Mixed-Use Triplex with
For Sale
Contact for pricing
2601/2603 N 45th St, Omaha, NE 68104
Triplex property with three loft-style units plus a designated office space and detached outbuilding, updated between 2019 and 2021.
Property Size4,639 SF
Price / SF$156.28
Days on Market52
Property Features for 2601/2603 N 45th St
General Information
Standard status
Active
Size
4,639 SF
Class
C
Property subtype
Mixed Use
Zoning
GC-General Commercial
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Owner/User
Net Operating Income
$45,890
Units
Multifamily Units
3
Office Units
1
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1918
Year Renovated
2021
Buildings
2
Units
4
Tenancy
Multi
Listing Agency:
Better Homes and Gardens Real Estate The Good Life Group Omaha
(402) 660-9078
Listed By:
Lisa Pringle · License #NE 20150747
Source:
Crexi
Added: Jul 9
Changed: Aug 22
Last Checked: Aug 28 at 7:13PM
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 Better Homes and Gardens Real Estate The Good Life Group Omaha
Investment Insights
Based on property information with market context.
This mixed-use property includes three loft-style residential units, a designated office space, and a detached outbuilding. The components were updated between 2019 and 2021. The property also features fenced outdoor areas and off-street parking.
Located at 2601/2603 N. 45th St in Omaha, the offering is described as being in the heart of Benson. The property is zoned GI (General Industrial).
With both residential and commercial space on-site, the building is structured to support multiple income streams from the residential and office areas.
Located at 2601/2603 N. 45th St in Omaha, the offering is described as being in the heart of Benson. The property is zoned GI (General Industrial).
With both residential and commercial space on-site, the building is structured to support multiple income streams from the residential and office areas.
Key Highlights
- 1918 mixed‑use triplex with three loft‑style residential units plus a designated office space
- Updated between 2019 and 2021, including upgrades to the residential and office spaces
- Zoned GI (General Industrial) for business owner‑user or investor use
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
$42,796
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
5.90%
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%
$855,920
$855.9K
Cap Rate 7%
$611,371
$611.4K
Cap Rate 9%
$475,511
$475.5K
Market Conditions
NOI Build-Up for 4,639 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
$64.0K $13.80/SF
− Vacancy
−$2.9K −$0.62/SF
EGI
$61.1K $13.18/SF
− OpEx
−$18.3K −$3.95/SF
NOI
$42.8K $9.23/SF
Area
ZIP 68104
Vacancy
4.50%
Lease Rate
$13.80 /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%
$855,920
Cap Rate 7%
$611,371
Cap Rate 9%
$475,511
Alternative Uses
Best Use
Office B
$1.10M
$965.5K – $1.29M
NOI $77,239 @ 7.0% cap · market cap 10.65%
Second Best
Multifamily LT 5
$611.4K
$535.0K – $713.3K
NOI $42,796 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,284 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
3
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 68104, NE
36,706
Population
16,330
Households
2.2
Avg Household Size
34
Median Age
31%
College-Educated
84%
High-School Grad
6.6 sq mi
ZIP Area
5,562
Density / Sq Mi
$57,488
Median Household Income
$38,703
Median Earnings
$1,049
Median Rent
$157,700
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?
Triplex - Triplex property with three loft-style units plus a designated office space and detached outbuilding, updated between 2019 and 2021.
Where is this triplex located?
The property is located at 2601/2603 N 45th St Omaha, NE.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 1918 mixed‑use triplex with three loft‑style residential units plus a designated office space; Updated between 2019 and 2021, including upgrades to the residential and office spaces; Zoned GI (General Industrial) for business owner‑user or investor use
