Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    623 Grace Ave Grand Island, NE 68803-4333

    • Individual retail properties
    • 1,355 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0063512
    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

    • The Under Cuts / Beauty Salon / Hair Salon

    Property Details for 623 Grace Ave

    Year built
    1931
    Lot size
    0.23 lot acres
    Property size
    1,355 SF
    Zone code
    03-COMMERCIAL
    Property type
    Individual retail properties
    APN
    400017172
    APU
    400017172

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Island
    County
    Hall
    State
    Nebraska
    Longitude
    -98.3654
    Latitude
    40.924
    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
    $2,379
    $22,140
    $108,768
    $130,908
    -
    $22,140
    $108,768
    $130,908

    Comparable in this City

    • Value Estimation by Request
      6,540 SF

      3721 13th St

      GYM, HEALTH SPA • 6,540 SF
      3721 13th St, Grand Island, NE 68803-3205
      View Details
    • Value Estimation by Request
      907 SF

      2317 Webb Rd

      BARBER, HAIR SALON • 907 SF
      2317 Webb Rd, Grand Island, NE 68803-1743
      View Details
    • Value Estimation by Request
      6,250 SF

      510 Gold Rd

      GYM, HEALTH SPA • 6,250 SF
      510 Gold Rd, Grand Island, NE 68803-4922
      View Details
    • Value Estimation by Request
      1,178 SF

      620-624 Webb Rd

      BARBER, HAIR SALON • 1,178 SF
      620-624 Webb Rd, Grand Island, NE 68803
      View Details
    • Value Estimation by Request
      12,060 SF

      1002 Webb Rd

      GYM, HEALTH SPA • 12,060 SF
      1002 Webb Rd, Grand Island, NE 68803-3309
      View Details
    • Value Estimation by Request
      1,380 SF

      3537 13th St

      BARBER, HAIR SALON • 1,380 SF
      3537 13th St, Grand Island, NE 68803-3345
      View Details

    Similar Nearby for Sale

    • $260,000
      2,400 SF

      Grand Island Commercial Building For Sale

      Commercial building with large parking lot in high traffic area.
      2326 N Broadwell Ave, Grand Island, NE 68803
      View Details
    • $1,182,000
      3,226 SF

      Restaurant For Sale in Grand Island

      NN leased restaurant property with a strong tenant.
      2250 N Webb Rd, Grand Island, NE 68803
      View Details
    • Contact for pricing
      1.00 Acre

      Conestoga Marketplace Pad Sites

      Grand Island, NE commercial land
      3404 13Th St, Grand Island, NE 68803
      View Details
    • $1,948,156
      3.19 Acres

      Grand Island Commercial Land Opportunity

      Prime 3.19-acre commercial lot, high traffic area.
      2310 Webb Rd, Grand Island, NE 68803
      View Details
    • $62,000

      Residential Lot in Millennial Estates

      Residential lot near shopping, restaurants, and entertainment.
      1527 Sagewood Ave, Grand Island, NE 68803
      View Details
    • $54,500
      0.34 Acres

      Residential Lot on Golf Course

      Residential lot in desirable neighborhood with golf course frontage.
      4252 Turn Berry Cir, Grand Island, NE 68803
      View Details

    Similar Nearby for Lease

    • $799,999
      3,672 SF

      Retail/Medical Space on Busy Corner

      White box shell ready for custom medical or retail buildout.
      1915 N Webb Rd, Grand Island, NE 68803
      View Details
    • Contact for pricing
      1,072 SF

      Retail Spaces in Growing Center

      Retail spaces available in Grand Island's Northwest Crossing.
      3412-3430 W State St, 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
    • $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
    • Contact for pricing

      Grand Island Commercial Land Outlot

      High-traffic Hwy 281 outparcel near Walmart
      2285 Diers Ave, 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    623 Grace Ave
    Grand Island, NE 68803-4333
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.