First Floor Office Condo
For Sale
$600,000
10404 Essex Court, Omaha, NE 68114
Office condo with open floorplan, greenspace view, and front parking.
Property Size2,228 SF
Days on Market279
Property Features for 10404 Essex Court
General Information
Standard status
Active
Size
2,228 SF
Class
B
Property subtype
Office
Building Details
Building Size
2,228 SF
Year Built
1975
Listing Agency:
OMNE Partners
(402) 850-8898
Listed By:
Alex Epstein · License #20060443
Source:
Omnepartners
Added: Nov 24, 2025
Changed: Aug 26
Last Checked: Aug 29 at 7:42AM
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 OMNE Partners
Investment Insights
Based on property information with market context.
This first-floor office condo features an open floorplan with a wall of windows overlooking a greenspace and patio. The property benefits from front-door parking. It is centrally located at Regency Landing and West Dodge Road, providing easy access to I-680. The property size is 2228 square feet. Many services are available in the immediate area, including Whole Foods Market and Regency Court Mall. The property is suitable for office space.
Key Highlights
- Conveniently located at Regency Landing and W. Dodge Road with easy access to I‑680.
- Open floorplan with a wall of windows overlooking greenspace and a patio.**
- Front door parking.
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
$30,459
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
5.08%
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%
$609,180
$609.2K
Cap Rate 7%
$435,129
$435.1K
Cap Rate 9%
$338,433
$338.4K
Market Conditions
NOI Build-Up for 2,228 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
$46.5K $20.88/SF
− Vacancy
−$5.9K −$2.65/SF
EGI
$40.6K $18.23/SF
− OpEx
−$10.2K −$4.56/SF
NOI
$30.5K $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%
$609,180
Cap Rate 7%
$435,129
Cap Rate 9%
$338,433
Alternative Uses
Best Use
Office B
$435.1K
$380.7K – $507.7K
NOI $30,459 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$586.2K
$512.9K – $683.9K
NOI $41,032 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,112
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
Market
Vacancy Rate% for Office in Omaha, NE
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condo with open floorplan, greenspace view, and front parking.
Where is this office units located?
The property is located at 10404 Essex Court Omaha, NE.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Conveniently located at Regency Landing and W. Dodge Road with easy access to I‑680.; Open floorplan with a wall of windows overlooking greenspace and a patio.**; Front door parking.
