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29776540
29776541

729 N Custer Ave, Grand Island, NE 68803

AL
NE NE. 20250136, CO CO. ER100091205 (+5)
Marcus & Millichap - Denver
BK
CO CO FA100045203
Marcus & Millichap - Denver
Listed by Marcus & Millichap - Denver
$3,299,999
118 days on market
Updated 4 days ago

729 N Custer Ave

Details
Property Type Office
Sub Type Medical Office
Square Footage 21,249
Occupancy 100%
Tenancy Single
Lease Expiration 04/14/2027
Remaining Term 0.8
Price per SqFt $155
Acreage 2.100
Investment Type Owner/User
Occupancy Date 04/14/2027

Office | 21,249 SqFt

Marketing description

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.

Investment highlights

  • Nebraska Medicine, the current tenant, holds a lease through April 2027 and will continue to occupy the building until their relocation. The in-place lease provides stable cash flow to the new owner throughout the transition period.

  • 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.

  • Prime N Custer Avenue frontage with strong visibility, easy patient access, and proximity to regional amenities including Central Nebraska Regional Airport.

  • Large-format site with expansion potential, ample parking, and flexibility for multi-tenant demising or future redevelopment.

  • Located in FEMA Flood Zone X, minimizing insurance requirements and reducing long-term operating risk.

  • Surrounded by complementary medical and professional users, reinforcing tenant demand and long-term occupancy stability.

  • Rare scale in a supply-constrained market, offering a compelling opportunity for owner-users, value-add investors, or long-term holders.

Listing Contacts

AL
NE NE. 20250136, CO CO. ER100091205 (+5)
Marcus & Millichap - Denver
BK
CO CO FA100045203
Marcus & Millichap - Denver
Listed by Marcus & Millichap - Denver

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Additional Information

Name
Adam Lewis
License
NE 20250136
Title
Broker of Record
Name
Adam Lewis
License
NE. 20250136
Brokerage
Marcus & Millichap
Brokerage Phone
3033282000
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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