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Multi-million-dollar sales boost real estate market

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Out-of-state buyers have paid more than $ 8.5 million for the Comfort Inn property at E. Halligan Live, just south of the Iron Eagle Golf Course.

According to county records, the land was purchased by SaphireProperties LLC in the ore of Newberg for $ 8,650,000. The transaction was recorded on May 9th.

The 4-storey hotel is located on 1.94 acres of land.

North Platte Comfort Inn

Large real estate transactions are frowned upon, adding the general impression that North Platte is at the edge of a big real estate value boom.

The seller of Comfort Inn was also an out-of-state company called EAD Properties in Gallup, New Mexico.

According to the registrar Royce Block, this is one of the highest real estate parcel prices ever recorded by the Lincoln County Certificate Register.

According to the Secretary of State of Nebraska, the purchaser, Saphire Properties, also has a registered address in Nebraska — Omaha’s 7925 Davenport Road. The address of Nebraska was registered on March 18th.

The Comfort Inn was last valued at $ 5.9 million for tax purposes by the Lincoln County Councilor. Opening in 2019, it features 90 rooms and an indoor pool.

The purchase was funded by California, which has some of the highest real estate values ​​in the United States. According to the trust deed, the lender was First Credit Bank in Sunset Boulevard, Hollywood, California.

Little Caesars

Another notable Lincoln County real estate sale doubled the price of the Little Caesars Pizza property at 411 S. Dewey in North Platte in just one day, according to county real estate records.

North Platte’s Little Caesars

The tax property valuation is $ 400,070.

According to county records, a company called LM Capital, LLC in Beverly Hills, California, bought the property for $ 491,000 on May 6 and sold it for $ 1.1 million on the same day. The purchaser was PINE22Caesar, LLC in Daytona Beach, Florida. The transaction was recorded on May 9.

According to the Utah Department of Commerce, the original owner of the pizzeria was Mi6 Leasing, LLC in Lehi, Utah. This company leases real estate and machinery.

Robstevka, a commercial investment service in North Platte, said it would be wise to consider such real estate transactions with a single grain of salt. He said it’s hard to know if such sales include everything. Certain aspects of the business may or may not be included in the real estate.

Stephka also said it’s common for real estate investors to buy and sell hotels.

Big moon

These two multi-million dollar transactions contributed to a very busy year in the commercial real estate market in Lincoln County.

On April 29, another outstanding real estate sale took place between Olson Farms, Inc. and Trey and Dayna Wasserburger. Wasserburgers is the owner of TD Angus and one of the leading families supporting the development of sustainable beef processing plants.

Olson sold five sections and two partial sections of land to Wasserburgers for $ 5.8 million. The land is 12-14 miles north of Maxwell, along or near a road running north of Maxwell, and is properly called North Maxwell Lord.

Most of the land that has changed hands is pasture, but one section has a pivot irrigation system that covers about a quarter of the section. According to the county councilor’s office, the taxable price of land was just over $ 3 million.

With that sale, Olson Farm sold the last pasture it previously owned in the area of ​​Lincoln County.

New private golf course

Olson Farms had previously sold North Maxwell Lord, a meadow on the other side of the road, to Kirkina LLC, a company that plans to build a golf course there. The purchase price for the transaction was $ 3.35 million. The transaction was recorded on February 7.

The land recently purchased by Wasserburgers is not part of the golf course’s property.

The Kahikina course is a high-end private course that spans four sections. According to a plan submitted to the Lincoln County Planning Commission, the club will include accommodation for up to 60 golfers.

Other high-end transactions

Since the end of last year, there have been several real estate transactions over $ 1 million.

One of the most important ones occurred on December 28, 2021. Trey and Dayna Wasserburger bought a meadow south of North Platte, not far from US Highway 83, for $ 2.4 million.

Famous Angus breeders Bill and Barbrichchel sold their land to Wassergar. TD Angus and Richel Ranch work together to provide breeding cattle to cattle owners in several states.

The sale consisted of approximately 2,698 acres, resulting in a larger deal. Trey Wasserburger said he and his wife had previously purchased some of Risel’s other lands. A total of 3,600 acres were involved, including 4.5 adjacent sections from Watts Road to Lone Star Road.

Mr Stepka said it was too early for North Platte real estate owners to expect a surge in the local real estate market.

“I’m excited about the future,” he said. “I think it’s going to surge, but it’s wise to wait for it to happen. It will be really interesting once the industry gets on track.”

(Lincoln County real estate transactions are published weekly in a printed version of the newsletter showing what is happening in the real estate market. This news report was first published in the May 25th printed version of the newsletter.)

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