Bellevue Service Garage
For Sale
Contact for pricing
1003 Fort Crook Rd N, Bellevue, NE 68005
4,813 SF service garage for sale in Bellevue, Nebraska.
Property Size4,813 SF
Lot Size0.50 Acres
Price / SF$93.50
Days on Market152
Property Features for 1003 Fort Crook Rd N
General Information
Standard status
Active
Size
4,813 SF
Lot size
0.50 Acres
Property subtype
Industrial
Zoning
BG – Business General
Building Details
Year Built
1968
Buildings
1
Stories
1
Listing Agency:
CBRE - Omaha
(402) 697-5814
Listed By:
Graham Nabity · License #NE 20170486
Source:
Crexi
Added: Mar 13
Changed: Aug 8
Last Checked: Aug 8 at 3:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Omaha
Investment Insights
Based on property information with market context.
The property at 1003 Fort Crook Road N, Bellevue, NE, presents an owner/user opportunity. This 4,813 SF building is also available for lease at $12.00 PSF, NNN, with estimated NNN expenses of $4.00 PSF for 2026. The property features a service garage located in Southroads Technology Park. The warehouse space includes floor drains and forced air heat. The building has a ceiling/clear height of 17 feet 6 inches. It includes two offices with a reception area and seven 10-foot by 10-foot overhead doors. The electrical system provides 3 phase 200 amp maximum power. The roof was replaced in 2022. Zoned for Business General use, the property includes approximately 25 parking stalls on a 0.5 AC / 21,780 SF lot. There is one restroom in the shop and one in the warehouse. Nearby tenants include US Bank, TierPoint Data Center, Cornerstone Christian School, and Bob’s Fitness. The property is situated at the southeast corner of Fort Crook Road North and Camp Brewster Road, with traffic counts of 20,500 vehicles per day for nearby Fort Crook Road & Childs Road.
Key Highlights
- 4,813 SF Building for Sale or Lease - a great Owner/User Opportunity
- Located in Southroads Technology Park on Heavily Trafficked Fort Crook Road North (20,500 VPD)
- Warehouse space features floor drains and forced air heat
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,924
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$678,480
$678.5K
Cap Rate 7%
$484,629
$484.6K
Cap Rate 9%
$376,933
$376.9K
Market Conditions
NOI Build-Up for 4,813 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.1K $8.54/SF
− Vacancy
−$1.2K −$0.25/SF
EGI
$39.9K $8.29/SF
− OpEx
−$6.0K −$1.24/SF
NOI
$33.9K $7.05/SF
Area
Sarpy County, NE
Vacancy
2.90%
Lease Rate
$8.54 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$678,480
Cap Rate 7%
$484,629
Cap Rate 9%
$376,933
Alternative Uses
Best Use
Retail
$844.8K
$739.2K – $985.6K
NOI $59,135 @ 7.0% cap · market cap 13.14%
Second Best
Warehouse
$484.6K
$424.1K – $565.4K
NOI $33,924 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,412 @ 7.0% cap · market cap 20.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 68005, NE
23,236
Population
9,778
Households
2.4
Avg Household Size
37
Median Age
29%
College-Educated
92%
High-School Grad
18.7 sq mi
ZIP Area
1,243
Density / Sq Mi
$66,347
Median Household Income
$41,702
Median Earnings
$1,033
Median Rent
$193,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Milt's Mini Storage — 1506 Chandler Rd W, Bellevue, NE 68147
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Frequently Asked Questions
What type of property is this?
Warehouse - 4,813 SF service garage for sale in Bellevue, Nebraska.
Where is this warehouse located?
The property is located at 1003 Fort Crook Rd N Bellevue, NE.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 4,813 SF Building for Sale or Lease - a great Owner/User Opportunity; Located in Southroads Technology Park on Heavily Trafficked Fort Crook Road North (20,500 VPD); Warehouse space features floor drains and forced air heat
