$292,640

345 N 23rd Street, Lincoln, NE 68503

Land
Built in ——
—— sqft lot
—— car garage
$——/sqft
Listed 4 months ago

Property Description

This property has a 99 year ground lease in place which began July 1, 2021. The lease is an absolute NNN, with no landlord responsibilities or expenses. The monthly rent July 1, 2025 is $1585.14. The annual rental increases are 2%, or the consumer price index, whichever is greater. The property is improved with a $3,750,000 mixed use building that includes retail and housing. The price is based on a cap rate of 6, which is excellent for a ground lease with rate bumps. Typical rate bumps are at 5-10 year increments and are annual and compounding. Offers will require a three week response time to an RFR. The property itself is free and clear, and not subject to any debt on the improvements.

Listing Status:: Active
Listing Office:: Woods Bros Realty : 402-434-3500
Listing Agent:: Joe Mara : 402-304-0540
MLS ID:: 22517485

Road/Access: City Street
Originating MLS: Great Plains Regional MLS
School District: Lincoln
County: Lancaster

Zoning: Antelope Square 2nd Addition Lot 11024243015000
Fencing: None
Current Use: Other

Utilities: Electricity AvailableNatural Gas AvailableWater AvailableSewer AvailableStorm SewerPhone AvailableFiber OpticCable AvailableElectricity on Property
Water: Public
Sewer: Public Sewer

Source: Great Plains Regional MLS
Ownership: Fee Simple

This listing courtesy of Joe Mara, Woods Bros Realty

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Elliott Elementary School

225 S 25th St, Lincoln, NE, 68510

Grades PK-5

0.36 miles away

Lefler Middle School

1100 S 48th St, Lincoln, NE, 68510

Grades 6-8

2.12 miles away

Lincoln High School

2229 J St, Lincoln, NE, 68510

Grades 9-12

0.63 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.