2929 Oak View Dr, Omaha, NE

Listing Agency: Colliers | Omaha Show Phone

Listed By: Michael Miller, SIOR Show Phone

Source: Moodyscre

Added: Aug 25, 2023 Changed: Nov 2 Last Checked: Nov 12 at 7:46AM

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Review the available facts, identify missing information and prepare questions for the agent.

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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 / Yr

$356,544

Cap Rate

7.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,130,880 $7.1M

Cap Rate 7%

$5,093,486 $5.1M

Cap Rate 9%

$3,961,600 $4.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 26,080 SF

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 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 (±1% cap)

NOI $356,544 @ 7.0% cap · market cap 7.13%

Second Best

Warehouse

$4.61M

$4.03M – $5.38M (±1% cap)

NOI $322,544 @ 7.0% cap · market cap 6.45%

Theoretical Best

Office A

$6.86M

$6.00M – $8.01M (±1% cap)

NOI $480,306 @ 7.0% cap · market cap 9.61%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

LovelySkin Retail Store ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Hotel & Motel Parking Lot & Garage Storage Facility Grocery & Convenience Store Bakery

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

1,397

Businesses Nearby

Explore this area Business Placement

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?

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.**