Remodeled Triplex with Off-Street
For Sale
$305,000
6779 Military Ave, Omaha, NE 68104
Three-unit property with updated residences, shared laundry, and a large yard near Benson Park.
Property Size2,380 SF
Price / SF$128.15
Days on Market10
Property Features for 6779 Military Ave
General Information
Standard status
Active
Size
2,380 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,782
Amenities
yard
shared coin laundry
in-unit laundry
Listing Agency:
Liberty Core Real Estate
(402) 305-3653
Listed By:
Kyle L. Anderson
(402) 305-3653
Source:
Exprealty
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 10:23PM
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 Liberty Core Real Estate
Investment Insights
Based on property information with market context.
This triplex includes three residential units with distinct laundry configurations. Unit #2, located on the second floor, is the larger residence and has been remodeled for new tenancy. The basement Unit #3 has also been remodeled and is ready for occupancy. Units #2 and #3 share coin-operated laundry accessed through a separate entrance, while Unit #1 has its own in-unit laundry and is currently rented.
The property includes a large yard and off-street parking. Benson Park is within walking distance, and the Benson business district is nearby, placing the property close to established recreational and commercial destinations.
The property includes a large yard and off-street parking. Benson Park is within walking distance, and the Benson business district is nearby, placing the property close to established recreational and commercial destinations.
Key Highlights
- Three‑unit multifamily property with a large yard and ample off‑street parking
- Remodeled second‑floor Unit #2 is ready for new tenancy
- Remodeled basement Unit #3 is ready for occupancy
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
$21,956
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
7.20%
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%
$439,120
$439.1K
Cap Rate 7%
$313,657
$313.7K
Cap Rate 9%
$243,956
$244.0K
Market Conditions
NOI Build-Up for 2,380 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
$32.8K $13.80/SF
− Vacancy
−$1.5K −$0.62/SF
EGI
$31.4K $13.18/SF
− OpEx
−$9.4K −$3.95/SF
NOI
$22.0K $9.23/SF
Area
ZIP 68104
Vacancy
4.50%
Lease Rate
$13.80 /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%
$439,120
Cap Rate 7%
$313,657
Cap Rate 9%
$243,956
Alternative Uses
Best Use
Multifamily LT 5
$313.7K
$274.5K – $365.9K
NOI $21,956 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$290.2K
$253.9K – $338.6K
NOI $20,315 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$830.3K
$726.5K – $968.7K
NOI $58,120 @ 7.0% cap · market cap 19.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 68104, NE
36,706
Population
16,330
Households
2.2
Avg Household Size
34
Median Age
31%
College-Educated
84%
High-School Grad
6.6 sq mi
ZIP Area
5,562
Density / Sq Mi
$57,488
Median Household Income
$38,703
Median Earnings
$1,049
Median Rent
$157,700
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?
Triplex - Three-unit property with updated residences, shared laundry, and a large yard near Benson Park.
Where is this triplex located?
The property is located at 6779 Military Ave Omaha, NE.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Three‑unit multifamily property with a large yard and ample off‑street parking; Remodeled second‑floor Unit #2 is ready for new tenancy; Remodeled basement Unit #3 is ready for occupancy
