Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Site Near Shadow Lake Title is generated by Realmo AI

    785 Olson Dr, Papillion, NE 68046

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial development site near Shadow Lake Towne Center.

    Type:Land
    Added:
    Feb 26, 2024
    Days on Market:
    829
    Last Refresh:
    May 12 at 10:02 pm

    Property Features for 785 Olson Dr

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Justin Riviera

    Listing agent Justin Riviera License #NE 20110449

    Listing office Cushman & Wakefield | The Lund Company

    Listing date Feb 26, 2024

    Source Crexi

    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 Cushman & Wakefield | The Lund Company

    HighLights

    • Prime development site near Shadow Lake Towne Center in rapidly expanding Papillion area.
    • Located off main entrance to Shadow Lake Towne Center, providing access to amenities.
    • Proximity to Highway 370 ensures easy access and high visibility.
    • GC (General Commercial) zoning allows for a wide range of commercial uses.
    • Multi‑family development is a possible option under current zoning.
    • Additional 1.34 acre retail/office pad site is also available.

    Overview

    A development site is available near Shadow Lake Towne Center in the rapidly expanding Papillion area. Located just off the main entrance to Shadow Lake Towne Center, the site benefits from the amenities of the Towne Center and offers accessibility and visibility due to its proximity to Highway 370. The GC zoning allows for a variety of commercial uses, with a possible multi-family option. An additional 1.34-acre retail/office pad site is also available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Papillion
    County
    Sarpy
    State
    Nebraska
    Longitude
    -96.0325899
    Latitude
    41.1378478

    Nearby Similar for Sale

    • $4,222,910
      10,150 SF

      La Petite Day Care Property

      Free-standing day care center in high-traffic Omaha MSA location.
      11328 S 96th St, Papillion, NE 68046
      View Details
    • $3,375,700
      2,400 SF

      New Panera Bread with Drive-Thru

      New construction Panera Bread with drive-thru in growing suburb.
      1298 S Washington St, Papillion, NE
      View Details
    • $169,000
      169,000 SF

      Industrial Property with Dock Loading

      Industrial property featuring dock loading and front park/rear load.
      13760 Hwy 370, Papillion, NE 68138
      View Details
    • $757,500

      6.06 Acres Near Recreational Complexes

      Land parcel near Giles Road primed for visionary development.
      7610 S 66th Street, Papillion, NE 68133
      View Details
    • $48,000

      Residential Lots in Desirable Area

      Papillion lots suitable for single-family or duplex development.
      1005 Patricia Drive, Papillion, NE 68046
      View Details
    • $425,000
      1,229 SF

      Papillion Office Condo For Sale

      Office condo in high visibility Papillion location near Highway 370.
      10791 S 72nd St, Papillion, NE 68133
      View Details
    • $74,000

      Residential Lot in Granite Lake

      Desirable Papillion lot near Omaha metro amenities.
      10221 Cove Hollow Drive, Papillion, NE 68046
      View Details
    • Contact for pricing
      2,400 SF

      Restaurant Property in Papillion, NE

      2,400 SF restaurant property for sale in Papillion, Nebraska.
      117 Cedardale Road, Papillion (Omaha MSA), NE 68046
      View Details
    • $48,000

      Residential Lots in Papillion, NE

      Non-builder lots with utilities in a desirable Papillion location.
      1001 Patricia Drive, Papillion, NE 68046
      View Details
    • $48,000

      Residential Lots in Papillion, NE

      Non-builder lots with utilities in desirable Papillion location.
      1007 Patricia Drive, Papillion, NE 68046
      View Details
    • $48,000

      Residential Lots in Papillion, NE

      Non-builder lots with utilities in desirable Papillion location.
      1009 Patricia Drive, Papillion, NE 68046
      View Details
    • $48,000

      Residential Lots in Papillion, NE

      Non-builder lots with utilities in desirable Papillion location.
      1103 Patricia Drive, Papillion, NE 68046
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial development site near Shadow Lake Towne Center.
    Where is this commercial land located?
    The property is located at 785 Olson Dr Papillion, NE.
    What is the asking price?
    The asking price for this property is $988,810.
    What are key features of this property?
    This property features: Prime development site near Shadow Lake Towne Center in rapidly expanding Papillion area.; Located off main entrance to Shadow Lake Towne Center, providing access to amenities.; Proximity to Highway 370 ensures easy access and high visibility.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Justin Riviera
    Real Estate License ID: NE 20110449
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    785 Olson Dr, Papillion, NE 68046
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!