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    1020 74Th Plz Omaha, NE 68114
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    1020 74Th Plz, Omaha, NE 68114

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    • Retail properties & Spaces
    • 26,684 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1020 74Th Plz

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    74 Pacific Plaza offers exceptional retail opportunities in a thriving Central Omaha location. This single-story, 26,684 square foot building boasts a prime position at a heavily trafficked intersection (72nd & Pacific), experiencing over 75,000 daily visitors – one of the top four busiest intersections in the metro area. The property is a well-established neighborhood retail center, currently housing a diverse mix of tenants, including local and national businesses. Two spaces are immediately available, ranging from a minimum of 1,200 square feet to a maximum contiguous space of 2,203 square feet, making it ideal for a variety of retail service businesses. The center benefits from high visibility due to pylon signage, and the spaces are move-in ready. This location provides easy access to all parts of Omaha, ensuring high customer traffic and convenient access for employees and customers alike. The property's historically low vacancy rate speaks to its desirability and strong tenant base. This is an excellent opportunity to establish or expand your business in a high-demand, high-traffic retail environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.0282
    Latitude
    41.2495

    Comparable in this City

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    • Value Estimation
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      7660 Dodge St

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    • Value Estimation
      $1,080,000
      8,424 SF

      1901 72nd St

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $1,335,000
      11,489 SF

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      RETAIL STORES (PERSONAL SERVICES)
      535 98th St, Omaha, NE 68114-2344
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    • Value Estimation
      $4,200,000
      5,040 SF

      1819 72nd St

      RETAIL STORES (PERSONAL SERVICES)
      1819 72nd St, Omaha, NE 68114-1949
      View Details
    • Value Estimation
      $4,790,000
      50,536 SF

      10730 Pacific St

      RETAIL STORES (PERSONAL SERVICES)
      10730 Pacific St, Omaha, NE 68114-4799
      View Details

    Similar Nearby for Sale

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      6,700 SF

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      6,700 SF

      Retail Space on Dodge Road

      Retail space with high visibility and ample parking.
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      Prime Development Site in Omaha

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    Similar Nearby for Lease

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      3,303 SF

      Retail Space on Dodge Street

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      Prime Retail/Office Space Available

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      3,000 SF

      Retail Space in Busy Center

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      13,232 SF

      Retail Space Available For Lease

      Retail space available for lease, totaling 13,232 square feet.
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      Restaurant Space in Countryside Village

      Restaurant space with complete kitchen infrastructure in established shopping center.
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    1020 74Th Plz
    Omaha, NE 68114
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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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