501 9th St Wakefield, NE 68784-5027
- Commercial real estate
- 3.99 lot acres
Current Use by Public Records
- Logan Creek Apartments / Apartment Building
Property Details for 501 9th St
- Lot size
- 3.99 lot acres
- Zone code
- 03-COMMERCIAL
- Property type
- Commercial real estate
- APN
- 0005491.63
- APU
- 549163
Description
This exceptional Class A multifamily investment opportunity presents a stunning, newly constructed (2023) apartment complex in Wakefield, Nebraska. The property boasts 60 units across two three-story buildings, totaling 250,000 square feet. The unit mix includes twelve one-bedroom, thirty-six two-bedroom, and twelve three-bedroom apartments, all currently at 100% occupancy. Each unit features modern amenities such as luxury vinyl plank flooring, open kitchens with stone countertops, and in-unit laundry. The property also includes 33 garages. A significant advantage is the inclusion of a Tax Increment Financing (TIF) loan valued at $1,650,000, spread over the next 15 years. Furthermore, the property includes adjacent land with completed utilities, site work, and plans for an additional building, offering substantial future expansion potential. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $723,537.40 and a compelling 6.5% capitalization rate. Detailed site plans and unit floor plans are available upon request. The asking price is $11,125,000, representing a price per square foot of $44.50. The property's APN is 0005491.63. This is a rare opportunity to acquire a high-performing, modern apartment complex with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wakefield
- County
- Wayne
- State
- Nebraska
- Longitude
- -96.8597
- Latitude
- 42.2612
