Mixed-Use Retail Building with
For Sale
$4,000,000
1402-1408 Howard Street, Omaha, NE 68102
Historic two-story brick mixed-use building offers a rooftop patio for an elevated tenant experience.
Property Size15,156 SF
Days on Market173
Property Features for 1402-1408 Howard Street
General Information
Standard status
Active
Size
15,156 SF
Property subtype
Street Retail
Amenities
rooftop patio
Building Details
Building Size
15,156 SF
Year Built
2019
Stories
2
Construction
brick
Listing Agency:
NAI NP Dodge
(402) 255-6060
Listed By:
Eric Wieseler · License #20050563
(402) 255-6060
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 9
Last Checked: Aug 9 at 4:27AM
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 NAI NP Dodge
Investment Insights
Based on property information with market context.
This mixed-use property includes a rooftop patio and features a historic brick, two-story building structure. The configuration is designed to support both retail-oriented street presence and an elevated outdoor space.
Located at 1402 Howard Street in Omaha’s Historic Old Market, the property is positioned for foot-traffic driven business activity associated with the area.
Located at 1402 Howard Street in Omaha’s Historic Old Market, the property is positioned for foot-traffic driven business activity associated with the area.
Key Highlights
- Historic Old Market two‑story brick mixed‑use building
- Rooftop patio available
- Built in 2019
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
$183,327
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
4.58%
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%
$3,666,540
$3.7M
Cap Rate 7%
$2,618,957
$2.6M
Cap Rate 9%
$2,036,967
$2.0M
Market Conditions
NOI Build-Up for 15,156 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
$272.8K $18.00/SF
− Vacancy
−$10.9K −$0.72/SF
EGI
$261.9K $17.28/SF
− OpEx
−$78.6K −$5.18/SF
NOI
$183.3K $12.10/SF
Area
Omaha, NE
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,666,540
Cap Rate 7%
$2,618,957
Cap Rate 9%
$2,036,967
Alternative Uses
Best Use
Retail
$2.62M
$2.29M – $3.06M
NOI $183,327 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.99M
$3.49M – $4.65M
NOI $279,123 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,297
Businesses Nearby
13k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Embassy Suites By Hilton Omaha Downtown Old Market
Hotels & Casinos
11,593 visits/mo
0.4 miles
Moxy Hotels
Hotels & Casinos
1,209 visits/mo
0.3 miles
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 Retail in Omaha, NE
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Historic two-story brick mixed-use building offers a rooftop patio for an elevated tenant experience.
Where is this retail space located?
The property is located at 1402-1408 Howard Street Omaha, NE.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Historic Old Market two‑story brick mixed‑use building; Rooftop patio available; Built in 2019
