Mixed-Use Property with Brick
New
For Sale
$165,000
4201 Grand Avenue, Omaha, NE 68111
RESIDENTIAL, 1.5 Story, Omaha, NE
Property Size1,336 SF
Lot Size0.15 Acres
Price / SF$123.50
Days on Market2
Property Features for 4201 Grand Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Basement, Bedroom 2, Bathroom 1
Exterior features
Separate Entrance
Fencing
Chain Link
Subdivision
Lands
Lot features
Corner Lot
Elementary school
Central Park
Middle school
Monroe
High school
North
Elementary school district
Omaha
Middle school district
Omaha
High school district
Omaha
Directions
42nd to Grand
Standard status
Active
APN
0205070004
Size
1,336 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LANDS SEC-TWN-RGE 05-15-13 E 91 W 231 N 72 S 135 FT TX LT 1 SE 1/4 NW 1/4
Tax Annual Amount
1675
Legal Description
LANDS SEC-TWN-RGE 05-15-13 E 91 W 231 N 72 S 135 FT TX LT 1 SE 1/4 NW 1/4
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1930
Floors in Building
2
Roof type
Composition
Architectural style
Other
Listing Agency:
Better Homes and Gardens R.E. · Better Homes and Gardens Real Estate
(402) 932-5989
Listed By:
Mark Gorup · License #20150129
(402) 657-0573
Added: Aug 21
Last Checked: Aug 22 at 8:06AM
MLS# 22624095
Copyright © 2026 Great Plains Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines a duplex-style residence with a neighboring brick commercial building on a 0.15-acre corner lot in Omaha. The residence includes an upper level with 2 bedrooms, 1 full bath, kitchen, living room, dining area, and private laundry. Its main level has been taken down to the studs, while additional lower-level space provides unfinished area for future planning. The separate brick building measures 1,160 square feet and is currently used as a church, with an open main level and additional space below.
The property was built in 1930 and includes forced-air heating, central air, composition roofing, chain-link fencing, and a separate entrance. It is offered in its current as-is condition, with the residential and commercial components located together on Grand Avenue in Omaha.
The property was built in 1930 and includes forced-air heating, central air, composition roofing, chain-link fencing, and a separate entrance. It is offered in its current as-is condition, with the residential and commercial components located together on Grand Avenue in Omaha.
Key Highlights
- Duplex‑style residence with 2 bedrooms, 1 full bath, kitchen, living room, dining area, and private laundry
- 1,160‑square‑foot brick commercial building currently used as a church
- 0.15‑acre corner lot in Omaha
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
$11,674
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
7.08%
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%
$233,480
$233.5K
Cap Rate 7%
$166,771
$166.8K
Cap Rate 9%
$129,711
$129.7K
Market Conditions
NOI Build-Up for 1,336 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
$18.0K $13.44/SF
− Vacancy
−$1.3K −$0.96/SF
EGI
$16.7K $12.48/SF
− OpEx
−$5.0K −$3.74/SF
NOI
$11.7K $8.74/SF
Area
Omaha, NE
Vacancy
7.12%
Lease Rate
$13.44 /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%
$233,480
Cap Rate 7%
$166,771
Cap Rate 9%
$129,711
Alternative Uses
Best Use
Mixed Use
$237.0K
$207.4K – $276.6K
NOI $16,593 @ 7.0% cap · market cap 10.06%
Second Best
Multifamily LT 5
$166.8K
$145.9K – $194.6K
NOI $11,674 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$351.5K
$307.6K – $410.1K
NOI $24,605 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Explore this area
Business Placement
Demographics for 68111, NE
25,048
Population
9,729
Households
2.6
Avg Household Size
31
Median Age
12%
College-Educated
78%
High-School Grad
5.2 sq mi
ZIP Area
4,817
Density / Sq Mi
$41,010
Median Household Income
$31,610
Median Earnings
$1,109
Median Rent
$101,800
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?
Mixed-use property - Duplex-style residence paired with a neighboring brick building currently configured for church use.
Where is this mixed-use property located?
The property is located at 4201 Grand Avenue Omaha, NE.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Duplex‑style residence with 2 bedrooms, 1 full bath, kitchen, living room, dining area, and private laundry; 1,160‑square‑foot brick commercial building currently used as a church; 0.15‑acre corner lot in Omaha
