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    370 Nec 138 & Hwy Papillion, NE 68138
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    370 Nec 138 & Hwy, Papillion, NE 68138

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    • Land
    • 5.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 370 Nec 138 & Hwy

    Lot size
    5.00 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 5-15.33 acre commercial/industrial land parcel, located at the Northeast corner of 138th and Highway 370 in Papillion, Nebraska (zip code 68138), presents a unique investment opportunity. Zoned LI, this property boasts a highly desirable location within the sought-after Sarpy West submarket. The asking price is $3,600,000, translating to $8 per square foot. Situated on Highway 370, the site benefits from a lighted intersection with dedicated right and left-turn lanes, ensuring excellent visibility and accessibility. Its proximity to a major Amazon Regional Distribution Center further enhances its strategic value. The location offers direct access to Highway 370, with convenient access to I-80 and Highway 50 within half a mile. Site preparation is complete, including grading and storm water retention, making it ready for immediate development. This prime location is ideal for a variety of uses, including corporate offices, warehouse facilities, or even a car or truck dealership. The property's strategic location and infrastructure make it an exceptional investment opportunity in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Papillion
    County
    Sarpy
    State
    Nebraska
    Longitude
    -96.1291
    Latitude
    41.1475

    Comparable in this City

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      2.16 Acres

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      370 & I-80 Hwy, Papillion, NE 68138
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      1.00 Acre

      370 & I-80 Hwy

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      370 & I-80 Hwy, Papillion, NE 68138
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      0.36 Acres

      150 150Th St

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      150 150Th St, Omaha, NE 68138
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      5.14 Acres

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      14607 Chandler Rd, Omaha, NE 68138
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      7.12 Acres

      1-3 Southport

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      74.25 Acres

      132nd Highway 370

      Land
      132nd Highway 370, Omaha, NE 68138
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    Similar Nearby for Sale

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      Land Parcels for Sale

      Land parcels available in a desirable location.
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      32,468 SF

      Industrial Building Near Highway 370

      Class A industrial building with additional ground near Hwy 370.
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      32,840 SF

      Omaha Warehouse Space For Sale

      32,840 square foot warehouse available in Omaha, Nebraska.
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      169,000 SF

      Industrial Property with Dock Loading

      Industrial property featuring dock loading and front park/rear load.
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      25,348 SF

      Freestanding Industrial Building For Sale

      25,348 SF industrial building with office space and docks.
      15541 Cooper St, Papillion, NE 68138
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    Similar Nearby for Lease

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      Light Industrial Space Near I-80

      Light industrial space for rent with secure fenced yard.
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      Highway 370 Corridor Flex Space

      3,580 SF flex space with office and drive-in door.
      14808 Shepard St, Omaha, NE 68138
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      Omaha Industrial Space Available

      Industrial space available for lease in Omaha, Nebraska.
      14607 Chandler Rd, Omaha, NE 68138
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      New Industrial Flex Space Available

      New industrial flex building under construction, ready for tenant finishes.
      11801 Olive St, La Vista, NE 68138
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    • $9 SF/Yr

      Industrial Space Available For Lease

      12,630 SF industrial space available for lease.
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    Papillion, NE 68138
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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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