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Property profile & analytics
FOR LEASE
Hotels
7838 Us Highway 281 Grand Island, NE 68803
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US57-0508310
For Lease
1 / 2
$14 SF/Yr
7838 Us Highway 281, Grand Island, NE 68803
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1967
Construction
CONCRETE BLOCKS
Total area
22,425 SF
Lot
6.1 ac (265,716 SF)
Zoning code
05-AGRICULTURAL
APN
400218496
UPID
US57-0508310
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.42M
Owner & transaction history
Asm Hotels LLC · 3 yrs held
Asm Hotels LLC
since 2022
4 recorded transactions
Zoning & alternative use
05-AGRICULTURAL · Grand Island, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.4M
+197.9%
Restaurant
$2.2M
+180.5%
Apartment house (5+ units)
$2.1M
+169.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,350,000
Change: +198% · Conversion: Difficult
RESTAURANT
$2,215,000
Change: +180% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,125,000
Change: +169% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,045,000
Change: +159% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,870,000
Change: +137% · Conversion: Difficult
Blend value · Realmo final
$1.42M
Range $1.28M – $1.56M · ±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
$63 / 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
$106,852
Tax year 2022
Assessed value
$3,830,855
Assessed 2023
Previous assessed
$3,830,855
+0.0% YoY
Effective rate
2.79%
On assessed value
Assessed land
$359,471
Assessed improvement
$3,471,384
Land market value
$359,471
Improvement market value
$3,471,384
Total market value
$3,830,855
Applied tax rate
376.0000
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
Hotels
Use group
HOTEL
Status
For Lease
Year built
1967
Construction
CONCRETE BLOCKS
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
150
Total area
22,425 SF
Lot
6.1 ac (265,716 SF)
Zoning code
05-AGRICULTURAL
APN
400218496
UPID
US57-0508310
Jurisdiction
HALL
Zoning & alternative use
05-AGRICULTURAL · Grand Island, NE
Zoning 05-AGRICULTURAL · permitted uses
05-AGRICULTURAL · 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
RETAIL STORES
Est. value
$2.4M
RESTAURANT
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.9M
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
1967
Construction
CONCRETE BLOCKS
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
150
Lot
6.1 ac
Current owner
From public records · entity-resolved
Asm Hotels LLC
Entity
Mailing address
7838 S US HWY 281, GRAND ISLAND, NE 68803-9127
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2022
—
Asm Hotels LLC
—
Deed
related
$6,800,000 · United Midwest Savings Bank NA
Dec 4, 2019
—
Deepak Sinha
—
Deed
related
$619,000 · Economic & Cmnty Dev Inst
Nov 20, 2018
—
Deepak Sinha
—
Grant Deed
related
$1,500,000 · Five Points Bk
—
—
Deepak Sinha
—
Deed Of Trust
related
$619,000 · Economic & Cmnty Dev Inst
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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