Building Details

Year Built 1918

Year Renovated 2021

Listing Agency: Better Homes and Gardens R.E.

Listed By: Lisa Marie Pringle · License #20150747 Show Phone

Source: Thatcheromaha

Added: Jul 11 Changed: Sep 2 Last Checked: Oct 7 at 5:30PM

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Investment Insights

Based on property information with market context.

Located at 2603 N 45 Street in Omaha, this CG-zoned mixed-use property was renovated in 2021. The commercial component includes an open office, an ADA-compliant restroom, ceiling-mounted security cameras, and a 2,111-square-foot walkout basement with washer/dryer hookups for storage or workspace.

A separate 1,260-square-foot heated shop features an insulated ceiling and 220-amp electrical service. The property also contains three loft-style residential apartments and a large gravel parking area accommodating employees, tenants, customers, work vehicles, trailers, and equipment. The combination of office, shop, basement, and residential areas creates a substantial mixed-use configuration at one property.

Key Highlights

• Renovated in 2021 with office, shop, basement, and residential components
• 2,111‑square‑foot walkout basement with washer/dryer hookups
• 1,260‑square‑foot heated shop with insulated ceiling and 220‑amp electrical service

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,704

Cap Rate

6.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$894,080 $894.1K

Cap Rate 7%

$638,629 $638.6K

Cap Rate 9%

$496,711 $496.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,578 SF

Gross rent

$76.9K $16.80/SF

− Vacancy

−$5.4K −$1.18/SF

EGI

$71.5K $15.62/SF

− OpEx

−$26.8K −$5.86/SF

NOI

$44.7K $9.76/SF

Area

ZIP 68104

Vacancy

7.00%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$894,080

Cap Rate 7%

$638,629

Cap Rate 9%

$496,711

Alternative Uses

Best Use

Office B

$1.09M

$952.8K – $1.27M (±1% cap)

NOI $76,224 @ 7.0% cap · market cap 10.97%

Second Best

Mixed Use

$638.6K

$558.8K – $745.1K (±1% cap)

NOI $44,704 @ 7.0% cap · market cap 6.43%

Theoretical Best

Office A

$1.60M

$1.40M – $1.86M (±1% cap)

NOI $111,795 @ 7.0% cap · market cap 16.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Law Firm Real Estate Agency Restaurant Pharmacy Big Box & Wholesale Store Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

5.5% 2019

13.2% 2020

14.2% 2021

12.6% 2022

11.7% 2023

13.7% 2024

11.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The property combines an office, heated shop, basement storage, and three loft apartments.

Where is this mixed-use property located?

The property is located at 2603 N 45 St Omaha, NE.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: Renovated in 2021 with office, shop, basement, and residential components; 2,111‑square‑foot walkout basement with washer/dryer hookups; 1,260‑square‑foot heated shop with insulated ceiling and 220‑amp electrical service