Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    204th And George B Lk Pkwy Omaha, NE 68022
    Back to Search
    Property profile & analytics

    204th And George B Lk Pkwy, Omaha, NE 68022

    View on Map
    • Land
    • 1.12 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 204th And George B Lk Pkwy

    Lot size
    1.12 lot acres
    Property type
    Land

    Description

    This exceptional 1.118-acre commercial land parcel presents a unique investment opportunity in the thriving Coventry development in Elkhorn, Nebraska. Located at the intersection of S 204th and George B Lake Parkway, this property boasts a highly desirable MU (Mixed-Use) zoning designation, offering flexibility for a variety of commercial ventures. The site is strategically positioned within a 120-acre mixed-use development, enjoying proximity to established businesses such as the Hy-Vee Fast & Fresh grocery store and the ACI Worldwide headquarters and campus. The area also features a blend of residential, office, and retail establishments, including Children's Hospital and Medical Center. With a daily traffic count of 31,950 vehicles, this location ensures high visibility and accessibility. The lot encompasses 48,740 square feet and is priced at $20 per square foot, totaling $974,800. Its proximity to Millard Horizon Middle School and New Gretna High School adds to its appeal. This is an exceptional opportunity to establish a presence in a rapidly growing and well-established community. The property's strategic location and mixed-use zoning make it ideal for a variety of commercial uses, including, but not limited to, fast-food restaurants.

    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
    -96.2359
    Latitude
    41.1983

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      204Th St

      Land
      0 204Th St, Omaha, NE 68022
      View Details
    • Value Estimation by Request
      5.01 Acres

      204 & Veterans Dr

      Land
      0 204 & Veterans Dr, Omaha, NE 68022
      View Details
    • Value Estimation by Request
      17.54 Acres

      21415 Q Rd

      Land
      21415 Q Rd, Omaha, NE 68022
      View Details
    • Value Estimation by Request
      69.00 Acres

      204th & Harrison Nec

      Land
      204th & Harrison Nec, Omaha, NE 68022
      View Details
    • Value Estimation by Request

      192nd Dodge Rd

      Land
      192nd Dodge Rd, Omaha, NE 68022
      View Details
    • Value Estimation by Request
      2.00 Acres

      4825 204Th St

      Land
      4825 204Th St, Elkhorn, NE 68022
      View Details

    Similar Nearby for Sale

    • $110,000

      Residential Land in Elkhorn, NE

      Land available for building a dream home in Elkhorn.
      21161 E St, Elkhorn, NE 68022
      View Details
    • $115,000
      0.35 Acres

      Residential Land in Elkhorn, NE

      Residential land available in Elkhorn, Nebraska.
      20510 Hartman Ave, Elkhorn, NE 68022
      View Details
    • Contact for pricing

      Land Near Coventry Development

      Land available across from Coventry mixed-use development.
      204th & Harrison Nec, Elkhorn, NE 68022
      View Details
    • Contact for pricing

      Land Available For Custom Builders

      Land available for custom builders at Hartman Avenue, Elkhorn.
      20510 Hartman Ave, Elkhorn, NE 68022
      View Details
    • Contact for pricing

      Blue Sage Creek Builder Lot

      Builder attached lot available in Blue Sage Creek.
      3907 S 211Th St, Elkhorn, NE 68022
      View Details
    • Contact for pricing

      Land For Lease Elkhorn

      Land available for lease in Elkhorn, Nebraska.
      20309 Roberts St, Elkhorn, NE 68022
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Space For Lease

      Available commercial space for lease at $33.00 PSF, NNN.
      W Dodge Rd, Omaha, NE 68022
      View Details
    • Contact for pricing

      Land in Growing Omaha Corridor

      Land available in high-growth area with excellent visibility.
      204Th St, Omaha, NE 68022
      View Details
    • Contact for pricing

      Elkhorn Land for Medical Office

      Land available for build-to-suit medical office in Elkhorn.
      800 N 192Nd St, Elkhorn, NE 68022
      View Details
    • Contact for pricing

      Land with 204th Street Frontage

      Land for lease with high visibility on 204th Street.
      1717 N 205Th St, Omaha, NE 68022
      View Details
    • $22 SF/Yr
      40,000 SF

      West Dodge Hills Office Park

      Office space available for lease in West Dodge Hills.
      18135 Burke St, Omaha, NE 68022
      View Details
    • Contact for pricing
      1,192 SF

      Elkhorn Professional Building Office Suite

      Office suite for rent in Elkhorn Professional Building.
      1908 N 203Rd St, Elkhorn, NE 68022
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    204th And George B Lk Pkwy
    Omaha, NE 68022
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    204th And George B Lk Pkwy, Omaha, NE, 68022
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!