729 N Custer Ave - Medical FOR SALE


Grand Island, NE 68803
$3,299,999 USD
303-328-2050
729 N Custer Ave, Grand Island, NE for Sale
$3,299,999 USD
Medical - FOR SALE
1/17
null | 10.54% Cap Rate

Apr '27


729 N Custer Ave
Grand Island, NE 68803


HIGHLIGHTS

  • Nebraska Medicine, the current tenant, holds a lease through April 2027 and will continue to occupy the building until their relocation
  • 21,249 SF Medical Office Building situated on a 2.06-acre parcel in Grand Island’s established Medical Park Third Subdivision
  • Nebraska Medicine is currently paying rent on both the main floor and the basement, ensuring full-building income through their lease term
  • New HVAC 2022, Roof Sealed 2025, Lot Re-Paved 2025
  • 42 Offices/Exam/Procedure Rooms
  • The property is currently configured for a single tenant, but it can be easily subdivided to accommodate two tenants

OVERVIEW

Marcus & Millichap is pleased to present 729 N Custer Avenue, a 21,249-square-foot medical office building (18,153 SF main floor plus 3,096 SF rentable basement) situated on a spacious 2.06-acre parcel in the heart of Grand Island’s established healthcare corridor. The property is located within the Medical Park Third Subdivision, surrounded by complementary medical and professional users that reinforce long-term tenant demand and patient traffic. This asset offers owner-users or investors a rare opportunity to acquire a large-format medical office building in a supply-constrained market where medical inventory of this scale is limited. The site’s generous acreage provides ample parking, efficient patient flow, and potential for future expansion or multi-tenant demising strategies. With strong visibility along N Custer Avenue, one of the area’s primary north–south arterials, the property benefits from excellent accessibility and proximity to regional amenities, including the Central Nebraska Regional Airport. The building’s placement in FEMA Flood Zone X further enhances its stability by minimizing insurance requirements and operating risk. Whether pursued as an owner-user opportunity, a value-add repositioning, or a long-term hold, 729 N Custer delivers a compelling combination of scale, location, and medical-use functionality that is increasingly difficult to replicate in the Grand Island market.

FOR SALE DETAILS

PRICE

$3,299,999 USD

PRICE/SF

$182 USD /SF

CAP RATE

10.54%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

-

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

400061406

ASK ABOUT THIS PROPERTY

Adam LewisMarcus & MillichapMore Info
303-328-2050

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Adam LewisMarcus & MillichapMore Info
303-328-2050

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