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    111th St And Blondo St Omaha, NE 68164
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    111th St And Blondo St, Omaha, NE 68164

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

    Current Use by Public Records

    • Land

    Property Details for 111th St And Blondo St

    Lot size
    1.66 lot acres
    Property type
    Land

    Description

    This exceptional commercial land investment opportunity encompasses three lots totaling between 1.66 and 5.33 acres, strategically located at the intersection of 111th Street and Blondo Street in Omaha, Nebraska, zip code 68164. The property is zoned Mixed-Use (MU), incorporating site development regulations consistent with Community Commercial (CC) zoning. This versatile zoning allows for a wide range of development possibilities, making it ideal for various commercial ventures. The asking price for the entire parcel ranges from $674,307, with a land value of $9 to $11.5 per square foot. The location offers unparalleled accessibility, situated just two minutes from Interstate 680 and three minutes from Dodge Street, ensuring high visibility and convenient access for businesses and customers. The property's potential is further enhanced by the planned construction of a HyVee Fast & Fresh store at the northeast corner of 111th and Blondo Streets, promising increased foot traffic and commercial activity in the immediate vicinity. The seller is open to build-to-suit options and developing flex buildings for lease on the lots, presenting a unique opportunity for investors seeking a tailored approach to their commercial real estate portfolio. This prime location and flexible zoning make this an exceptional investment opportunity for developers and businesses seeking a strategic foothold in a thriving Omaha market.

    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
    -96.0857
    Latitude
    41.2781

    Comparable in this City

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      1.71 Acres

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      3205 120Th St, Omaha, NE 68164
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      2.46 Acres

      132nd & Ft St Omaha

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      1.46 Acres

      132Nd St

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      0 132Nd St, Omaha, NE 68164
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      25130 Hwy

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      0.75 Acres

      120th St & Ft St Omaha

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    • Value Estimation by Request
      1,920 SF

      11020 Saratoga Plz

      COMMERCIAL (GENERAL)
      11020 Saratoga Plz, Omaha, NE 68164-2130
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    Similar Nearby for Sale

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      1.89 AC Land For Sale

      1.89 AC lot available for purchase.
      11010 Blondo St, Omaha, NE 68164
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      Land For Sale

      Land available for sale.
      132Nd St, Omaha, NE 68164
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      Commercial Lots at 110th & Blondo

      Commercial lots available for sale at 110th & Blondo.
      111th St And Blondo St, Omaha, NE 68164
      View Details
    • $1,475,000
      1 SF

      Commercial Land on Blondo Street

      Commercial land available on Blondo Street with mixed-use zoning.
      11010 Blondo St, Omaha, NE 68164
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      Commercial Land For Sale

      Commercial land suitable for flex or retail development.
      11001 Burdette St, Omaha, NE 68164
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      Commercial Flex/Retail Land For Sale

      Commercial land for sale, zoned Mixed-Use, near HyVee.
      110 110Th St, Omaha, NE 68164
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    Similar Nearby for Lease

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      Available Commercial Space for Lease

      3,600 SF commercial space available for lease.
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      Retail Space Available For Rent

      Retail space available, approximately 1,794 square feet.
      11002 Emmet St, Omaha, NE 68164
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    • $13 SF/Yr
      23,721 SF

      Omaha Office Space Available

      Office space available for lease in Omaha, Nebraska.
      2909 North 118Th St, Omaha, NE 68164
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      3,600 SF

      Retail Space Available For Rent

      Retail space available for rent starting April 1st, 2024.
      3310-3346 N 108Th St, Omaha, NE 68164
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      Two-Story Office Building for Lease

      Two-story office building with remodeled amenities and signage opportunities.
      11340 Blondo St, Omaha, NE 68164
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    Omaha, NE 68164
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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.

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