Office Building with Golf
For Sale
Contact for pricing
17110 Marcy St, Omaha, NE 68118
Office building with upcoming vacant space and golf course views.
Property Size43,698 SF
Price / SF$214
Days on Market1021
Property Features for 17110 Marcy St
General Information
Standard status
Active
Size
43,698 SF
Class
A
Property subtype
Office
Zoning
MU - Mixed Use
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
2007
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Investors Realty Inc
(402) 778-7553
Listed By:
JP Raynor · License #NE 20040992
Source:
Crexi
Added: Oct 26, 2023
Changed: Aug 8
Last Checked: Aug 8 at 4:32AM
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 Investors Realty Inc
Investment Insights
Based on property information with market context.
This commercial property presents an opportunity for owner use, featuring views of a golf course and convenient access to the West Dodge Expressway. The building offers aesthetic appeal and strategic location advantages. There is a spacious 10,170 square feet of upcoming vacant space.
Key Highlights
- 10,170 square feet of upcoming vacant space.
- Enjoy picturesque golf course views.
- Convenient access to the West Dodge Expressway.
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
$597,403
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
6.36%
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%
$11,948,060
$11.9M
Cap Rate 7%
$8,534,329
$8.5M
Cap Rate 9%
$6,637,811
$6.6M
Market Conditions
NOI Build-Up for 43,698 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
$912.4K $20.88/SF
− Vacancy
−$115.9K −$2.65/SF
EGI
$796.5K $18.23/SF
− OpEx
−$199.1K −$4.56/SF
NOI
$597.4K $13.67/SF
Area
Omaha, NE
Vacancy
12.70%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$11,948,060
Cap Rate 7%
$8,534,329
Cap Rate 9%
$6,637,811
Alternative Uses
Best Use
Office B
$8.53M
$7.47M – $9.96M
NOI $597,403 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.50M
$10.06M – $13.41M
NOI $804,770 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 68118, NE
9,802
Population
3,670
Households
2.7
Avg Household Size
41
Median Age
65%
College-Educated
99%
High-School Grad
4.0 sq mi
ZIP Area
2,451
Density / Sq Mi
$137,358
Median Household Income
$67,653
Median Earnings
$1,820
Median Rent
$364,500
Median Home Value
Market
Vacancy Rate% for Office in Omaha, NE
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building with upcoming vacant space and golf course views.
Where is this office building located?
The property is located at 17110 Marcy St Omaha, NE.
What is the asking price?
The asking price for this property is $9,395,000.
What are key features of this property?
This property features: 10,170 square feet of upcoming vacant space.; Enjoy picturesque golf course views.; Convenient access to the West Dodge Expressway.
