Office Building for
For Sale
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13829 Millard Avenue, Omaha, NE 68137
Office building offering approximately 2,600 sq ft for sale.
Property Size2,600 SF
Price / SF$263.46
Days on Market53
Property Features for 13829 Millard Avenue
General Information
Standard status
Active
Size
2,600 SF
Class
A
Total Parking Spaces
12
Property subtype
Office
Zoning
Commercial
Building Details
Year Built
1983
Year Renovated
2009
Buildings
1
Units
2
Listing Agency:
Real Estate Associates
Listed By:
Mark Abboud · License #20090152
Source:
Crexi
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 3 at 8:30AM
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 Real Estate Associates
Investment Insights
Based on property information with market context.
This office building is offered for sale. The property totals approximately 2,600 sq ft, providing dedicated workspace in a single commercial structure.
The offering is located at 13829 Millard Avenue in Omaha, Nebraska. Access and surrounding context are not detailed in the provided information, so potential occupants and buyers should confirm access, parking, and nearby amenities directly.
For buyers or tenants evaluating office space, the key available details are the building type and approximate size of the offering.
The offering is located at 13829 Millard Avenue in Omaha, Nebraska. Access and surrounding context are not detailed in the provided information, so potential occupants and buyers should confirm access, parking, and nearby amenities directly.
For buyers or tenants evaluating office space, the key available details are the building type and approximate size of the offering.
Key Highlights
- Office building built in 1983
- Approximately 2,600 sq ft office space
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
$35,545
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
5.19%
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%
$710,900
$710.9K
Cap Rate 7%
$507,786
$507.8K
Cap Rate 9%
$394,944
$394.9K
Market Conditions
NOI Build-Up for 2,600 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
$54.3K $20.88/SF
− Vacancy
−$6.9K −$2.65/SF
EGI
$47.4K $18.23/SF
− OpEx
−$11.8K −$4.56/SF
NOI
$35.5K $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%
$710,900
Cap Rate 7%
$507,786
Cap Rate 9%
$394,944
Alternative Uses
Best Use
Office B
$507.8K
$444.3K – $592.4K
NOI $35,545 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$684.0K
$598.5K – $798.1K
NOI $47,883 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,122
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 - Office building offering approximately 2,600 sq ft for sale.
Where is this office building located?
The property is located at 13829 Millard Avenue Omaha, NE.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Office building built in 1983; Approximately 2,600 sq ft office space
