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Property profile & analytics
OFF-MARKET
Estimated value
$1,135,000
Warehouses
438 Industrial Ln Grand Island, NE 68803-5210
Entity Owned
19-yr Hold
Free & Clear
Property ID
US57-0355754
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2010
Total area
10,000 SF
Lot
2.52 ac (109,955 SF)
Zoning code
04-INDUSTRIAL
APN
400411903
UPID
US57-0355754
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
-
Valley Vending Services Big Box & Wholesale Store
-
Yellow Van Cleaning & Restoration Hardware & Home Improvement Construction Company
-
Northwest Respiratory Services Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$1.14M
Owner & transaction history
L & P Investments LLC · 19 yrs held
L & P Investments LLC
since 2007
2 recorded transactions
Zoning & alternative use
04-INDUSTRIAL · Grand Island, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+99.3%
Office building
$1.6M
+95.8%
Retail stores
$1.1M
+25.8%
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%
$1,140,000
6.5%
$1,050,000
7%
$975,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$835,000
Current use
COMMERCIAL (GENERAL)
$1,660,000
Change: +99% · Conversion: Difficult
OFFICE BUILDING
$1,630,000
Change: +96% · Conversion: Difficult
RETAIL STORES
$1,050,000
Change: +26% · Conversion: Moderate
RESTAURANT
$985,000
Change: +18% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$945,000
Change: +14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$910,000
Change: +9% · Conversion: Easy
MEDICAL BUILDING
$705,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.14M
Range $1.02M – $1.25M · ±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
$114 / 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
$18,687
Tax year 2022
Assessed value
$1,028,368
Assessed 2023
Previous assessed
$1,028,368
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$98,439
Assessed improvement
$929,929
Land market value
$98,439
Improvement market value
$929,929
Total market value
$1,028,368
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
Similar Nearby for Lease
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2010
Heating
NONE
Buildings
2
Stories
1
Total area
10,000 SF
Lot
2.52 ac (109,955 SF)
Zoning code
04-INDUSTRIAL
APN
400411903
UPID
US57-0355754
Jurisdiction
HALL
Zoning & alternative use
04-INDUSTRIAL · Grand Island, NE
Zoning 04-INDUSTRIAL · permitted uses
04-INDUSTRIAL · 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
WAREHOUSE, STORAGE Current
Est. value
$835,000
COMMERCIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.1M
RESTAURANT
Est. value
$985,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$945,000
AUTO REPAIR, GARAGE
Est. value
$910,000
MEDICAL BUILDING
Est. value
$705,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2010
Heating
NONE
Stories
1
Buildings
2
Lot
2.52 ac
Current owner
From public records · entity-resolved
L & P Investments LLC
Entity
Free & Clear · 19 yrs held
Mailing address
429 INDUSTRIAL LN, GRAND ISLAND, NE 68803-5239
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 21, 2007
$210,000
L & P Investments LLC
Mr Gs Car Care Center INC
Grant Deed
—
May 16, 2007
$126,667
Mr Gs Car Care Center INC
Jacobson,gary R
Grant Deed
—
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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