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

    1502 S Washington St Papillion, NE 68046

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Medical office space near CHI Midland’s Hospital for lease.

    Type:Office
    Added:
    Nov 15, 2023
    Days on Market:
    881
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 1502 S Washington St

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 1502 S Washington St Contact us

    Suite 201 $20 /Mo

    Size
    3,562 SF
    Type
    Office
    Contact us

    Suite 101-102 $17 /Mo

    Size
    7,200 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Andrew Bennett

    Listing agent Andrew Bennett License #NE 20120634

    Listing office Cushman & Wakefield | The Lund Company

    Listing date Nov 15, 2023

    Source Crexi

    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 Cushman & Wakefield | The Lund Company

    Overview

    Medical Office Space Available

    This two-story medical office building is located in close proximity to CHI Midland’s Hospital. The building features a brand new common area remodel on the first floor and new digital monument signage. It is professionally managed and offers medical office spaces with varying sizes to accommodate a variety of users. The property includes park-at-your-door entrances and synergy with existing oral surgeon and family medicine tenants. A market tenant improvement package is available for medical tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Similar Places Nearby

    • Walnut Creek Veterinary Clinic — 11336 S 96th St #106, Papillion, NE 68046

    Location Insight

    • Map
    • Local Demand
    City
    Papillion
    County
    Sarpy
    State
    Nebraska
    Longitude
    -96.0434843
    Latitude
    41.1372224

    Nearby Similar for Lease

    • $18/mo

      Retail Space Available For Rent

      Retail space available for lease in Papillion, Nebraska.
      1401 South Washington Street, Papillion, NE, 68046
      View Details
    • $11/mo

      Highway 370 Industrial/Flex Building

      Industrial/flex building for lease with highway visibility and accessibility.
      13770 Highway 370, Papillion, NE 68138
      View Details
    • $18/mo

      Retail Space in Papillion, NE

      Retail space available for lease in Papillion, Nebraska.
      754 Gold Coast Dr, Papillion, NE
      View Details
    • $25/mo

      Retail Space in Papillion, NE

      Retail space available for lease in Papillion, Nebraska.
      9831 S 96th St, Papillion, NE
      View Details
    • $7/mo

      New Industrial Building in Papillion

      300,000 sq ft industrial space available for lease.
      ±15644 Sunburst Drive, Papillion, NE, 68028
      View Details
    • $24/mo

      Retail Space with Signage Opportunity

      Endcap retail space with excellent visibility and front door parking.
      9910 S 71st Ave, Papillion, NE
      View Details
    • $18/mo

      Retail Space in Papillion, NE

      Retail space available for lease in Papillion, Nebraska.
      760 Gold Coast Dr, Papillion, NE
      View Details
    • Contact for pricing

      Turnkey Church Space in Papillion

      Move-in ready church space with sanctuary and children's rooms.
      1240 N Washington St, Papillion, NE 68046
      View Details
    • Contact for pricing

      Retail Space in Settler’s Creek

      Retail space available for lease in Settler’s Creek.
      9614 S 71st Plaza, Papillion, NE 68133
      View Details
    • Contact for pricing

      Retail Space in Papillion, Nebraska

      6,295 SF retail space available for lease in Papillion.
      8810 S 71st Plz, Papillion, NE
      View Details
    • Contact for pricing

      Retail Space in Papillion

      Retail space available for lease in Papillion, Nebraska.
      7305 Towne Ctr Pkwy, Papillion, NE
      View Details
    • Contact for pricing

      Retail Space in Papillion, NE

      6,350 SF retail space available for lease.
      7403 Towne Ctr Pkwy, Papillion, NE
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical office space near CHI Midland’s Hospital for lease.
    Where is this medical office space located?
    The property is located at 1502 S Washington St Papillion, NE.
    What are key features of this property?
    This property features: Excellent proximity to CHI Midland’s Hospital; Medical office space with varying sizes to accommodate; Market tenant improvement package for medical tenants
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Andrew Bennett
    Real Estate License ID: NE 20120634
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!