Renovated Executive Office
New
For Sale
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13504 Stevens St., Omaha, NE 68137
CC-zoned office property with access to Millard Avenue, 132 Street, Q Street, and L Street.
Property Size2,324 SF
Price / SF$247.42
Days on Market5
Property Features for 13504 Stevens St.
General Information
Standard status
Active
Size
2,324 SF
Property subtype
Office
Zoning
CC
Additional Details
Road Access
Yes
Building Details
Year Built
1960
Year Renovated
2009
Buildings
1
Units
5
Listing Agency:
Cushman & Wakefield | The Lund Company
(402) 393-8811
Listed By:
Michael Earl · License #NE 20220563
Source:
Crexi
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 6:30AM
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 Cushman & Wakefield | The Lund Company
Investment Insights
Based on property information with market context.
This office building at 13504 Stevens St. in Omaha’s Millard area was built in 1960 and renovated in 2009 for executive-suite use. The property is identified as CC-zoned and offers a configuration suited to professional office occupancy.
Access is available to Millard Avenue, 132 Street, Q Street, and L Street, providing connections to several surrounding corridors. The address is 13504 Stevens St., Omaha, NE 68137.
Access is available to Millard Avenue, 132 Street, Q Street, and L Street, providing connections to several surrounding corridors. The address is 13504 Stevens St., Omaha, NE 68137.
Key Highlights
- Renovated in 2009 for executive‑suite use
- CC zoning designation
- Built in 1960
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
$31,772
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
5.53%
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%
$635,440
$635.4K
Cap Rate 7%
$453,886
$453.9K
Cap Rate 9%
$353,022
$353.0K
Market Conditions
NOI Build-Up for 2,324 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
$48.5K $20.88/SF
− Vacancy
−$6.2K −$2.65/SF
EGI
$42.4K $18.23/SF
− OpEx
−$10.6K −$4.56/SF
NOI
$31.8K $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%
$635,440
Cap Rate 7%
$453,886
Cap Rate 9%
$353,022
Alternative Uses
Best Use
Office B
$453.9K
$397.2K – $529.5K
NOI $31,772 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$611.4K
$535.0K – $713.3K
NOI $42,800 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,225
Businesses Nearby
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?
Office building - CC-zoned office property with access to Millard Avenue, 132 Street, Q Street, and L Street.
Where is this office building located?
The property is located at 13504 Stevens St. Omaha, NE.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Renovated in 2009 for executive‑suite use; CC zoning designation; Built in 1960
