Four-Unit Quadplex with
New
For Sale
$235,000
1113 Park Avenue, Omaha, NE 68105
Residential income property with two occupied units and two additional units that may require work before leasing.
Property Size1,300 SF
Price / SF$180.77
Days on Market4
Property Features for 1113 Park Avenue
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Horst Power Realty
Listed By:
Todd Walkenhorst · License #966109
Source:
Lnkhomesforsale
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 1:36PM
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 Horst Power Realty
Investment Insights
Based on property information with market context.
This four-unit residential conversion is configured as a quadplex and includes two units currently occupied by tenants. The remaining two units may require work before they can be rented. Built in 1900, the property is being offered in its existing condition, with the seller making no repairs.
Located at 1113 Park Avenue in Omaha, the property may also be packaged with 1049 Park Avenue and 1111 Park Avenue. The offering provides a defined four-unit configuration with existing tenant occupancy and additional units requiring evaluation and improvement.
Located at 1113 Park Avenue in Omaha, the property may also be packaged with 1049 Park Avenue and 1111 Park Avenue. The offering provides a defined four-unit configuration with existing tenant occupancy and additional units requiring evaluation and improvement.
Key Highlights
- Four‑unit residential conversion configured as a quadplex
- Two units currently occupied by tenants
- Two additional units may require work before leasing
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
$11,360
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
4.83%
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%
$227,200
$227.2K
Cap Rate 7%
$162,286
$162.3K
Cap Rate 9%
$126,222
$126.2K
Market Conditions
NOI Build-Up for 1,300 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
$17.5K $13.44/SF
− Vacancy
−$1.2K −$0.96/SF
EGI
$16.2K $12.48/SF
− OpEx
−$4.9K −$3.74/SF
NOI
$11.4K $8.74/SF
Area
Omaha, NE
Vacancy
7.12%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
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%
$227,200
Cap Rate 7%
$162,286
Cap Rate 9%
$126,222
Alternative Uses
Best Use
Multifamily LT 5
$162.3K
$142.0K – $189.3K
NOI $11,360 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$149.7K
$131.0K – $174.6K
NOI $10,476 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$342.0K
$299.3K – $399.0K
NOI $23,942 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 68105, NE
22,669
Population
10,633
Households
2.1
Avg Household Size
32
Median Age
35%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
6,297
Density / Sq Mi
$53,253
Median Household Income
$36,969
Median Earnings
$1,010
Median Rent
$187,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with two occupied units and two additional units that may require work before leasing.
Where is this quadplex located?
The property is located at 1113 Park Avenue Omaha, NE.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Four‑unit residential conversion configured as a quadplex; Two units currently occupied by tenants; Two additional units may require work before leasing
