Residential Income Property with
For Sale
$3,000,000
1402 Leavenworth Street, Omaha, NE 68102
Large 4,300 sq. ft. rental home with a 6,000 sq. ft. rooftop and multiple gathering spaces for up to 21 guests.
Property Size12,379 SF
Price / SF$242.35
Days on Market48
Property Features for 1402 Leavenworth Street
General Information
Standard status
Active
Size
12,379 SF
Property subtype
Industrial
Building Details
Year Built
1938
Listing Agency:
Investors Realty Inc
(402) 778-7545
Listed By:
Ryan Kuehl, CCIM, SIOR
Source:
Investorsomaha
Added: Jun 25
Changed: Aug 8
Last Checked: Aug 11 at 6:39AM
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 Investors Realty Inc
Investment Insights
Based on property information with market context.
This residential income property offers an expansive 4,300 sq. ft. layout with a 6,000 sq. ft. rooftop. The configuration includes 7 bedrooms and 4 bathrooms, along with two full kitchens and open living areas designed for group use.
On-site entertainment features include a speakeasy-style bar, an arcade room with a 100" TV wall and more than 17,000 games, and a private multi-level theater. The home is described as accommodating up to 21 guests.
Located in Omaha, Nebraska at 1402 Leavenworth Street, the property is positioned for investors seeking flexibility through a short-term rental-style setup while retaining strong residential-use fundamentals.
On-site entertainment features include a speakeasy-style bar, an arcade room with a 100" TV wall and more than 17,000 games, and a private multi-level theater. The home is described as accommodating up to 21 guests.
Located in Omaha, Nebraska at 1402 Leavenworth Street, the property is positioned for investors seeking flexibility through a short-term rental-style setup while retaining strong residential-use fundamentals.
Key Highlights
- Built in 1938
- 4,300 sq. ft. rental home with a 6,000 sq. ft. rooftop
- Rooftop features include a private rooftop oasis, described as the largest private rooftop downtown
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
$99,757
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
3.33%
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%
$1,995,140
$2.0M
Cap Rate 7%
$1,425,100
$1.4M
Cap Rate 9%
$1,108,411
$1.1M
Market Conditions
NOI Build-Up for 12,379 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
$196.1K $15.84/SF
− Vacancy
−$14.7K −$1.19/SF
EGI
$181.4K $14.65/SF
− OpEx
−$81.6K −$6.59/SF
NOI
$99.8K $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%
$1,995,140
Cap Rate 7%
$1,425,100
Cap Rate 9%
$1,108,411
Alternative Uses
Best Use
Apartment 5plus
$1.43M
$1.25M – $1.66M
NOI $99,757 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $227,980 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,588
Businesses Nearby
Explore this area
Business Placement
Demographics for 68102, NE
9,130
Population
5,922
Households
1.5
Avg Household Size
33
Median Age
51%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
5,072
Density / Sq Mi
$60,525
Median Household Income
$46,309
Median Earnings
$1,242
Median Rent
$350,500
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?
Short term rental property - Large 4,300 sq. ft. rental home with a 6,000 sq. ft. rooftop and multiple gathering spaces for up to 21 guests.
Where is this short term rental property located?
The property is located at 1402 Leavenworth Street Omaha, NE.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Built in 1938; 4,300 sq. ft. rental home with a 6,000 sq. ft. rooftop; Rooftop features include a private rooftop oasis, described as the largest private rooftop downtown
