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Listed by Joe Mara Woods Bros Realty
$ 292,640
Est. payment /mo
Pending
345 N 23rd ST Lincoln, NE 68503
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Pending
Purchase Type For Sale
Subdivision Antelope Square
MLS Listing ID 22517485
HOA Y/N No
Lot Dimensions 70.13 x 142016
Property Sub-Type Unimproved Land
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.
Location
State NE
County Lancaster
Area Lancaster
Direction North of O Street on 23rd
Exterior
Fence None
Utilities Available Electricity Available, Natural Gas Available, Water Available, Sewer Available, Storm Sewer, Phone Available, Fiber Optic, Cable Available
Street Surface Asphalt
Building
Sewer Public Sewer
Water Public
Schools
Elementary Schools Elliott
Middle Schools Lefler
High Schools Lincoln High
School District Lincoln
Others
Ownership Fee Simple
NEARBY SCHOOLS & PROPERTIES
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