Single-Tenant Flex Office
For Sale
Contact for pricing
3626 S 149th St, Omaha, NE 68144
Turnkey freestanding single-tenant building with a finished, temp-controlled bay and a 9' x 20' overhead door.
Property Size4,141 SF
Price / SF$321.18
Days on Market154
Property Features for 3626 S 149th St
General Information
Standard status
Active
Size
4,141 SF
Property subtype
OFFICE
Building Details
Tenancy
Single
Listing Agency:
Lee & Associates | Omaha
(402) 740-6791
Listed By:
Benjamin Pearson · License #20090103
(402) 740-6791
Source:
Moodyscre
Added: Mar 17
Changed: Jul 28
Last Checked: Jul 28 at 6:31AM
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 Lee & Associates | Omaha
Investment Insights
Based on property information with market context.
This turnkey, single-tenant freestanding flex office building totals approximately 4,141 square feet and is described as headquarters-quality with finished, high-end finishes throughout. The building includes a finished, temperature-controlled bay featuring a 9' x 20' overhead door, creating a controlled-access area within the overall office/flex layout.
The property is located off Industrial Rd and 144th St in Altech Business Park, providing direct access to the business park setting.
Designed for occupiers who want both office finishes and a functional, temp-controlled bay area, this offering delivers a complete, ready-to-use configuration within a compact footprint.
The property is located off Industrial Rd and 144th St in Altech Business Park, providing direct access to the business park setting.
Designed for occupiers who want both office finishes and a functional, temp-controlled bay area, this offering delivers a complete, ready-to-use configuration within a compact footprint.
Key Highlights
- ±4,141 SF freestanding, single‑tenant building with finished, headquarters‑quality finishes
- Finished, temperature‑controlled bay
- 9' x 20' overhead door
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
$56,612
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
4.26%
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%
$1,132,240
$1.1M
Cap Rate 7%
$808,743
$808.7K
Cap Rate 9%
$629,022
$629.0K
Market Conditions
NOI Build-Up for 4,141 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
$86.5K $20.88/SF
− Vacancy
−$11.0K −$2.65/SF
EGI
$75.5K $18.23/SF
− OpEx
−$18.9K −$4.56/SF
NOI
$56.6K $13.67/SF
Area
Omaha, NE
Vacancy
12.70%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$1,132,240
Cap Rate 7%
$808,743
Cap Rate 9%
$629,022
Alternative Uses
Best Use
Office B
$808.7K
$707.7K – $943.5K
NOI $56,612 @ 7.0% cap · market cap 4.26%
Second Best
Flex RnD
$613.7K
$537.0K – $716.0K
NOI $42,959 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.09M
$953.3K – $1.27M
NOI $76,263 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,072
Businesses Nearby
Balanced
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 Office in Omaha, NE
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Turnkey freestanding single-tenant building with a finished, temp-controlled bay and a 9' x 20' overhead door.
Where is this flex space located?
The property is located at 3626 S 149th St Omaha, NE.
What is the asking price?
The asking price for this property is $1,330,000.
What are key features of this property?
This property features: ±4,141 SF freestanding, single‑tenant building with finished, headquarters‑quality finishes; Finished, temperature‑controlled bay; 9' x 20' overhead door
