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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7838 Us 281 Grand Island, NE

    • Hotels
    • 22,425 SF
    • 6.10 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0508310
    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

    • Hotels

    Property Details for 7838 Us 281

    Year built
    1967
    Construction
    CONCRETE BLOCKS
    Lot size
    6.10 lot acres
    Property size
    22,425 SF
    Zone code
    05-AGRICULTURAL
    Property type
    Hotels
    APN
    400218496
    APU
    400218496

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,341,000
      Market price range: $394k - $1.34M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,350,000
      RESTAURANT
      $2,215,000
      APARTMENT HOUSE (5+ UNITS)
      $2,125,000
      AUTO REPAIR, GARAGE
      $2,045,000
      WAREHOUSE, STORAGE
      $1,870,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Island
    County
    Hall
    State
    Nebraska
    Longitude
    -98.3799
    Latitude
    40.8165
    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
    $106,852
    $359,471
    $3,471,384
    $3,830,855
    -
    $359,471
    $3,471,384
    $3,830,855

    Comparable in this City

    • Value Estimation
      $3,460,000
      73,016 SF

      805 Allen Dr

      HOTEL • 73,016 SF
      805 Allen Dr, Grand Island, NE 68803-3337
      View Details
    • Value Estimation
      $2,600,000
      46,170 SF

      3404 Faidley Ave

      HOTEL • 46,170 SF
      3404 Faidley Ave, Grand Island, NE 68803-3305
      View Details
    • Value Estimation by Request
      1,152 SF

      2620 Diers Ave

      HOTEL • 1,152 SF
      2620 Diers Ave, Grand Island, NE 68803-1215
      View Details
    • Value Estimation
      $830,000
      25,243 SF

      1716 Diers Ave

      HOTEL • 25,243 SF
      1716 Diers Ave, Grand Island, NE 68803-1227
      View Details
    • Value Estimation
      $1,610,000
      60,756 SF

      859 Allen Dr

      HOTEL • 60,756 SF
      859 Allen Dr, Grand Island, NE 68803-3337
      View Details
    • Value Estimation
      $1,140,000
      30,569 SF

      3535 State St

      HOTEL • 30,569 SF
      3535 State St, Grand Island, NE 68803-2343
      View Details

    Similar Nearby for Sale

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      48,996 SF

      Grand Island Hotel Investment Opportunity

      Hotel with 60 rooms, gym, and guest laundry.
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    • $154,151
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      Grand Island Commercial Land Parcel

      Prime 0.236-acre commercial lot.
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      Grand Island Commercial Land Opportunity

      Prime Commercial Lots, Vibrant Development
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      Grand Island Commercial Building For Sale

      Commercial building with large parking lot in high traffic area.
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    • $58,500

      Residential Lot in Fairway Crossings

      Residential lot at Indianhead Golf Course, Grand Island, Nebraska.
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    • $62,000

      Residential Lot in Millennial Estates

      Residential lot available in Grand Island, close to amenities.
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    Similar Nearby for Lease

    • Contact for pricing

      Grand Island Commercial Land Outlot

      High-traffic Hwy 281 outparcel near Walmart
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    • Contact for pricing
      130,960 SF

      Northwest Commons Retail Space

      Grand Island Retail Center: Multiple Suites Available
      2230 Webb Rd, Grand Island, NE 68803
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    • $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
    • $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
    • $15 SF/Yr
      34,815 SF

      Grand Island Office Space Available

      1,254 sq ft Medical/Creative Office
      2121 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
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    7838 Us 281
    Grand Island, NE
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    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
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