345 N 23rd StreetLincoln, NE 68503
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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.
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Lincoln is the capitol city of Nebraska and the state’s second largest city. While Lincoln has a dense suburban feel, Lincoln also has over 100 parks with over 99 miles of interconnecting trails. The downtown area of Lincoln is home to Nebraska’s State Capitol, the University of Nebraska-Lincoln, Historic Haymarket District and several art galleries and museums, performing arts centers, breweries and restaurants. With something for everyone, it’s no wonder Lincoln is frequently listed among the nationally ranked best cities to live in and buyer a house in the United States.
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| blank | Principal | Taxes | INS / PMI | Other | Total |
|---|---|---|---|---|---|
| Monthly | $1,757.20 | $102.42 | $326.54 | $0.00 | $2,186.16 |
| Yearly | $21,086.40 | $1,229.04 | $3,918.48 | $0.00 | $26,233.92 |
| Total | $632,592.00 | $36,871.20 | $79,633.20 | $0.00 | $749,096.40 |
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345 N 23rd Street, Lincoln, NE 68503.
345 N 23rd Street | MLS# 22517485
This land located at 345 N 23rd Street, Lincoln, NE 68503 is currently listed for sale with an asking price of $292,640. The property has approximately 70.13 x 142016 Acres. N 23rd Street is located within the Lincoln school district. Search Lincoln real estate on www.npdodge.com today.