Class A Office Building
For Sale
Contact for pricing
17002 Marcy St, Omaha, NE 68118
Well-appointed Class A office building in affluent Southwest submarket.
Property Size50,915 SF
Price / SF$225.87
Days on Market707
Property Features for 17002 Marcy St
General Information
Standard status
Active
Size
50,915 SF
Class
A
Property subtype
Office
Zoning
MU
Occupancy
71%
Lease Type
NNN
Building Details
Year Built
2010
Buildings
1
Stories
2
Listing Agency:
Colliers - Omaha, Nebraska
Listed By:
Jeffrey Wyatt · License #NE 20090135
(402) 763-1747
Source:
Crexi
Added: Oct 2, 2024
Changed: Aug 14
Last Checked: Sep 8 at 8:29AM
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 Colliers - Omaha, Nebraska
Investment Insights
Based on property information with market context.
Built in 2010, this Class A office building offers well-appointed amenities, including a large training room, a wellness facility with locker rooms, and heated underground parking. An on-site generator and server room support ample IT infrastructure. Building occupants take advantage of excellent common area offerings including an over-sized training and meeting facility, gym and fully appointed locker rooms, and heated garage parking. The building is also equipped with a back-up generator and temperature controlled data room to thoroughly support tenant IT infrastructure demands. The current owner occupies the second floor of the building (23,032 square feet), in addition to 4,313 square feet on the first floor, allowing a new owner to occupy the two most desirable suites in the building. The full second floor of the building is an excellent mix of executive offices and windowed conference rooms, a modern kitchen / break area, and managerial offices adjacent to open cube space. Various second floor terraces also offer relaxing views of the Pacific Springs Golf Course. The current owner is willing to relocate to make way for a new occupant. With limited Class A office available in the affluent Southwest submarket, this offering presents a unique opportunity to provide employees with the benefit of a shorter commute. The office is immediately accessible from highly traveled Pacific and 168th Streets. Restaurants and retail options are abundant within one mile including Village Pointe and the Shoppes at Legacy. West Dodge Road is just 3 minutes away. The property size is 50,915 square feet.
Key Highlights
- Opportunity to occupy the two most desirable suites, including the entire second floor (23,032 sq ft) with executive offices, conference rooms, modern kitchen, and terraces overlooking the Pacific Springs Golf Course.
- Located in the affluent Southwest submarket with limited Class A office availability, offering employees a shorter commute.
- Amenities include a large training room and wellness facility with locker rooms.
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
$696,068
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
6.05%
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%
$13,921,360
$13.9M
Cap Rate 7%
$9,943,829
$9.9M
Cap Rate 9%
$7,734,089
$7.7M
Market Conditions
NOI Build-Up for 50,915 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
$1.06M $20.88/SF
− Vacancy
−$135.0K −$2.65/SF
EGI
$928.1K $18.23/SF
− OpEx
−$232.0K −$4.56/SF
NOI
$696.1K $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%
$13,921,360
Cap Rate 7%
$9,943,829
Cap Rate 9%
$7,734,089
Alternative Uses
Best Use
Office B
$9.94M
$8.70M – $11.60M
NOI $696,068 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.40M
$11.72M – $15.63M
NOI $937,683 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Explore this area
Business Placement
Demographics for 68118, NE
9,802
Population
3,670
Households
2.7
Avg Household Size
41
Median Age
65%
College-Educated
99%
High-School Grad
4.0 sq mi
ZIP Area
2,451
Density / Sq Mi
$137,358
Median Household Income
$67,653
Median Earnings
$1,820
Median Rent
$364,500
Median Home Value
Market
Vacancy Rate% for Office in Omaha, NE
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-appointed Class A office building in affluent Southwest submarket.
Where is this office building located?
The property is located at 17002 Marcy St Omaha, NE.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Opportunity to occupy the two most desirable suites, including the entire second floor (23,032 sq ft) with executive offices, conference rooms, modern kitchen, and terraces overlooking the Pacific Springs Golf Course.; Located in the affluent Southwest submarket with limited Class A office availability, offering employees a shorter commute.; Amenities include a large training room and wellness facility with locker rooms.
