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    The Largest CRE Database in the US with Over 1 Million Listings

    11606 Nicholas St Omaha, NE 68154

    Sponsored
    For Lease
    $17 SF/Yr

    Prime Omaha Office Space: 1,733 SF Available

    Lot size:
    31,704 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    427
    This exceptional three-story office building, located at 11606 Nicholas Street in Omaha, Nebraska, presents a unique opportunity. Boasting a total of 31,704 square feet, the property offers a blend of traditional, executive, and creative office spaces, making it suitable for a variety of businesses. Currently, 1,733 square feet are available for lease at a rate of $17.50 per square foot. Built in 1994 and renovated in 2007, the Class B building sits on a spacious 2.04-acre lot and features ample parking with 143 spaces. The property is zoned GO (General Office) within Douglas County and benefits from its convenient Omaha location, zip code 68154. The single building offers multiple tenancy options, providing flexibility for businesses of varying sizes. Its modern amenities and spacious layout create a productive and comfortable work environment. This is an excellent opportunity to secure office space in a well-maintained building with convenient access and ample parking in a thriving Omaha business district. The property's versatile design caters to diverse business needs, making it an ideal location for companies seeking a functional and attractive office space. Interested parties should inquire about lease terms and availability.

    Property Features for 11606 Nicholas St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    31,704 SF
    Class
    B
    Total Rate
    46235

    Building Details

    Year Built/Renovated
    1994/2007
    Buildings
    1
    Stories
    3

    Spaces For Lease

    at 11606 Nicholas St, Omaha, NE 68154 Contact us
    Unit Suite 700

    $17 /Mo

    Size
    1,733 SF
    Contact us

    We can help!

    Listing Contact
    Sam Estivo

    Learn more

    Property Insight Report

    HighLights

    • Three‑story, 31,704 SF office building in Omaha, NE.
    • 1,733 SF currently available for lease at $17.50/SF.
    • Class B building, built in 1994, renovated in 2007, situated on a 2.04‑acre lot.
    • Features 143 parking spaces, monument signage, and views of Miracle Hills Golf Course.
    • Includes six private offices, open space, reception area, and common area restrooms; 2024 NNN estimated at $12.63/SF (includes utilities and janitorial).
    Property Profile Location Intelligence

    Current Use by Public Records

    Vicki Chadd - Mortgage ... Loan Service Dr. Linda Morgan Physician Mary Haschke, MD Ophthalmologist Hospice of the Midwest - Omaha Nursing Home Staci Hanus, OD Physician

    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
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.09548621
    Latitude
    41.26969757

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    FAQs

    What type of property is this?
    Office space - Prime Omaha Office Space: 1,733 SF Available
    Where is this office space located?
    The property is located at 11606 Nicholas St Omaha, NE.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Three-story, 31,704 SF office building in Omaha, NE.; 1,733 SF currently available for lease at $17.50/SF.; Class B building, built in 1994, renovated in 2007, situated on a 2.04-acre lot.
    Request Owner's contact information
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    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
    11606 Nicholas St Omaha, NE 68154
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    Listing Contact
    Sam Estivo
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