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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Medical Office Space
603 Diers Ave Grand Island, NE 68803-4986
Entity Owned
19-yr Hold
Free & Clear
Property ID
US57-0336040
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Total area
7,199 SF
Lot
0.66 ac (28,605 SF)
Zoning code
03-COMMERCIAL
APN
400389002
UPID
US57-0336040
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
-
J Meyer Physician
-
Dr. J Paul P. Meyer, MD Physician
-
Med Care Inc Physician
-
Heartland Pain Clinics Physician
-
Fleer Sheila M Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$360k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$699k
Blend (final)
Blend
$530k
Owner & transaction history
Meridian Properties LLC · 19 yrs held
Meridian Properties LLC
since 2007
3 recorded transactions
Zoning & alternative use
03-COMMERCIAL · Grand Island, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$755,000
+48.4%
Restaurant
$710,000
+39.7%
Apartment house (5+ units)
$680,000
+34.1%
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
$360,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$510,000
Current use
RETAIL STORES
$755,000
Change: +48% · Conversion: Difficult
RESTAURANT
$710,000
Change: +40% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$680,000
Change: +34% · Conversion: Moderate
AUTO REPAIR, GARAGE
$655,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$600,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$74 / 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
$24,402
Tax year 2022
Assessed value
$1,342,888
Assessed 2023
Previous assessed
$1,342,888
+0.0% YoY
Effective rate
1.82%
On assessed value
Assessed land
$233,781
Assessed improvement
$1,109,107
Land market value
$233,781
Improvement market value
$1,109,107
Total market value
$1,342,888
Applied tax rate
45.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Heating
HEAT PUMP
Cooling
YES
Stories
1
Total area
7,199 SF
Lot
0.66 ac (28,605 SF)
Zoning code
03-COMMERCIAL
APN
400389002
UPID
US57-0336040
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
MEDICAL BUILDING Current
Est. value
$510,000
RETAIL STORES
Est. value
$755,000
RESTAURANT
Est. value
$710,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$680,000
AUTO REPAIR, GARAGE
Est. value
$655,000
WAREHOUSE, STORAGE
Est. value
$600,000
MEDICAL BUILDING Current
RETAIL STORES
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2007
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
0.66 ac
Current owner
From public records · entity-resolved
Meridian Properties LLC
Entity
Free & Clear · 19 yrs held
Mailing address
152 PONDEROSA CT, GRAND ISLAND, NE 68803-9638
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 2007
—
Meridian Properties LLC
Emp Dev LLC
Grant Deed
—
—
—
Meridian Properties LLC
—
Deed Of Trust
related
$860,000 · Exchange Bank
—
—
Meridian Properties LLC
—
Deed Of Trust
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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