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

    SEC 204th & West Center Rd Omaha, NE 68022

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

    Land for retail, restaurant, office, medical, and fitness users.

    Type:Land, Mixed Use
    Lot size:
    4.64 Acres
    Added:
    Feb 26, 2021
    Days on Market:
    1873
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for SEC 204th & West Center Rd

    General Information

    Standard status
    Active
    Lot size
    4.64 Acres
    Property subtype
    Land, Mixed Use

    We can help!

    Listing Contact
    Mitch Hohlen

    Listing agent Mitch Hohlen License #Nebraska

    Listing office Woodsonia Real Estate Group

    Listing date Feb 26, 2021

    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 Woodsonia Real Estate Group

    Overview

    West Center Village Development Land

    The West Center Village Development, situated on the southeast corner of 204th & West Center Street, provides direct visibility to over 50,000 vehicles per day. The location benefits from over 700 newly constructed homes, as well as multifamily residents within the development (Edge 204 - 182 Luxury Multifamily units) and the surrounding area. The development is suitable for retailers, restaurants, office, medical, and fitness users. The developer is open to flexible deal structures, including build-to-suit, land lease, reverse build-to-suit, and sale. Lot 3 comprises 1.223 acres, while Lot 4 encompasses 3.42 acres. The lots can be combined.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Omaha
    County
    Sarpy
    State
    Nebraska
    Longitude
    -96.0150434
    Latitude
    41.2382476

    Nearby Similar for Sale

    • $469,000

      Omaha Multi-Family Investment Opportunity

      Great investment property with income potential near shopping and schools.
      10804 Borman Avenue, Omaha, NE 68137
      View Details
    • $375,000

      Refreshed Duplex with 5 Bedrooms

      Spacious duplex with new paint, carpet, and updated fixtures.
      5621 Charles Street, Omaha, NE 68132
      View Details
    • $399,000

      Omaha Multi-Unit Investment Opportunity

      Well-maintained five-unit property in the Historic Field Club neighborhood.
      1618 S 32 Avenue, Omaha, NE 68105-9999
      View Details
    • $650,000

      Meticulously Maintained Townhome Building

      Four units in high-demand rental location with upside potential.
      2913 S 134th Avenue, Omaha, NE 68144
      View Details
    • $235,000

      Corner Lot Near Crossroads Development

      Corner lot in Omaha near UNO and new development.
      201 S 71st Street, Omaha, NE 68132
      View Details
    • $650,000

      Meticulously Maintained Townhome Building

      Four units in high-demand rental location with upside potential.
      2821 S 134th Avenue, Omaha, NE 68144
      View Details
    • $369,000

      Omaha Duplex with Income Potential

      Updated duplex near Hanscom Park, ideal for owner-occupancy or rental.
      3104 S 32 Avenue, Omaha, NE 68105
      View Details
    • $825,000

      Omaha Brick Duplex Opportunity

      Stunning duplex ideal for rentals or multi-generational living.
      5114 Dodge Street, Omaha, NE 68132
      View Details
    • $400,000

      Omaha Triplex with Income Potential

      Triplex near amenities with long-term tenants and Airbnb income.
      3206 S 23 Street, Omaha, NE 68108
      View Details
    • $449,900

      Omaha Multi-Family Investment Opportunity

      Multi-family property in desirable location near schools and restaurants.
      4125-4131 Valley Street, Omaha, NE 68105
      View Details
    • $480,000

      Leased A-Frame Duplex Opportunity

      Fully leased duplex near Western Hills Elementary, Omaha.
      6527 & 6529 Lafayette Avenue, Omaha, NE 68132
      View Details
    • $435,000

      Omaha Multi-Unit Investment Property

      Five-unit property generating $4,550 monthly gross income in Omaha.
      1416 O Street, Omaha, NE 68107
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land for retail, restaurant, office, medical, and fitness users.
    Where is this commercial land located?
    The property is located at SEC 204th & West Center Rd Omaha, NE.
    What are key features of this property?
    This property features: Direct visibility to 50,000+ vehicles per day.; Located in the West Center Village Development at 204th & West Center Street.; Benefit from 700+ newly constructed homes in the area.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mitch Hohlen
    Real Estate License ID: Nebraska
    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!