Multi-Tenant Medical Office
For Sale
Contact for pricing
10701 South 72nd Street, Papillion, NE 68046
Built in 2004, the property offers shared common areas and established occupants in a professional office setting.
Property Size10,000 SF
Price / SF$175
Days on Market12
Property Features for 10701 South 72nd Street
General Information
Standard status
Active
Size
10,000 SF
Class
B
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Year Built
2004
Tenancy
Multi
Listing Agency:
Campbell Dana LLC
(402) 518-9823
Listed By:
Seth Campbell · License #NE 20240218
Source:
Crexi
Added: Aug 19
Changed: Aug 30
Last Checked: Aug 30 at 8:24AM
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 Campbell Dana LLC
Investment Insights
Based on property information with market context.
This office building was completed in 2004 and is configured for multiple medical and office occupants. The property includes maintained shared areas and supports a professional environment for users across its tenant spaces.
The building is located at 10701 South 72nd Street in Papillion, Nebraska, within Papillion Professional Park and north of Highway 370. Established, long-term tenants currently occupy the property, providing an existing multi-occupant configuration for a new owner.
The building is located at 10701 South 72nd Street in Papillion, Nebraska, within Papillion Professional Park and north of Highway 370. Established, long-term tenants currently occupy the property, providing an existing multi-occupant configuration for a new owner.
Key Highlights
- Multi‑tenant office building serving medical and office users
- 10,000 property size
- Completed in 2004
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
$141,219
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
8.07%
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%
$2,824,380
$2.8M
Cap Rate 7%
$2,017,414
$2.0M
Cap Rate 9%
$1,569,100
$1.6M
Market Conditions
NOI Build-Up for 10,000 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
$204.0K $20.40/SF
− Vacancy
−$15.7K −$1.57/SF
EGI
$188.3K $18.83/SF
− OpEx
−$47.1K −$4.71/SF
NOI
$141.2K $14.12/SF
Area
Sarpy County, NE
Vacancy
7.70%
Lease Rate
$20.40 /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%
$2,824,380
Cap Rate 7%
$2,017,414
Cap Rate 9%
$1,569,100
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.35M
NOI $141,219 @ 7.0% cap · market cap 8.07%
Second Best
Healthcare Medical
$1.68M
$1.47M – $1.95M
NOI $117,288 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,849 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 68046, NE
32,242
Population
12,849
Households
2.5
Avg Household Size
36
Median Age
50%
College-Educated
97%
High-School Grad
28.0 sq mi
ZIP Area
1,152
Density / Sq Mi
$113,708
Median Household Income
$57,767
Median Earnings
$1,252
Median Rent
$331,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2004, the property offers shared common areas and established occupants in a professional office setting.
Where is this office building located?
The property is located at 10701 South 72nd Street Papillion, NE.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Multi‑tenant office building serving medical and office users; 10,000 property size; Completed in 2004
