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

    3522 2nd St Grand Island, NE 68803-5242

    • Manufacturing properties
    • 5,040 SF
    OFF-MARKET
    Value Estimations
    $350,000
    Show details
    Cap Rate Potential
    9.5%
    Manufacturing properties
    Location Intelligence
    Property ID
    US57-0321083
    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

    • Spelts-Schultz Truss Manufacturing / Truss Manufacturer

    Property Details for 3522 2nd St

    Year built
    1970
    Property size
    5,040 SF
    Zone code
    03-COMMERCIAL
    Property type
    Manufacturing properties
    APN
    400477076
    APU
    400477076

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $480,000
      6.5%
      $445,000
      7%
      $410,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $329,000
      Market price range: $97.1k - $410k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $265,000
      Current use
      RESTAURANT
      $495,000
      Change: +86% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $475,000
      Change: +78% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $460,000
      Change: +72% Conversion: Easy
      WAREHOUSE, STORAGE
      $420,000
      Change: +57% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Island
    County
    Hall
    State
    Nebraska
    Longitude
    -98.3772
    Latitude
    40.9102
    CBSA code
    24260
    CBSA name
    GRAND ISLAND, NE MICROPOLITAN 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
    2022
    $8,672
    $0.00
    $477,226
    $477,226
    -
    $0.00
    $477,226
    $477,226

    Comparable in this City

    • Value Estimation
      $255,000
      3,000 SF

      1209 Johnstown Rd

      MANUFACTURING (LIGHT) • 3,000 SF
      1209 Johnstown Rd, Grand Island, NE 68803
      View Details
    • Value Estimation
      $380,000
      2,268 SF

      2615 2nd St

      MANUFACTURING (LIGHT) • 2,268 SF
      2615 2nd St, Grand Island, NE 68803-5244
      View Details
    • Value Estimation
      $365,000
      18,625 SF

      114 Custer Ave

      MANUFACTURING (LIGHT) • 18,625 SF
      114 Custer Ave, Grand Island, NE 68803-4215
      View Details
    • Value Estimation
      $340,000
      16,332 SF

      3410 2nd St

      MANUFACTURING (LIGHT) • 16,332 SF
      3410 2nd St, Grand Island, NE 68803-5251
      View Details
    • Value Estimation
      $290,000
      3,240 SF

      1104 Claude Rd

      MANUFACTURING (LIGHT) • 3,240 SF
      1104 Claude Rd, Grand Island, NE 68803-5129
      View Details
    • Value Estimation
      $750,000
      38,880 SF

      3319 Is Cir

      MANUFACTURING (LIGHT) • 38,880 SF
      3319 Is Cir, Grand Island, NE 68803-5275
      View Details

    Similar Nearby for Sale

    • $123,237
      0.19 Acres

      Grand Island Commercial Land Opportunity

      Prime Commercial Lots, Vibrant Development
      3555 Innate Ln, Grand Island, NE 68803
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      Grand Island Commercial Land Parcel

      Prime 0.236-acre commercial lot.
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    • Contact for pricing
      1,500 SF

      Professional Office Space Available

      Office space featuring private offices and open work area.
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      View Details
    • $320,000
      7.46 Acres

      Grand Island Commercial Land Opportunity

      7.46 acres of land near business district.
      XXX S North Rd, Grand Island, NE 68803
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    • $62,000

      Residential Lot in Millennial Estates

      Residential lot available in Grand Island, close to amenities.
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    • $58,500

      Residential Lot in Fairway Crossings

      Residential lot at Indianhead Golf Course, Grand Island, Nebraska.
      3134 St Andrews Cir, Grand Island, NE 68803
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    Similar Nearby for Lease

    • $1,500 /Mo
      900 SF

      Grand Island Flex Space Available

      Flex space in high-traffic area near Hwy 281.
      3623 W 18Th St, Grand Island, NE 68803
      View Details
    • $10 SF/Yr
      18,540 SF

      Highway 30 Warehouse with Fenced Lot

      Grand Island warehouse with expansive fenced lot and retail space.
      3204 S Engleman Rd, Grand Island, NE 68803
      View Details
    • Contact for pricing

      Grand Island Commercial Land Outlot

      High-traffic Hwy 281 outparcel near Walmart
      2285 Diers Ave, Grand Island, NE 68803
      View Details
    • Contact for pricing
      130,960 SF

      Northwest Commons Retail Space

      Grand Island Retail Center: Multiple Suites Available
      2230 Webb Rd, Grand Island, NE 68803
      View Details
    • $17 SF/Yr
      13,816 SF

      Prime Hall County Office Suite

      1225 SF Office, All Utilities Included
      2550 Diers Ave, Grand Island, NE 68803
      View Details
    • $14 SF/Yr
      2,172 SF

      I-80 Grand Island Retail Space

      Prime Retail Location, High Visibility
      7838 Us Highway 281, Grand Island, NE 68803
      View Details
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    3522 2nd St
    Grand Island, NE 68803-5242
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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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