Two-Bay Retail
For Sale
$475,000
2416 - 2616 Leavenworth Street, Omaha, NE 68105
Connected bays provide flexibility for a single occupant or separate commercial users.
Property Size3,401 SF
Price / SF$139.66
Days on Market168
Property Features for 2416 - 2616 Leavenworth Street
General Information
Standard status
Active
Size
3,401 SF
Property subtype
Street Retail
Building Details
Building Size
3,401 SF
Year Built
1925
Listing Agency:
Oak Investment Real Estate
(402) 709-4331
Listed By:
Colleen Mason
(402) 709-4331
Source:
Thebrokerlist
Added: Mar 16
Changed: Aug 29
Last Checked: Aug 29 at 5:25PM
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 Oak Investment Real Estate
Investment Insights
Based on property information with market context.
This 3,401 SF retail building, constructed in 1925, is arranged as two connected bays currently operating together for one user. The configuration may allow the space to be separated for multiple occupants, subject to applicable approvals. Recent capital work includes a new roof and HVAC systems.
The property is directly across from Oxworth Apartments, a 194-unit market-rate development projected for delivery in 2027. A rear area offers on-site parking or patio potential, supporting consideration of retail, restaurant, office, or live-work uses.
The property is directly across from Oxworth Apartments, a 194-unit market-rate development projected for delivery in 2027. A rear area offers on-site parking or patio potential, supporting consideration of retail, restaurant, office, or live-work uses.
Key Highlights
- 3,401 SF retail building with two connected bays
- Currently configured for one user; layout may support separation into multiple spaces
- New roof and HVAC systems among recent capital improvements
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
$41,138
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
8.66%
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%
$822,760
$822.8K
Cap Rate 7%
$587,686
$587.7K
Cap Rate 9%
$457,089
$457.1K
Market Conditions
NOI Build-Up for 3,401 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
$61.2K $18.00/SF
− Vacancy
−$2.4K −$0.72/SF
EGI
$58.8K $17.28/SF
− OpEx
−$17.6K −$5.18/SF
NOI
$41.1K $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%
$822,760
Cap Rate 7%
$587,686
Cap Rate 9%
$457,089
Alternative Uses
Best Use
Retail
$587.7K
$514.2K – $685.6K
NOI $41,138 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$894.8K
$782.9K – $1.04M
NOI $62,635 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 68105, NE
22,669
Population
10,633
Households
2.1
Avg Household Size
32
Median Age
35%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
6,297
Density / Sq Mi
$53,253
Median Household Income
$36,969
Median Earnings
$1,010
Median Rent
$187,600
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 - Connected bays provide flexibility for a single occupant or separate commercial users.
Where is this retail space located?
The property is located at 2416 - 2616 Leavenworth Street Omaha, NE.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3,401 SF retail building with two connected bays; Currently configured for one user; layout may support separation into multiple spaces; New roof and HVAC systems among recent capital improvements
