Omaha Apartments with Modern
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1147 Park Avenue, Omaha, NE 68105
Spacious apartments in thriving Omaha neighborhood, near shops and entertainment.
Property Size3,674 SF
Price / SF$148.34
Days on Market104
Property Features for 1147 Park Avenue
General Information
Standard status
Active
Size
3,674 SF
Property subtype
Multifamily
Zoning
R7
Building Details
Year Built
1900
Listing Agency:
Access Commercial LLC
(402) 502-1983
Listed By:
Broc Gregory · License #20200226
Source:
Crexi
Added: May 21
Changed: Aug 14
Last Checked: Sep 1 at 12:12PM
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 Access Commercial LLC
Investment Insights
Based on property information with market context.
The property at 1147 Park Avenue, located in Omaha, features apartments with one- and two-bedroom units offering versatile floor plans. On-site amenities include laundry facilities, secure entry, and central HVAC. The property has a pet-friendly policy. Situated in a thriving Omaha neighborhood, the location provides convenient access to local restaurants, shops, and entertainment. The property size is 3,674 square feet.
Key Highlights
- Prime location in the heart of Omaha, close to restaurants, shops, and entertainment.
- Spacious one- and two‑bedroom units with versatile floor plans.
- Pet‑friendly policy.
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
$29,607
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
5.43%
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%
$592,140
$592.1K
Cap Rate 7%
$422,957
$423.0K
Cap Rate 9%
$328,967
$329.0K
Market Conditions
NOI Build-Up for 3,674 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
$58.2K $15.84/SF
− Vacancy
−$4.4K −$1.19/SF
EGI
$53.8K $14.65/SF
− OpEx
−$24.2K −$6.59/SF
NOI
$29.6K $8.06/SF
Area
Omaha, NE
Vacancy
7.50%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
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%
$592,140
Cap Rate 7%
$422,957
Cap Rate 9%
$328,967
Alternative Uses
Best Use
Apartment 5plus
$423.0K
$370.1K – $493.5K
NOI $29,607 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$966.6K
$845.8K – $1.13M
NOI $67,663 @ 7.0% cap · market cap 12.42%
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?
Apartment building - Spacious apartments in thriving Omaha neighborhood, near shops and entertainment.
Where is this apartment building located?
The property is located at 1147 Park Avenue Omaha, NE.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Prime location in the heart of Omaha, close to restaurants, shops, and entertainment.; Spacious one- and two‑bedroom units with versatile floor plans.; Pet‑friendly policy.
