Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    406 12Th St Omaha, NE 68102

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Historic Office & Retail Investment

    Property size:
    26,144 SF

    Property Features for 406 12Th St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    26,144 SF
    Class
    B
    Lot Size
    5,793 SF

    Building Details

    Year Built/Renovated
    1914/1994
    Buildings
    1
    Stories
    4

    We can help!

    Listing Contact
    Alex Epstein
    Alex Epstein

    Listing Agency: OMNE Partners Omaha Listing Agent: Alex Epstein

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This iconic four-story, 26,144 square foot building, located in Omaha's vibrant Old Market at 406 S 12th St, presents a unique owner/user or redevelopment opportunity. Built in 1914 and renovated in 1994, this Class B property boasts a prime location within a thriving historic district, offering easy access to top restaurants, entertainment, and nightlife. The building features attractive natural light, open floor plans, atrium stairs, and high ceilings (10'-13', 12' slab to slab). With a 0.133-acre lot and CBD zoning, the property offers significant potential. The current layout includes a lower level of 8,720 square feet and three upper floors, each approximately 5,808 square feet, adaptable for retail on the main level and office space above. The sturdy concrete floor and column structure allows for potential expansion, with the possibility of adding two additional floors. This is an exceptional chance to acquire a piece of Omaha history and capitalize on its considerable development potential. The asking price is $4,495,000 ($171.93/sq ft). APN: 0314150006.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    C&P Bathroom Remodeling ... Hardware & Home Improvement Facilities Cost Management Architect Rambo Associates Inc Architect

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -95.931896396974
    Latitude
    41.256223906998

    Nearby Similar for Sale

    • $385,000
      0.16 Acres

      Omaha Multi-Family Residential Property

      Residential multi-family property for sale in Omaha, Nebraska.
      1738 South 32Nd Ave, Omaha, NE 68105
      View Details
    • New
      $624,900

      Omaha Brick Duplex For Sale

      Stunning brick duplex ideal for rentals or multi-generational living.
      5114 Dodge St, Omaha, NE 68132
      View Details
    • New
      $450,000

      Omaha Multi-Family Investment Property

      Five-unit property generating $4,550 monthly gross income in Omaha.
      1416 O St, Omaha, NE 68107
      View Details
    • New
      $300,000

      Remodeled Duplex with Income Potential

      Two remodeled homes on one lot with income potential.
      3022 S 20Th St, Omaha, NE 68108
      View Details
    • $485,000

      Turnkey Four-Unit Investment Property

      Fully leased, updated four-unit property near Omaha's streetcar corridor.
      3155 Jackson St, Omaha, NE 68105
      View Details
    • $575,000

      Dundee Duplex with Historic Charm

      South-facing Dundee duplex blending historic character with modern charm.
      5012 Cass St, Omaha, NE 68132
      View Details
    • New
      $925,000
      0.47 Acres

      South Omaha Multifamily Investment Opportunity

      Multifamily property with conversion and income potential in South Omaha.
      2416 S 16Th St, Omaha, NE 68108
      View Details
    • $856,000

      Historic Dundee Eight-Plex

      All-brick 8-unit apartment building in historic Dundee.
      4801 Underwood Ave, Omaha, NE 68132
      View Details
    • $450,000

      Renovated Duplex Near Memorial Park

      Turnkey duplex with modern updates in a desirable Omaha location.
      5610 Seward St, Omaha, NE 68104
      View Details
    • $325,000

      Omaha Multi-Unit Investment Opportunity

      Four-unit property with short-term and long-term rental income potential.
      2526 S 10Th St, Omaha, NE 68108
      View Details
    • $850,000

      Omaha Multi-Family Investment Opportunity

      All-brick 9-plex in Westside School District, near amenities.
      3468 S 82Nd St, Omaha, NE 68124
      View Details
    • $400,000

      Omaha Triplex with Income Potential

      Triplex near amenities with long-term tenants and Airbnb income.
      3206 S 23Rd St, Omaha, NE 68108
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Historic Office & Retail Investment
    Where is this office property / space located?
    The property is located at 406 12Th St Omaha, NE.
    What is the asking price?
    The asking price for this property is $4,495,000.
    What are key features of this property?
    This property features: Property Type: Office and retail building in Omaha's Old Market.; Total Building Size: 26,144 square feet.; Lot Size: 0.133 acres.
    (402) 505-7720 Call to check price and availability
    Request Owner's contact information
    406 12Th St Omaha, NE 68102
    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.
    406 12Th St
    Omaha, NE 68102
    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
    406 12Th St Omaha, NE 68102
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alex Epstein
    Alex Epstein
    Real Estate License ID: 20130505
    (402) 505-7720 (402) 697-8899
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!