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    Productive Cropland Opportunity Near Omaha Title is generated by Realmo AI

    246th & F Street, Waterloo, NE 68069

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    Claim this Listing
    For Sale
    $1,214,200

    Farms/Ranches - Waterloo, NE

    Type:Farm
    Lot size:
    93.40 Acres
    Added:
    Dec 11, 2025
    Days on Market:
    158
    Last Refresh:
    May 18 at 10:06 am

    Property Features for 246th & F Street

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    APN
    0104150001, 0104170023, & 0104170027
    Lot size
    93.40 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7419.86

    Building Details

    Architectural style
    Ranch

    We can help!

    Listing Contact
    Staci Mueller
    Staci Mueller

    Listing agent Staci Mueller License #20080312

    Listing office BHHS Ambassador Real Estate 331 Village Pointe Plz #201, Omaha, NE

    Listing date Dec 11, 2025

    MLS# 22534751 Listing URL

    Copyright © 2026 Great Plains Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 93.4 acres of productive cropland near Omaha.
    • Mostly under center pivot irrigation, suitable for various crops.
    • Includes multiple center pivot systems: Reinke (4‑tower, 950 hours), Reinke (3‑tower, 1529 hours), Valley (4‑tower towable), and Valley (3‑tower towable).
    • Two irrigation wells included.
    • Offers potential for specialty crops/truck farming due to proximity to the metro.
    • Tree‑lined, spring‑fed creek provides recreational and deer hunting opportunities.

    Overview

    This 93.4-acre farm, located at 246th & F Street in Waterloo, Nebraska, presents a productive cropland opportunity on the outskirts of Omaha. The farm is primarily under center pivot irrigation, offering potential for specialty crops and truck farming due to its proximity to the metro area. The property includes the following pivots: one 4-tower Reinke center pivot with 950 hours, in excellent condition; one 3-tower Reinke center pivot with 1529 hours, in excellent condition; one Valley 4-tower towable center pivot in good condition; and one Valley 3-tower towable center pivot in fair condition, as well as two irrigation wells. The land breakdown includes 89.57 acres of cropland and 3.83 acres of non-crop land. The farm has a corn base of 84.60 with a yield of 104.00, and a soybean base of 3.00 with a yield of 35.00. A tree-lined, spring-fed creek also runs through the property, offering recreational and deer hunting potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Waterloo
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.3155
    Latitude
    41.242

    FAQs

    What type of property is this?
    Farm - 93.4 acres of cropland with irrigation near Omaha.
    Where is this farm located?
    The property is located at 246th & F Street Waterloo, NE.
    What is the asking price?
    The asking price for this property is $1,214,200.
    What are key features of this property?
    This property features: 93.4 acres of productive cropland near Omaha.; Mostly under center pivot irrigation, suitable for various crops.; Includes multiple center pivot systems: **Reinke (4‑tower, 950 hours), Reinke (3‑tower, 1529 hours), Valley (4‑tower towable), and Valley (3‑tower towable).**
    (402) 699-0067
    We can help!
    Listing Contact
    Staci Mueller
    Staci Mueller
    Real Estate License ID: 20080312
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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