1218 K St 4,797 SF Retail Building Aurora, NE 68818 $299,000 ($62.33/SF) 7.70% Cap Rate

1218 K Street offers an income-producing commercial property in Aurora, Nebraska, featuring an established fitness tenant with a lease in place through July 31, 2028.? The property consists of approximately 4,797 square feet situated on an 8,184 square foot commercial lot with visible frontage and on-site parking.
The property is currently occupied by Tri-Fit at $2,400 per month ($28,800 annually), which equates to approximately $6.00/SF based on assessor-reported building size. Current rental rates appear below replacement cost economics and may provide a future opportunity for rent growth, lease restructuring, or repositioning over time.
In addition to the existing income stream, the property offers notable upside potential through continued active management and space optimization.? The building layout provides flexibility for a variety of future commercial uses, and portions of the property may lend themselves to alternative configurations, additional tenant use, expanded service offerings, or enhanced operational efficiency depending on a future owner’s strategy.
The combination of in-place cash flow, long-term tenant occupancy, flexible commercial functionality, and future value-add potential creates an attractive opportunity for investors seeking both stability and upside in a smaller-market commercial asset.
Aurora continues to see demand for functional commercial space serving local service providers, fitness, retail, and small business users, while properties offering existing income with future repositioning potential remain limited within the market.