72nd St And Capehart Rd Papillion, NE 68046

Property Details for 72nd St And Capehart Rd

Property size

800,000 SF

Property type

Retail properties

Property subtype

Office Properties & Spaces

Description

This exceptional investment opportunity presents 12 commercial pads within the Oak Leaf Development, the largest mixed-use project in Sarpy County, Nebraska. Located at the high-traffic intersection of South 72nd Street and Capehart Road in Papillion (zip code 68046), this development boasts a prime location with approximately 9,500 vehicles per day passing by. The pads, ranging in size from 43,159 to 220,857 square feet, are zoned for mixed-use development, offering flexibility for a variety of commercial uses including banks, convenience stores, and quick-service restaurants. The property is part of a larger master-planned community encompassing approximately 230 acres, including approximately 500 single-family homes, 611 multi-family units, and a new elementary school. This vibrant community offers significant synergy and a strong customer base for commercial tenants. The development's 800,000 square feet of commercial space is anticipated to be completed between Fall 2024 and Spring 2025. The Sarpy East retail submarket shows strong performance, with positive absorption and rent increases of 4.8% in the past year, reaching approximately $17.60 per square foot. The total retail inventory in the area is 7.5 million square feet, encompassing various asset classes. This development offers unparalleled visibility and access, situated just five minutes from Offutt Air Force Base and surrounded by established national retailers such as Lane Bryant, LOFT, Old Navy, Victoria's Secret, and many more. The asking price for this exceptional opportunity is $16 million.

Location Insight

City

Papillion

County

Sarpy

State

Nebraska

Longitude

-96.0237

Latitude

41.1176