presents a unique investment opportunity in Northeast Lincoln, Nebraska. Strategically located at 3400 N 85th St, zip code 68507, this property boasts a prime B-2 zoning designation, opening doors to a variety of commercial uses. The site's significant advantage lies in its position as a Walmart outlot, ensuring high visibility and substantial foot traffic from the adjacent Walmart Supercenter. Potential uses include retail establishments and restaurants, with the possibility of drive-thru facilities. The property's location within a rapidly expanding area of Northeast Lincoln further enhances its appeal. Its proximity to the Sandhills Global Event Center adds to its strategic value, providing access to a large and diverse customer base. Furthermore, the land is adjacent to existing and planned multifamily developments, creating a synergistic environment and ensuring a strong potential for future growth and increased property value. This exceptional location offers unparalleled exposure and access to a thriving community. The 2.58 acres provide ample space for development, making it an ideal opportunity for investors seeking a high-impact commercial investment in a rapidly growing area. Lancaster County's robust economy and the area's consistent population growth make this a compelling investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $20,260,000
      Market price range: $18.1M - $53.9M
      AI Estimate
      $9,663,000
      Market price range: $8.56M - $26.2M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.6025
    Latitude
    40.8488
    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
    $185,885
    $4,409,500
    $6,058,100
    $10,467,600
    -
    $4,409,500
    $6,058,100
    $10,467,600

    Comparable in this City

    • Value Estimation
      $1,115,000
      7,360 SF

      3333 85th St

      RETAIL STORES (PERSONAL SERVICES) • 7,360 SF
      3333 85th St, Lincoln, NE 68507-9459
      View Details
    • Value Estimation
      $1,240,000
      8,111 SF

      2900 70th St

      RETAIL STORES (PERSONAL SERVICES) • 8,111 SF
      2900 70th St, Lincoln, NE 68507-2712
      View Details
    • Value Estimation
      $1,715,000
      9,858 SF

      2800 83rd St

      RETAIL STORES (PERSONAL SERVICES) • 9,858 SF
      2800 83rd St, Lincoln, NE 68507-9438
      View Details
    • Value Estimation
      $1,945,000
      14,983 SF

      6235 Havelock Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,983 SF
      6235 Havelock Ave, Lincoln, NE 68507-1236
      View Details
    • Value Estimation by Request
      3,089 SF

      6242 Havelock Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,089 SF
      6242 Havelock Ave, Lincoln, NE 68507
      View Details
    • Value Estimation
      $1,115,000
      7,371 SF

      2710 83rd St

      RETAIL STORES (PERSONAL SERVICES) • 7,371 SF
      2710 83rd St, Lincoln, NE 68507-3300
      View Details

    Similar Nearby for Sale

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      6,329 SF

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      Development-Ready Land Parcel

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      Development Land in Future Growth

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      15,120 SF

      Multi-Bay Industrial Property For Sale

      Well-maintained industrial property with multiple bays, south of I-80.
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      Industrial Building with Multiple Offices

      Industrial building featuring multiple offices and secured fenced area.
      3800 Touzalin Ave, Lincoln, NE 68507
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      Industrial Land on N. 84th

      I-1 zoned land with easy highway access.
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    Similar Nearby for Lease

    • $10 SF/Yr

      Retail or Office Space Available

      Flexible retail or office spaces with high visibility and natural light.
      2332 N Cotner Blvd, Lincoln, NE 68507
      View Details
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      Industrial Land Build-to-Suit Opportunity

      Industrial land available for build-to-suit near I-80.
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    • $9 SF/Yr
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      Versatile Industrial Space in Lincoln

      16,942 sq ft commercial space with warehouse and office.
      6140 Mccormick Dr, Lincoln, NE 68507
      View Details
    • Contact for pricing
      3,000 SF

      Office Space in Firethorn Center

      Office spaces available for lease in Lincoln's Firethorn Corporate Center.
      2810 S 87Th St, Lincoln, NE 68507
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      North Lincoln Industrial Space Available

      Industrial space for rent with highway frontage and easy access.
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      Warehouse with Office in Industrial Park

      Warehouse with office space, located near I-80 in industrial park.
      5900 N 58Th St, Lincoln, NE 68507
      View Details
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    Lincoln, NE 68507-9457
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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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