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    3509 Harrison St Bellevue, NE 68147
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    3509 Harrison St Bellevue, NE 68147

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    • Retail properties & Spaces
    • 60,177 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tarot Card Reading Bellevue / Spiritual Center
    • Dr. George Otto / Dental Office

    Property Details for 3509 Harrison St

    Year built
    1963
    Property size
    60,177 SF
    Property type
    Retail properties & Spaces

    Description

    Harrison Square, located at 3509 Harrison Street in Bellevue, Nebraska, presents a prime retail opportunity. This single-story, 60,177 square foot center, built in 1963, offers a 6,500 square foot vacant space, the minimum and maximum contiguous space available. The property sits on a 3.96-acre lot and is zoned CC in Sarpy County. The building boasts excellent visibility at the southeast corner of 36th and Harrison Street. Parking is ample, with a 4:1000 ratio. This established center enjoys strong tenancy, with current occupants including Dollar General, New Life Thrift, China Taste, and a Tobacco Shop. The available space is ideal for a variety of retail uses and provides immediate access to a well-established customer base. The property's location in Bellevue, NE, zip code 68147, offers convenient access to major transportation routes and a thriving community. This is a rare opportunity to secure a well-positioned retail space in a busy and established shopping center. The 6,500 square foot space is ready for immediate occupancy. Contact us today to learn more about this exceptional retail property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    Sarpy
    State
    Nebraska
    Longitude
    -95.9656
    Latitude
    41.1905

    Comparable in this City

    • Value Estimation by Request
      19,500 SF

      7511 36Th St

      Neighborhood centers • 19,500 SF
      7511 36Th St, Bellevue, NE 68147
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    • Value Estimation by Request
      3,645 SF

      6912 36th St

      AUTO REPAIR, GARAGE • 3,645 SF
      6912 36th St, Bellevue, NE 68147-1232
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    • Value Estimation by Request
      2,180 SF

      7702 36th St

      SHOPPING CENTER, STRIP CENTER • 2,180 SF
      7702 36th St, Bellevue, NE 68147-1957
      View Details
    • Value Estimation by Request
      1,288 SF

      2212 Chandler W Rd

      AUTO REPAIR, GARAGE • 1,288 SF
      2212 Chandler W Rd, Bellevue, NE 68147-2184
      View Details
    • Value Estimation
      $790,000
      6,500 SF

      3505 Harrison St

      AUTO REPAIR, GARAGE • 6,500 SF
      3505 Harrison St, Omaha, NE 68147-1252
      View Details
    • Value Estimation by Request
      3,160 SF

      7015 Railroad Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,160 SF
      7015 Railroad Ave, Bellevue, NE 68147-1613
      View Details

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      2.54 acre corner lot with high visibility.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space with High Visibility

      Retail space available in a well-located commercial area.
      3509 Harrison St, Bellevue, NE 68147
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    • $8 SF/Yr
      2,660 SF

      Freestanding Office/Retail Building For Rent

      Freestanding office/retail building with on-site parking and natural light.
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      1,500 SF

      Retail Space with Front Parking

      1,500 SF retail space with front door parking.
      7511 S 36Th St, Bellevue, NE 68147
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    • Contact for pricing
      6,500 SF

      Bellevue Retail Space Available

      Retail space available for lease in Bellevue, Nebraska.
      3509-3527 Harrison St, Bellevue, NE 68147
      View Details
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    Bellevue, NE 68147
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    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
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