Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Historic Brick Building on 24th Title is generated by Realmo AI

    3116 N 24th St, Omaha, NE 68110

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Revitalized business district location with ample parking and natural light.

    Type:Retail, Office
    Added:
    Apr 25, 2023
    Days on Market:
    1114
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 3116 N 24th St

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1918

    Spaces For Lease

    at 3116 N 24th St Contact us

    Second Floor $12 /Mo

    Size
    1,196 SF
    Type
    Retail
    Beautiful historic brick building along the revitalized North 24th St business district....
    show more
    Contact us

    We can help!

    Listing Contact
    Regi Powell
    Regi Powell

    Listing agent Regi Powell License #NE 20180415

    Listing office PJ Morgan Real Estate

    Listing date Apr 25, 2023

    Source Crexi

    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 PJ Morgan Real Estate

    HighLights

    • High‑visibility location on revitalized North 24th St business district.
    • Ample off‑street parking.
    • New storefront.
    • Great natural light.
    • Historic brick building (built in 1918).
    • Suitable for office or creative space.

    Overview

    This historic brick building is situated along the revitalized North 24th Street business district. The available space, located on the second floor, offers a new storefront, abundant natural light, and ample off-street parking. This location is suitable for an office or creative space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Goodwin's Spencer Street ... Barber Shop Buffalo Wild Wings ... Restaurant

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Sarpy
    State
    Nebraska
    Longitude
    -95.9471286
    Latitude
    41.2874561

    Nearby Similar for Lease

    • Contact for pricing

      Prime Retail/Office Space Available

      Highly visible location with easy interstate access, ideal for retail/office.
      119th & Pacific, Omaha, NE 68154
      View Details
    • Contact for pricing

      Retail Space in Cedarnole Plaza

      Retail space with high visibility and flexible layout.
      302-328 South 72nd Street, Omaha, NE 68114
      View Details
    • Contact for pricing

      Restaurant Space with Drive-Thru

      Restaurant space with drive-thru in Harrison Village Plaza.
      16919 Audrey St, Suite 20, Omaha, NE 68136
      View Details
    • $18 SF/Yr

      Historic Redfield Building Office Space

      Renovated historic office building in Omaha's emerging Flatiron District.
      1901 Howard Street, Omaha, NE, 68102
      View Details
    • $18 SF/Yr

      Historic Art Deco Landmark

      Downtown Omaha commercial space in historic building with modern amenities.
      1904 Farnam Street, Omaha, NE, 68102
      View Details
    • Contact for pricing

      Industrial Building with Office Space

      Industrial building with office and shop space for lease.
      14242 C Circle, Omaha, NE 68144
      View Details
    • $22 SF/Yr

      Prime West Omaha Office Space

      Class A office sublease in prime West Omaha location.
      17838 Burke Street, Omaha, NE, 68118
      View Details
    • Contact for pricing

      NE, Omaha - S 72nd St

      1303 72Nd St, Unit Omaha Nebraska United States of America 68124, Omaha, NE 68114
      View Details
    • Sponsored
      Contact for pricing

      NE, Omaha - 2027 Dodge St

      2027 Dodge St, Unit 5TH, Omaha, NE 68102
      View Details
    • Contact for pricing

      NE, Omaha - Nicholas St.

      1113 Nicholas St, Omaha, NE 68102
      View Details
    • $21 SF/Yr

      Class A Office Space Omaha

      Prime West Omaha location with modern finishes and high visibility.
      331 Village Pointe Plaza, Omaha, NE, 68118
      View Details
    • $22 SF/Yr

      Prime Retail Space Available

      Excellent visibility retail space near high-traffic intersection.
      7010 Dodge Street, Omaha, NE, 68132
      View Details

    FAQs

    What type of property is this?
    Creative space - Revitalized business district location with ample parking and natural light.
    Where is this creative space located?
    The property is located at 3116 N 24th St Omaha, NE.
    What are key features of this property?
    This property features: High‑visibility location on revitalized North 24th St business district.; Ample off‑street parking.; New storefront.
    (402) 885-9929 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Regi Powell
    Regi Powell
    Real Estate License ID: NE 20180415
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3116 N 24th St, Omaha, NE 68110
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!