Multifamily Property with 28
For Sale
Contact for pricing
3503 Jones St, Omaha, NE 68105
Multifamily property featuring 28 units for sale.
Property Size27,885 SF
Price / SF$93.38
Days on Market143
Property Features for 3503 Jones St
General Information
Standard status
Active
Size
27,885 SF
Property subtype
Multifamily
Zoning
R7
Building Details
Year Built
1931
Buildings
2
Units
28
Listing Agency:
Oak Investment Real Estate
(913) 669-7880
Listed By:
Spencer Goldenberg · License #20170723
Source:
Crexi
Added: Mar 23
Changed: Aug 10
Last Checked: Aug 11 at 4:43PM
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.
This multifamily property features 28 units. The property has a size of 27885 square feet.
Key Highlights
- Multifamily property with 28 units.
- Priced at $93,000 per unit.
- Built in 1931.
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
$224,714
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
8.63%
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%
$4,494,280
$4.5M
Cap Rate 7%
$3,210,200
$3.2M
Cap Rate 9%
$2,496,822
$2.5M
Market Conditions
NOI Build-Up for 27,885 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
$441.7K $15.84/SF
− Vacancy
−$33.1K −$1.19/SF
EGI
$408.6K $14.65/SF
− OpEx
−$183.9K −$6.59/SF
NOI
$224.7K $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 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%
$4,494,280
Cap Rate 7%
$3,210,200
Cap Rate 9%
$2,496,822
Alternative Uses
Best Use
Apartment 5plus
$3.21M
$2.81M – $3.75M
NOI $224,714 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.34M
$6.42M – $8.56M
NOI $513,548 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 68105, NE
22,669
Population
10,633
Households
2.1
Avg Household Size
32
Median Age
35%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
6,297
Density / Sq Mi
$53,253
Median Household Income
$36,969
Median Earnings
$1,010
Median Rent
$187,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property featuring 28 units for sale.
Where is this apartment building located?
The property is located at 3503 Jones St Omaha, NE.
What is the asking price?
The asking price for this property is $2,604,000.
What are key features of this property?
This property features: Multifamily property with 28 units.; Priced at $93,000 per unit.; Built in 1931.
