Fully Leased Shopping
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3404 South 144th Street, Omaha, NE 68144
Retail center positioned near shopping, dining, banking, and other services within its submarket.
Property Size13,022 SF
Price / SF$237.29
Days on Market62
Property Features for 3404 South 144th Street
General Information
Standard status
Active
Size
13,022 SF
Total Parking Spaces
78
Property subtype
Retail
Zoning
MU
Occupancy
100%
Building Details
Year Built
2002
Year Renovated
2012
Buildings
1
Tenancy
Multi
Listing Agency:
Cushman & Wakefield | The Lund Company
(402) 393-8811
Listed By:
Richard Secor · License #NE 0850068
Source:
Crexi
Added: Jun 30
Changed: Aug 30
Last Checked: Aug 30 at 4:05AM
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 Cushman & Wakefield | The Lund Company
Investment Insights
Based on property information with market context.
This 13,022-square-foot shopping center contains retail space and was built in 2002. The property is 100% leased and carries MU zoning, providing an established commercial asset with current occupancy in place.
Located at the intersection of South 144th Street and Oak View Drive in Omaha, the center sits within a submarket offering plentiful shopping, dining, banking, and other services. The property address is 3404 South 144th Street, Omaha, NE 68144.
Located at the intersection of South 144th Street and Oak View Drive in Omaha, the center sits within a submarket offering plentiful shopping, dining, banking, and other services. The property address is 3404 South 144th Street, Omaha, NE 68144.
Key Highlights
- 13,022‑square‑foot shopping center
- 100% leased retail property
- Built in 2002
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
$157,514
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
5.10%
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%
$3,150,280
$3.2M
Cap Rate 7%
$2,250,200
$2.3M
Cap Rate 9%
$1,750,156
$1.8M
Market Conditions
NOI Build-Up for 13,022 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
$234.4K $18.00/SF
− Vacancy
−$9.4K −$0.72/SF
EGI
$225.0K $17.28/SF
− OpEx
−$67.5K −$5.18/SF
NOI
$157.5K $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%
$3,150,280
Cap Rate 7%
$2,250,200
Cap Rate 9%
$1,750,156
Alternative Uses
Best Use
Retail
$2.25M
$1.97M – $2.63M
NOI $157,514 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $239,821 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,513
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 68144, NE
24,994
Population
11,209
Households
2.2
Avg Household Size
38
Median Age
46%
College-Educated
96%
High-School Grad
7.3 sq mi
ZIP Area
3,424
Density / Sq Mi
$81,887
Median Household Income
$46,271
Median Earnings
$1,138
Median Rent
$248,900
Median Home Value
Market
Vacancy Rate% for Retail in Omaha, NE
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Oakview Plaza — 3111 Oak View Dr, Omaha, NE 68144
- Progress Plaza Shopping Center — 3425 Oak View Dr, Omaha, NE 68144
- Oak View Mall — 3001 S 144th St, Omaha, NE 68144
- West Center Oaks — 2735 S 140th St, Omaha, NE 68144
- Harvey Oaks Shopping Center — W Center Rd, Omaha, NE 68144
Frequently Asked Questions
What type of property is this?
Shopping center - Retail center positioned near shopping, dining, banking, and other services within its submarket.
Where is this shopping center located?
The property is located at 3404 South 144th Street Omaha, NE.
What is the asking price?
The asking price for this property is $3,090,000.
What are key features of this property?
This property features: 13,022‑square‑foot shopping center; 100% leased retail property; Built in 2002
