Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1600 Farnam St Omaha, NE 68102-2102

    • Commercial real estate
    • 5,000 SF
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-1024780
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Selective Site Consultants Inc / Engineering Consultant

    Property Details for 1600 Farnam St

    Year built
    1916
    Property size
    5,000 SF
    Property type
    Commercial real estate
    APN
    1037885340
    APU
    1037885340

    Description

    This exceptional investment opportunity presents the entire 17,816 square foot commercial holding at 1600 Farnam Street in Omaha, Nebraska's vibrant Central Business District (CBD). Built in 1917, this architecturally stunning 2.5-story building, formerly the First National Bank, offers a unique blend of history and modern potential. The property includes three main street storefronts currently leased to established businesses under long-term, net-net-net (NNN) leases, generating multiple income streams. Additionally, the property boasts attached parking garage rights, an original bank vault area, and income from a cell tower. Currently vacant, the substantial office space presents an ideal owner-user opportunity or could be repurposed for a variety of uses, such as event space. The building's prime corner location at 16th and Farnam offers unparalleled visibility and access, further enhanced by its proximity to the proposed trolley turnaround and stunning views of the downtown riverfront project. The nearby 700-unit NuStyle development adds to the area's growing appeal and future potential. The asking price is $2,945,000, with a price per square foot of $165.30. The property is zoned for CBD use and features a remaining lease term of 10 years. This is a rare chance to acquire a landmark Omaha property with significant income potential and redevelopment possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $363,000
      Market price range: $363k - $1.16M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -95.9376
    Latitude
    41.2573
    CBSA code
    36540
    CBSA name
    OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,315
    $20,500
    $184,000
    $204,500
    -
    $20,500
    $184,000
    $204,500

    Comparable in this City

    • Value Estimation
      $555,000
      39,526 SF

      1722 Saint Marys Ave

      COMMERCIAL (GENERAL) • 39,526 SF
      1722 Saint Marys Ave, Omaha, NE 68102-2517
      View Details
    • Value Estimation
      $300,000
      530 SF

      1012 Douglas St, Unit 503

      COMMERCIAL (GENERAL) • 530 SF
      1012 Douglas St, Omaha, NE 68102-1863
      View Details
    • Value Estimation
      $920,000
      74,443 SF

      1015 14th St

      COMMERCIAL (GENERAL) • 74,443 SF
      1015 14th St, Omaha, NE 68102-4231
      View Details
    • Value Estimation
      $760,000
      42,280 SF

      621 15th St

      COMMERCIAL (GENERAL) • 42,280 SF
      621 15th St, Omaha, NE 68102-3186
      View Details
    • Value Estimation
      $300,000
      530 SF

      1012 Douglas St, Unit 303

      COMMERCIAL (GENERAL) • 530 SF
      1012 Douglas St, Omaha, NE 68102-1861
      View Details
    • Value Estimation
      $300,000
      778 SF

      1012 Douglas St, Unit 304

      COMMERCIAL (GENERAL) • 778 SF
      1012 Douglas St, Omaha, NE 68102-1861
      View Details

    Similar Nearby for Sale

    • $2,495,000
      36,740 SF

      Vantage Pointe: Omaha Office Redevelopment

      Downtown Omaha Office Building - Redevelopment Opportunity
      1818 Leavenworth St, Omaha, NE 68102
      View Details
    • $4,495,000
      26,144 SF

      Omaha's National Building

      Historic Office & Retail Investment
      406 12Th St, Omaha, NE 68102
      View Details
    • $4,495,000
      26,144 SF

      Iconic Building in Old Market

      Office building with redevelopment potential in Omaha's Old Market.
      406 S 12Th St, Omaha, NE 68102
      View Details
    • $1,685,000
      6,776 SF

      Prime Old Market Retail Space

      Retail space in a prominent downtown Omaha location.
      501 S 13Th St, Omaha, NE 68102
      View Details
    • Contact for pricing

      Vacant Lot in Omaha

      Vacant lot with endless potential in the heart of Omaha.
      2710 Howard St, Omaha, NE 68102
      View Details
    • $595,000
      2,170 SF

      SoMa Home with Skyline Views

      Meticulously maintained home in SoMa with stunning skyline views.
      1135 Leavenworth St, Omaha, NE 68102
      View Details

    Similar Nearby for Lease

    • $240 SF/Yr
      48,608 SF

      Downtown Omaha Office Space

      Landmark building, flexible suites available
      1700 Farnam St, Omaha, NE 68102
      View Details
    • $16 SF/Yr
      26,136 SF

      Omaha Retail Space - Howard Street

      Prime Omaha storefront, multiple suites available.
      1501 Howard St, Omaha, NE 68102
      View Details
    • $18 SF/Yr
      47,872 SF

      Historic Redfield Retail Space

      Omaha's Flatiron District gem: 6,439 SF available.
      1901 Howard St, Omaha, NE 68102
      View Details
    • $11 SF/Yr
      139,424 SF

      Mastercraft Building: Omaha Office Space

      Downtown Omaha Creative Office Suites
      1111 13Th St, Omaha, NE 68102
      View Details
    • $4,620 /Mo
      40,170 SF

      Omaha Creative Office Space

      Modern Omaha office suites, flexible layouts.
      1141 11Th St, Omaha, NE 68102
      View Details
    • $10 SF/Yr
      2,086 SF

      Historic Brandeis Building Retail/Office Space

      Retail, office, and restaurant spaces in historic downtown building.
      210 S 16Th St, Omaha, NE 68102
      View Details
    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.
    1600 Farnam St
    Omaha, NE 68102-2102
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.