High-Rise Apartment
320 North 22nd Street Omaha, NE 68102
320 North 22nd Street, Omaha, NE, 68102
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For Sale
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132-unit high-rise adjacent to Creighton University, supporting student and workforce housing needs.
Property Size75,240 SF
Price / SF$103.67
Days on Market57
Property Features for 320 North 22nd Street
General Information
- Standard status
- Active
- Size
- 75,240 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1951
Listing agency
Oak Investment Real Estate
(402) 702-2709
Listed by
John Heine · License #NE 20051167
Source
Crexi
Added: May 27 Updated: Jul 10 at 1:49PM Checked: Jul 21 at 9:24AM
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 Oak Investment Real Estate
Investment Insights
Based on property information with market context.
Capitol Hill Apartments is a 132-unit high-rise apartment community. The property is positioned to serve tenant demand connected to education and employment, with a configuration designed to accommodate a mix of student and workforce renters.
The asset is located in Downtown Omaha and is adjacent to Creighton University. Public remarks also note strong visibility and immediate access to Omaha’s primary employment and educational anchors, positioning the community within reach of key day-to-day destinations for residents.
For tenants seeking convenient proximity to university and job centers, the high-rise, multi-unit setup offers an established residential option in a concentrated market area. For buyers or operators, the property’s unit scale and adjacency to an educational anchor are practical considerations for underwriting a residential income strategy focused on student and workforce housing demand.
The asset is located in Downtown Omaha and is adjacent to Creighton University. Public remarks also note strong visibility and immediate access to Omaha’s primary employment and educational anchors, positioning the community within reach of key day-to-day destinations for residents.
For tenants seeking convenient proximity to university and job centers, the high-rise, multi-unit setup offers an established residential option in a concentrated market area. For buyers or operators, the property’s unit scale and adjacency to an educational anchor are practical considerations for underwriting a residential income strategy focused on student and workforce housing demand.
Key Highlights
- 132‑unit high‑rise apartment community
- Adjacent to Creighton University in downtown Omaha
- Year built: 1951
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.19M | $15.84 |
| − Vacancy | −$89.4k | −$1.19 |
| EGI | $1.10M | $14.65 |
| − OpEx | −$496.1k | −$6.59 |
| NOI | $606.3k | $8.06 |
75,240 SF · lease $15.84/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$8.66M
$7.58M – $10.11M
NOI $606,329 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.80M
$17.32M – $23.09M
NOI $1,385,668 @ 7.0% cap · market cap 17.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Capitol Hill Apartments
Apartment Building
S-Health Women's and Men's ...
Medical Clinic
Capitol Rows Apartments
Apartment Complex
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FAQs
What type of property is this?
Apartment building - 132-unit high-rise adjacent to Creighton University, supporting student and workforce housing needs.
Where is this apartment building located?
The property is located at 320 North 22nd Street Omaha, NE.
What is the asking price?
The asking price for this property is $7,800,000.
What are key features of this property?
This property features: 132‑unit high‑rise apartment community; Adjacent to Creighton University in downtown Omaha; Year built: 1951
