Renovated Warehouse with Office
For Sale
$5,862,640
4545 South 119th Circle, Omaha, NE 68137
40,432 SF warehouse with renovated office space for sale.
Property Size40,432 SF
Price / SF$145
Days on Market150
Property Features for 4545 South 119th Circle
General Information
Standard status
Active
Size
40,432 SF
Property subtype
Industrial
Listing Agency:
(402) 697-5823
Listed By:
MICHAEL KAUFMAN
(402) 697-5823
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Aug 20 at 7:37AM
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 MICHAEL KAUFMAN
Investment Insights
Based on property information with market context.
This 40,432 square foot commercial property features a 36,352 square foot warehouse and 4,080 square feet of office space. The office area has been newly renovated and includes 10 executive/administrative offices and a training/board room. The warehouse is equipped with radiant heat and substantial power capabilities. Warehouse racking systems are available. The property benefits from general industrial zoning, which allows for a wide variety of uses. Deferred maintenance has been addressed. This property presents a rare opportunity for an owner/user.
Key Highlights
- Rare owner/user opportunity
- $100,000 Discount if Buyer Closes Within 60 Days
- Newly renovated office and updated deferred maintenance
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
$500,043
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
8.53%
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%
$10,000,860
$10.0M
Cap Rate 7%
$7,143,471
$7.1M
Cap Rate 9%
$5,556,033
$5.6M
Market Conditions
NOI Build-Up for 40,432 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
$606.5K $15.00/SF
− Vacancy
−$18.2K −$0.45/SF
EGI
$588.3K $14.55/SF
− OpEx
−$88.2K −$2.18/SF
NOI
$500.0K $12.37/SF
Area
Omaha, NE
Vacancy
3.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$10,000,860
Cap Rate 7%
$7,143,471
Cap Rate 9%
$5,556,033
Alternative Uses
Best Use
Office B
$7.90M
$6.91M – $9.21M
NOI $552,753 @ 7.0% cap · market cap 9.43%
Second Best
Warehouse
$7.14M
$6.25M – $8.33M
NOI $500,043 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$10.64M
$9.31M – $12.41M
NOI $744,622 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 68137, NE
26,537
Population
10,834
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
95%
High-School Grad
8.4 sq mi
ZIP Area
3,159
Density / Sq Mi
$82,256
Median Household Income
$49,784
Median Earnings
$1,337
Median Rent
$232,800
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?
Warehouse - 40,432 SF warehouse with renovated office space for sale.
Where is this warehouse located?
The property is located at 4545 South 119th Circle Omaha, NE.
What is the asking price?
The asking price for this property is $5,862,640.
What are key features of this property?
This property features: Rare owner/user opportunity; $100,000 Discount if Buyer Closes Within 60 Days; Newly renovated office and updated deferred maintenance
