Class B Office
For Sale
Contact for pricing
1010 N 96th St, Omaha, NE 68114
Private offices and open cubicle areas create a flexible workplace layout.
Property Size19,077 SF
Price / SF$151.49
Days on Market116
Property Features for 1010 N 96th St
General Information
Standard status
Active
Size
19,077 SF
Class
Class B
Property subtype
OFFICE
Occupancy
49%
Building Details
Year Built
1995
Parking Ratio
4.65 per 1,000 SF
Listing Agency:
NAI NP Dodge
(402) 255-6060
Listed By:
Chris Falcone · License #20080196
(402) 706-4990
Source:
Moodyscre
Added: May 21
Changed: Sep 11
Last Checked: Sep 13 at 11:16AM
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 NAI NP Dodge
Investment Insights
Based on property information with market context.
Built in 1995, this Class B office building contains 19,077 square feet with a mix of private offices and open areas configured for cubicles. The property provides a combination of enclosed and collaborative workplace environments within a single office asset.
The top floor is leased long term to the Consulate of Guatemala. Overall occupancy is 49%, and the property has a 4.65:1,000 parking ratio. Located at 1010 N 96th St in Omaha, Nebraska, the building is offered for sale and lease.
The top floor is leased long term to the Consulate of Guatemala. Overall occupancy is 49%, and the property has a 4.65:1,000 parking ratio. Located at 1010 N 96th St in Omaha, Nebraska, the building is offered for sale and lease.
Key Highlights
- 19,077‑square‑foot Class B office building built in 1995
- Mix of private offices and open space for cubicles
- Top floor leased long term to the Consulate of Guatemala
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
$260,805
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
9.02%
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%
$5,216,100
$5.2M
Cap Rate 7%
$3,725,786
$3.7M
Cap Rate 9%
$2,897,833
$2.9M
Market Conditions
NOI Build-Up for 19,077 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
$398.3K $20.88/SF
− Vacancy
−$50.6K −$2.65/SF
EGI
$347.7K $18.23/SF
− OpEx
−$86.9K −$4.56/SF
NOI
$260.8K $13.67/SF
Area
Omaha, NE
Vacancy
12.70%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$5,216,100
Cap Rate 7%
$3,725,786
Cap Rate 9%
$2,897,833
Alternative Uses
Best Use
Office B
$3.73M
$3.26M – $4.35M
NOI $260,805 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.02M
$4.39M – $5.86M
NOI $351,334 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
49%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,376
Businesses Nearby
Explore this area
Business Placement
Demographics for 68114, NE
18,078
Population
8,437
Households
2.1
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
5.8 sq mi
ZIP Area
3,117
Density / Sq Mi
$73,361
Median Household Income
$44,430
Median Earnings
$1,220
Median Rent
$273,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Omaha, NE
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Frequently Asked Questions
What type of property is this?
Office building - Private offices and open cubicle areas create a flexible workplace layout.
Where is this office building located?
The property is located at 1010 N 96th St Omaha, NE.
What is the asking price?
The asking price for this property is $2,890,000.
What are key features of this property?
This property features: 19,077‑square‑foot Class B office building built in 1995; Mix of private offices and open space for cubicles; Top floor leased long term to the Consulate of Guatemala
