7270 Cedar St Omaha, NE 68124-2310
- Hotels
- 193,402 SF
- 3.70 lot acres
Jan 27, 2025
Current Use by Public Records
- Hotels
Property Details for 7270 Cedar St
- Year built
- 1980
- Lot size
- 3.70 lot acres
- Property size
- 193,402 SF
- Zone code
- CC
- Property type
- Hotels
- APN
- 1023445100
- APU
- 1023445100
Description
This exceptional 187-unit apartment building in Omaha, Nebraska presents a unique multifamily conversion opportunity. Located at 7270 Cedar Street, this six-story, 138,926 square foot property sits on a generous 3.7-acre lot and offers significant upside potential. Originally built in 1973 as a hotel, the property boasts extensive existing amenities including a pool, hot tub, cafe, bar, and a large courtyard. The current zoning is R-8, allowing for high-density residential use, perfectly suited for capitalizing on its proximity to the University of Nebraska-Omaha and College of Saint Mary, as well as the Aksarben Village and CHI Health Bergan Mercy Campus. With 211 parking spaces and a compelling asking price of $6,950,000 ($37,166 per unit), this property offers a rare chance to acquire a substantial asset below replacement cost. The existing infrastructure and amenities provide a strong foundation for a successful multifamily conversion, promising significant returns for the astute investor. This prime location and substantial size make this an unparalleled investment opportunity in a thriving Omaha neighborhood.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,935,000
- ML approach
- $3,925,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $2,587,000
Market price range: $1.85M - $13.0M
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Location Insight
- Map
- Local Demand
- City
- Omaha
- County
- Douglas
- State
- Nebraska
- Longitude
- -96.0256
- Latitude
- 41.2409
- CBSA code
- 36540
- CBSA name
- OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA
