1404 & 1420 Rodeo Rd - Apartments FOR SALE


North Platte, NE 69101
$850,000 USD
308-530-7129
1404 & 1420 Rodeo Rd, North Platte, NE for Sale
$850,000 USD
Apartments - FOR SALE
1/34
null | Request Cap Rate

1404 & 1420 Rodeo Rd
North Platte, NE 69101


HIGHLIGHTS

  • INVESTMENT HIGHLIGHTS
  • Converted motel with 51 potential units.
  • 46- Studio units and 5- 1 Bedroom units
  • There is immense potential to increase revenue through strategic updates and competitive growth potential

OVERVIEW

INVESTMENT OPPORTUNITY. A converted motel that features 51 total units across three continuous buildings, with 44 currently rentable, offering strong potential cash flow. The 46 studio units are simple and easy to maintain, and in quality condition. There are 5 one- bedroom units, two of which can be built out by new ownership. There is immense potential to increase revenue through strategic updates and modernized approach, as only roughly 60% of the total units are currently being rented. North Platte is home to local attractions and major transportation routes, including Union Pacific Railroads, Bailey Yard. Also, with many new developments in the area, including a beef packing plant, Sustainable Beef, scheduled to be fully operational Spring 2025, employing over 800 employees that will bring housing in much needed demand, thus creating potential increase in competitive revenue.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$50 USD /SF

# OF UNITS

51

PRICE/UNIT

$16,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

PARKING SPACES

51

LAND DETAILS

LAND ACRES

2.11 AC

LAND SF

91,912 SF

ZONING

-

APN/PARCEL ID

0017690.00,0024055.00

ASK ABOUT THIS PROPERTY

Joy EplerColdwell Banker Preferred GroupMore Info
308-530-7129

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Joy EplerColdwell Banker Preferred GroupMore Info
308-530-7129

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.