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.
383 days
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7
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0
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Zillow last checked:
Listing updated:
Listed by:
Joe Mara402-304-0540,
Woods Bros Realty
Source: GPRMLS,MLS#: 22517485
Facts & features
Property
Features
Fencing: None
Lot
Dimensions: 70.13 x 142016
Features: Under 1/4 Acre, City Lot, Corner Lot, Curb and Gutter, Curb Cut, Level
Details
Parcel number: 1024243015000
Utilities & green energy
Gas: Black Hills
Sewer: Public Sewer
Water: Public
Utilities for property: Electricity Available, Natural Gas Available, Water Available, Sewer Available, Storm Sewer, Phone Available, Fiber Optic, Cable Available
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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