Freestanding Office Building in
For Sale
$1,330,000
3626 S 149th St, Omaha, NE 68144
Single-tenant office building with high-end finishes and rare utility.
Property Size4,141 SF
Price / SF$321.18
Days on Market164
Property Features for 3626 S 149th St
General Information
Standard status
Active
Size
4,141 SF
Property subtype
Office
Building Details
Year Built
2004
Listing Agency:
Lee & Associates - Omaha Nebraska
(402) 740-6791
Listed By:
Benjamin Pearson · License #20090103
(402) 740-6791
Source:
Lee-associates
Added: Mar 6
Changed: Jul 6
Last Checked: Aug 17 at 4:28AM
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 Lee & Associates - Omaha Nebraska
Investment Insights
Based on property information with market context.
Located in the Altech Business Park in West Omaha, the property at 3626 S 149th Street is a ±4,141 SF freestanding, single-tenant building. It offers convenient access to Industrial Road and 144th Street, providing connectivity to the Omaha metro area. The property features headquarters-quality finishes throughout and includes a finished, temperature-controlled bay with a 9' x 20' overhead door.
Key Highlights
- Freestanding, single‑tenant building offering total control.
- Headquarters‑quality finishes throughout the building.
- Rare utility: Finished, temp‑controlled bay with 9' x 20' overhead door.
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
$56,612
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
4.26%
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%
$1,132,240
$1.1M
Cap Rate 7%
$808,743
$808.7K
Cap Rate 9%
$629,022
$629.0K
Market Conditions
NOI Build-Up for 4,141 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
$86.5K $20.88/SF
− Vacancy
−$11.0K −$2.65/SF
EGI
$75.5K $18.23/SF
− OpEx
−$18.9K −$4.56/SF
NOI
$56.6K $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%
$1,132,240
Cap Rate 7%
$808,743
Cap Rate 9%
$629,022
Alternative Uses
Best Use
Office B
$808.7K
$707.7K – $943.5K
NOI $56,612 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$953.3K – $1.27M
NOI $76,263 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,072
Businesses Nearby
Explore this area
Business Placement
Demographics for 68144, NE
24,994
Population
11,209
Households
2.2
Avg Household Size
38
Median Age
46%
College-Educated
96%
High-School Grad
7.3 sq mi
ZIP Area
3,424
Density / Sq Mi
$81,887
Median Household Income
$46,271
Median Earnings
$1,138
Median Rent
$248,900
Median Home Value
Market
Vacancy Rate% for Office in Omaha, NE
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-tenant office building with high-end finishes and rare utility.
Where is this office building located?
The property is located at 3626 S 149th St Omaha, NE.
What is the asking price?
The asking price for this property is $1,330,000.
What are key features of this property?
This property features: Freestanding, single‑tenant building offering total control.; Headquarters‑quality finishes throughout the building.; Rare utility: Finished, temp‑controlled bay with 9' x 20' overhead door.
