End-Cap Retail
For Sale
$4,245,500
3253 Dodge Street, Omaha, NE 68131
Built-out space includes a loading dock and direct access to an attached parking garage.
Property Size16,982 SF
Price / SF$249.74
Days on Market35
Property Features for 3253 Dodge Street
General Information
Standard status
Active
Size
16,982 SF
Total Parking Spaces
660
Property subtype
Retail
Site & Location
Corner Location
Yes
End Cap
Yes
Traffic Count
32,000 vehicles/day
Amenities
loading dock
attached parking garage
public transit
Building Details
Building Size
16,982 SF
Year Built
2010
Tenancy
Single
Listing Agency:
OMNE Partners
(402) 504-2997
Listed By:
Colin Fangman · License #20210258
Source:
Omnepartners
Added: Jul 27
Changed: Aug 29
Last Checked: Jun 26 at 8:14PM
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 OMNE Partners
Investment Insights
Based on property information with market context.
This retail space occupies a prominent end-cap position at the southeast corner of Dodge Street and 33rd Street. The built-out interior was previously used as a grocery store and includes a loading dock. Retail use is supported by the property information.
An attached parking garage provides 660 stalls with direct access to the store. The corner includes a four-way signalized intersection, 135 feet along Dodge Street, and 90 feet along 33rd Street. Daily traffic is reported at 32,000 vehicles based on AADT.
The property is located within Midtown Crossing, alongside an Element Hotel, residential buildings, shopping, restaurants, entertainment, and corporate headquarters. Public transportation includes the ORBT bus route, with covered stops on both sides of the intersection, along with a planned Omaha Streetcar stop.
An attached parking garage provides 660 stalls with direct access to the store. The corner includes a four-way signalized intersection, 135 feet along Dodge Street, and 90 feet along 33rd Street. Daily traffic is reported at 32,000 vehicles based on AADT.
The property is located within Midtown Crossing, alongside an Element Hotel, residential buildings, shopping, restaurants, entertainment, and corporate headquarters. Public transportation includes the ORBT bus route, with covered stops on both sides of the intersection, along with a planned Omaha Streetcar stop.
Key Highlights
- End‑cap retail position at the southeast corner of 33rd Street and Dodge Street
- Attached parking garage with 660 stalls and direct store access
- 135 feet of frontage on Dodge Street and 90 feet on 33rd Street
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
$205,632
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
4.84%
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%
$4,112,640
$4.1M
Cap Rate 7%
$2,937,600
$2.9M
Cap Rate 9%
$2,284,800
$2.3M
Market Conditions
NOI Build-Up for 17,000 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
$306.0K $18.00/SF
− Vacancy
−$12.2K −$0.72/SF
EGI
$293.8K $17.28/SF
− OpEx
−$88.1K −$5.18/SF
NOI
$205.6K $12.10/SF
Area
Omaha, NE
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,112,640
Cap Rate 7%
$2,937,600
Cap Rate 9%
$2,284,800
Alternative Uses
Best Use
Retail
$2.94M
$2.57M – $3.43M
NOI $205,632 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.47M
$3.91M – $5.22M
NOI $313,083 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 68131, NE
13,609
Population
7,861
Households
1.7
Avg Household Size
29
Median Age
46%
College-Educated
91%
High-School Grad
2.1 sq mi
ZIP Area
6,480
Density / Sq Mi
$47,800
Median Household Income
$30,808
Median Earnings
$1,081
Median Rent
$224,500
Median Home Value
Market
Vacancy Rate% for Retail in Omaha, NE
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Built-out space includes a loading dock and direct access to an attached parking garage.
Where is this retail space located?
The property is located at 3253 Dodge Street Omaha, NE.
What is the asking price?
The asking price for this property is $4,245,500.
What are key features of this property?
This property features: End‑cap retail position at the southeast corner of 33rd Street and Dodge Street; Attached parking garage with 660 stalls and direct store access; 135 feet of frontage on Dodge Street and 90 feet on 33rd Street
