Functional Multi-Use Distribution
For Sale
Contact for pricing
2929 Oak View Dr, Omaha, NE
Clean, versatile distribution facility with office and retail potential.
Property Size26,080 SF
Lot Size4.32 Acres
Price / SF$191.72
Days on Market1084
Property Features for 2929 Oak View Dr
General Information
Standard status
Active
Size
26,080 SF
Lot size
4.32 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Colliers | Omaha
(402) 578-4040
Listed By:
Michael Miller, SIOR · License #20210247
(402) 578-4040
Source:
Moodyscre
Added: Aug 25, 2023
Changed: Aug 8
Last Checked: Aug 11 at 12:14PM
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
Investment Insights
Based on property information with market context.
This multi-use distribution facility, constructed in 1995 with remodeling in 2010 and an addition in 2014, offers a functional space suitable for in-person retail sales, remote sales operations such as a call center, general office operations, and distribution purposes. The building features a freight elevator that services mezzanine storage. The office area includes a private office, open office space, conference rooms, call center space, and an updated server room. The property benefits from high visibility, with over 40,000 vehicles per day. Signage opportunities include monument and building options. Situated immediately south of Oak View Drive and West Center Road, the property is located on a 4.31-acre lot, equivalent to approximately 187,744 square feet. The building itself measures 26,080 square feet and features 100% air conditioning, LED lighting, and heavy electrical power. The masonry building has a steel roof truss. Real estate taxes for 2022 were $117,981.48.
Key Highlights
- Rare, clean, functional, and multi‑use distribution facility.
- High visibility location with over 40,000 vehicles per day (VPD).
- Versatile office space including private offices, open office, conference rooms, call center, and updated server room.
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
$356,544
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
7.13%
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%
$7,130,880
$7.1M
Cap Rate 7%
$5,093,486
$5.1M
Cap Rate 9%
$3,961,600
$4.0M
Market Conditions
NOI Build-Up for 26,080 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
$544.6K $20.88/SF
− Vacancy
−$69.2K −$2.65/SF
EGI
$475.4K $18.23/SF
− OpEx
−$118.8K −$4.56/SF
NOI
$356.5K $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%
$7,130,880
Cap Rate 7%
$5,093,486
Cap Rate 9%
$3,961,600
Alternative Uses
Best Use
Office B
$5.09M
$4.46M – $5.94M
NOI $356,544 @ 7.0% cap · market cap 7.13%
Second Best
Warehouse
$4.61M
$4.03M – $5.38M
NOI $322,544 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$6.86M
$6.00M – $8.01M
NOI $480,306 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,397
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Omaha, NE
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution property - Clean, versatile distribution facility with office and retail potential.
Where is this distribution property located?
The property is located at 2929 Oak View Dr Omaha, NE.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Rare, clean, functional, and multi‑use distribution facility.; High visibility location with over 40,000 vehicles per day (VPD).; Versatile office space including **private offices, open office, conference rooms, call center, and updated server room.**
