NNN Office
New
For Sale
$995,000
617 North 90th Street, Omaha, NE 68114
Leased through September 2030 with CC-ACI-2(PL) zoning and parking at the front entrance.
Property Size3,984 SF
Price / SF$249.75
Days on Market4
Property Features for 617 North 90th Street
General Information
Standard status
Active
Size
3,984 SF
Total Parking Spaces
14
Property subtype
Office
Zoning
CC-ACI-2(PL)
Listing Agency:
CBRE - Omaha
(402) 697-5843
Listed By:
David Barton · License #20150778
(402) 697-5843
Source:
Cbre
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 17 at 10:39AM
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 CBRE - Omaha
Investment Insights
Based on property information with market context.
This 3,984 SF office building at 617 North 90th Street in Omaha is subject to a lease extending through September 2030. The property carries CC-ACI-2(PL) zoning and is structured under an NNN lease. A rent bump is scheduled for October 1, 2026.
Parking is provided at the front entrance with 14 parking stalls, supplemented by adjacent street parking. The combination of an established lease term, NNN structure, commercial zoning, and dedicated parking defines the property’s current operating profile.
Parking is provided at the front entrance with 14 parking stalls, supplemented by adjacent street parking. The combination of an established lease term, NNN structure, commercial zoning, and dedicated parking defines the property’s current operating profile.
Key Highlights
- 3,984 SF office building at 617 North 90th Street, Omaha, NE 68114
- Leased through September 2030
- NNN lease structure with rent bump October 1, 2026
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
$54,466
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
5.47%
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%
$1,089,320
$1.1M
Cap Rate 7%
$778,086
$778.1K
Cap Rate 9%
$605,178
$605.2K
Market Conditions
NOI Build-Up for 3,984 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
$83.2K $20.88/SF
− Vacancy
−$10.6K −$2.65/SF
EGI
$72.6K $18.23/SF
− OpEx
−$18.2K −$4.56/SF
NOI
$54.5K $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%
$1,089,320
Cap Rate 7%
$778,086
Cap Rate 9%
$605,178
Alternative Uses
Best Use
Office B
$778.1K
$680.8K – $907.8K
NOI $54,466 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$917.2K – $1.22M
NOI $73,372 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,342
Businesses Nearby
Explore this area
Business Placement
Demographics for 68114, NE
18,078
Population
8,437
Households
2.1
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
5.8 sq mi
ZIP Area
3,117
Density / Sq Mi
$73,361
Median Household Income
$44,430
Median Earnings
$1,220
Median Rent
$273,100
Median Home Value
Market
Vacancy Rate% for Office in Omaha, NE
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Leased through September 2030 with CC-ACI-2(PL) zoning and parking at the front entrance.
Where is this office building located?
The property is located at 617 North 90th Street Omaha, NE.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,984 SF office building at 617 North 90th Street, Omaha, NE 68114; Leased through September 2030; NNN lease structure with rent bump October 1, 2026
