Leased Flex Space
For Sale
$2,764,976
4131 South 143rd Circle, Omaha, NE 68137
76% leased through August 2034, with annual rent escalations and available finished office space.
Property Size21,544 SF
Price / SF$128.34
Days on Market138
Property Features for 4131 South 143rd Circle
General Information
Standard status
Active
Size
21,544 SF
Property subtype
Office
Occupancy
76%
Listing Agency:
CBRE - Omaha
Listed By:
Dale Scott · License #NE#0970005
(402) 697-5846
Source:
Cbre
Added: May 8
Changed: Sep 12
Last Checked: Sep 21 at 5:53AM
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 CBRE - Omaha
Investment Insights
Based on property information with market context.
This flex space building is currently 76% leased through August 2034, with annual rent escalations designed to support steady income growth. The remaining vacant space provides potential for additional leasing, or the opportunity for an owner-occupant to move in if desired.
In addition to the income stream, the property is also available for lease and features a nicely finished office space with a private exterior entrance. Building signage is available. A second-floor/mezzanine space is included at no extra cost.
Overall, the building offers a mix of leased space and space that can be completed through leasing or occupied by an owner, along with dedicated office presentation and an additional mezzanine level.
In addition to the income stream, the property is also available for lease and features a nicely finished office space with a private exterior entrance. Building signage is available. A second-floor/mezzanine space is included at no extra cost.
Overall, the building offers a mix of leased space and space that can be completed through leasing or occupied by an owner, along with dedicated office presentation and an additional mezzanine level.
Key Highlights
- 76% leased through August 2034
- Annual rent escalations are in place
- Finished office space available with a private exterior entrance
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
$223,497
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
8.08%
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%
$4,469,940
$4.5M
Cap Rate 7%
$3,192,814
$3.2M
Cap Rate 9%
$2,483,300
$2.5M
Market Conditions
NOI Build-Up for 21,544 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
$361.9K $16.80/SF
− Vacancy
−$18.1K −$0.84/SF
EGI
$343.8K $15.96/SF
− OpEx
−$120.3K −$5.59/SF
NOI
$223.5K $10.37/SF
Area
Omaha, NE
Vacancy
5.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$4,469,940
Cap Rate 7%
$3,192,814
Cap Rate 9%
$2,483,300
Alternative Uses
Best Use
Office B
$4.21M
$3.68M – $4.91M
NOI $294,532 @ 7.0% cap · market cap 10.65%
Second Best
Flex RnD
$3.19M
$2.79M – $3.72M
NOI $223,497 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$5.67M
$4.96M – $6.61M
NOI $396,768 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
76%
Occupancy
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Omaha, NE
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pleasure Your Palate Catering — 14505 Grover St, Omaha, NE 68144
Frequently Asked Questions
What type of property is this?
Flex space - 76% leased through August 2034, with annual rent escalations and available finished office space.
Where is this flex space located?
The property is located at 4131 South 143rd Circle Omaha, NE.
What is the asking price?
The asking price for this property is $2,764,976.
What are key features of this property?
This property features: 76% leased through August 2034; Annual rent escalations are in place; Finished office space available with a private exterior entrance
