Warehouse and Office
For Sale
$795,000
4344 South 87th Street, Omaha, NE 68127
Warehouse and office building featuring five offices and a fenced storage area with drive-in and dock doors.
Property Size4,800 SF
Price / SF$165.63
Days on Market83
Property Features for 4344 South 87th Street
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Building Details
Year Renovated
2012
Listing Agency:
CBRE | Omaha
(402) 697-5862
Listed By:
David H. Maenner
(402) 697-5862
Source:
Cbre
Added: May 16
Changed: Jul 23
Last Checked: Aug 6 at 11:52AM
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 warehouse and office building includes an office area with five offices, a reception area, conference room, large file room, breakroom, and two restrooms. The office space was fully renovated in 2012. The warehouse offers one 10’W x 12’H drive-in door and one 8’ x 8’ dock door, with a fenced storage area at the rear of the property.
The location provides easy access to I-80 via 84th and F Streets.
Overall, the property combines functional warehouse loading with dedicated administrative space and secured outdoor storage.
The location provides easy access to I-80 via 84th and F Streets.
Overall, the property combines functional warehouse loading with dedicated administrative space and secured outdoor storage.
Key Highlights
- Office area includes five offices plus reception, conference room, large file room, breakroom, and two restrooms
- Entire office renovation completed in 2012
- Warehouse has one 10’W x 12’H drive‑in door and one 8’ x 8’ dock 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
$65,622
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
8.25%
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%
$1,312,440
$1.3M
Cap Rate 7%
$937,457
$937.5K
Cap Rate 9%
$729,133
$729.1K
Market Conditions
NOI Build-Up for 4,800 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
$100.2K $20.88/SF
− Vacancy
−$12.7K −$2.65/SF
EGI
$87.5K $18.23/SF
− OpEx
−$21.9K −$4.56/SF
NOI
$65.6K $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%
$1,312,440
Cap Rate 7%
$937,457
Cap Rate 9%
$729,133
Alternative Uses
Best Use
Office B
$937.5K
$820.3K – $1.09M
NOI $65,622 @ 7.0% cap · market cap 8.25%
Second Best
Warehouse
$848.1K
$742.1K – $989.4K
NOI $59,364 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$1.26M
$1.11M – $1.47M
NOI $88,400 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 68127, NE
22,507
Population
10,435
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
3,517
Density / Sq Mi
$65,331
Median Household Income
$42,372
Median Earnings
$1,040
Median Rent
$230,500
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?
Flex space - Warehouse and office building featuring five offices and a fenced storage area with drive-in and dock doors.
Where is this flex space located?
The property is located at 4344 South 87th Street Omaha, NE.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Office area includes five offices plus reception, conference room, large file room, breakroom, and two restrooms; Entire office renovation completed in 2012; Warehouse has one 10’W x 12’H drive‑in door and one 8’ x 8’ dock door
