Brick Office Building with
For Sale
Contact for pricing
2566 Leavenworth Street, Omaha, NE 68105
Bright office layout with skylights, multiple work areas, and gated on-site parking for an owner-operator or tenant.
Property Size24,020 SF
Price / SF$137.18
Days on Market72
Property Features for 2566 Leavenworth Street
General Information
Standard status
Active
Size
24,020 SF
Total Parking Spaces
30
Property subtype
Retail, Office
Additional Details
Opportunity Zone
Yes
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Access Commercial LLC
(402) 618-5523
Listed By:
Amber Olson · License #NE 20080192
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Aug 6 at 2:16PM
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 Access Commercial LLC
Investment Insights
Based on property information with market context.
This brick office building features abundant natural light with multiple skylights, large windows, and an architectural mix of brick and beams. The space includes a large open area suited for an event center, retail use, or office user, along with a breakroom with a full kitchen and high-end finishes and fixtures. Additional improvements include a printing area, office space, and a large conference room. A second-floor office space is also available, offering generous sunlight and high-end finishes. The second floor includes an outdoor patio area designed for entertaining.
The property is home to two tenants, The House of Conundrum and Craft Axe, with leases currently in place through April 2028 and April 2027, respectively. Parking is provided on site with a secure 30-lot gated parking area, with additional parking available through the purchase of the neighboring lot.
For a buyer evaluating an owner-occupied strategy or a multi-use office scenario, the building’s combination of open space, conference facilities, kitchen-equipped breakroom, and dedicated second-floor office and patio supports a range of office and client-facing operations. The existing tenant leases may also factor into planning for continuity while considering how the available spaces could be further used or reconfigured.
The property is home to two tenants, The House of Conundrum and Craft Axe, with leases currently in place through April 2028 and April 2027, respectively. Parking is provided on site with a secure 30-lot gated parking area, with additional parking available through the purchase of the neighboring lot.
For a buyer evaluating an owner-occupied strategy or a multi-use office scenario, the building’s combination of open space, conference facilities, kitchen-equipped breakroom, and dedicated second-floor office and patio supports a range of office and client-facing operations. The existing tenant leases may also factor into planning for continuity while considering how the available spaces could be further used or reconfigured.
Key Highlights
- Abundant natural light with multiple skylights and large windows throughout the office space
- Building features two tenant leases: The House of Conundrum until April 2028 and Craft Axe until April 2027
- Includes large open space for an event center, retail, or office use, plus a breakroom with full kitchen
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
$290,546
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
8.82%
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%
$5,810,920
$5.8M
Cap Rate 7%
$4,150,657
$4.2M
Cap Rate 9%
$3,228,289
$3.2M
Market Conditions
NOI Build-Up for 24,020 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
$432.4K $18.00/SF
− Vacancy
−$17.3K −$0.72/SF
EGI
$415.1K $17.28/SF
− OpEx
−$124.5K −$5.18/SF
NOI
$290.5K $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%
$5,810,920
Cap Rate 7%
$4,150,657
Cap Rate 9%
$3,228,289
Alternative Uses
Best Use
Office B
$4.69M
$4.10M – $5.47M
NOI $328,382 @ 7.0% cap · market cap 9.97%
Second Best
Retail
$4.15M
$3.63M – $4.84M
NOI $290,546 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$6.32M
$5.53M – $7.37M
NOI $442,368 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,954
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 Office in Omaha, NE
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Bright office layout with skylights, multiple work areas, and gated on-site parking for an owner-operator or tenant.
Where is this office building located?
The property is located at 2566 Leavenworth Street Omaha, NE.
What is the asking price?
The asking price for this property is $3,295,000.
What are key features of this property?
This property features: Abundant natural light with multiple skylights and large windows throughout the office space; Building features two tenant leases: The House of Conundrum until April 2028 and Craft Axe until April 2027; Includes large open space for an event center, retail, or office use, plus a breakroom with full kitchen
