High-Rise Apartment
For Sale
Contact for pricing
320 North 22nd Street, Omaha, NE 68102
132-unit high-rise adjacent to Creighton University, supporting student and workforce housing needs.
Property Size75,240 SF
Price / SF$103.67
Days on Market149
Property Features for 320 North 22nd Street
General Information
Standard status
Active
Size
75,240 SF
Class
C
Property subtype
Multifamily
Zoning
CBD-ACI-1(PL)
Investment Type
Value Add
Additional Details
Multifamily Units
132
Building Details
Year Built
1951
Stories
12
Units
132
Tenancy
Multi
Listing Agency:
Oak Investment Real Estate
Listed By:
John Heine · License #NE 20051167
(402) 630-9919
Source:
Crexi
Added: May 27
Changed: Oct 10
Last Checked: Oct 20 at 5:53PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$606,329
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,126,580
$12.1M
Cap Rate 7%
$8,661,843
$8.7M
Cap Rate 9%
$6,736,989
$6.7M
Market Conditions
NOI Build-Up for 75,240 SF
Gross rent
$1.19M $15.84/SF
− Vacancy
−$89.4K −$1.19/SF
EGI
$1.10M $14.65/SF
− OpEx
−$496.1K −$6.59/SF
NOI
$606.3K $8.06/SF
Area
Omaha, NE
Vacancy
7.50%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,126,580
Cap Rate 7%
$8,661,843
Cap Rate 9%
$6,736,989
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 authorities.
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Property Analytics
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Open Analytics
Lease Details
132
Residential units
Location Intelligence
Trade Area within ½ mile
2,929
Businesses Nearby
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Business Placement
Demographics for 68102, NE
9,130
Population
5,922
Households
1.5
Avg Household Size
33
Median Age
51%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
5,072
Density / Sq Mi
$60,525
Median Household Income
$46,309
Median Earnings
$1,242
Median Rent
$350,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
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
