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    370 & I-80 Hwy Papillion, NE 68138

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    370 & I-80 Hwy Papillion, NE 68138

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

    Current Use by Public Records

    • Land

    Property Details for 370 & I-80 Hwy

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

    Description

    This exceptional offering presents a diverse selection of commercial and industrial land parcels within the Steel Ridge South development, strategically located in Papillion, Nebraska, at the intersection of Highway 370 and I-80 in Sarpy County (zip code 68138). The available land ranges from approximately 2.16 acres to a substantial 41 acres, offering flexibility for various development needs. Several parcels are available for purchase, with lot sizes and pricing varying. Specifically, Replat 1, Lot 2 offers 15.51 acres at $7.75 per square foot

    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
    -96.1341
    Latitude
    41.1474

    Comparable in this City

    • Value Estimation by Request
      5.00 Acres

      370 Nec 138 & Hwy

      Land • 5.00 Acres
      370 Nec 138 & Hwy, Papillion, NE 68138
      View Details
    • Value Estimation by Request
      1.00 Acre

      370 & I-80 Hwy

      Land • 1.00 Acre
      370 & I-80 Hwy, Papillion, NE 68138
      View Details
    • Value Estimation by Request
      0.36 Acres

      150 150Th St

      Land • 0.36 Acres
      150 150Th St, Omaha, NE 68138
      View Details
    • Value Estimation by Request
      5.14 Acres

      14607 Chandler Rd

      Land • 5.14 Acres
      14607 Chandler Rd, Omaha, NE 68138
      View Details
    • Value Estimation by Request
      7.12 Acres

      1-3 Southport

      Land • 7.12 Acres
      1-3 Southport, Omaha, NE 68138
      View Details
    • Value Estimation by Request
      74.25 Acres

      132nd Highway 370

      Land • 74.25 Acres
      132nd Highway 370, Omaha, NE 68138
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Available For Sale

      Land available for sale at S 132nd & Hwy 370.
      132nd S Highway 370, Omaha, NE 68138
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    • Contact for pricing

      Land Parcels for Sale

      Land parcels available in a desirable location.
      14607 Chandler Rd, Omaha, NE 68138
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    • Contact for pricing
      32,468 SF

      Industrial Building Near Highway 370

      Class A industrial building with additional ground near Hwy 370.
      14616 Shepard St, Papillion, NE 68138
      View Details
    • $6,888,000
      32,840 SF

      Omaha Warehouse Space For Sale

      32,840 square foot warehouse available in Omaha, Nebraska.
      8843 S 137Th Cir, Omaha, NE 68138
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      58,404 SF

      Omaha Warehouse For Sale

      58,404 square foot warehouse available for purchase.
      14901 Chandler Rd, Omaha, NE 68138
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    • Contact for pricing

      Omaha Industrial Facility with Expansion

      75,000 SF industrial facility expandable by 18,000 SF.
      10015 South 136Th St, Omaha, NE 68138
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      65,232 SF

      La Vista Commercial Property Lease

      Commercial property for lease with build-to-suit opportunity.
      14575 Chandler Rd, La Vista, NE 68138
      View Details
    • Contact for pricing

      Light Industrial Space Near I-80

      Light industrial space for rent with secure fenced yard.
      13239 Portal Dr, Omaha, NE 68138
      View Details
    • Contact for pricing

      Highway 370 Corridor Flex Space

      3,580 SF flex space with office and drive-in door.
      14808 Shepard St, Omaha, NE 68138
      View Details
    • Contact for pricing

      Omaha Industrial Space Available

      Industrial space available for lease in Omaha, Nebraska.
      14607 Chandler Rd, Omaha, NE 68138
      View Details
    • Contact for pricing

      New Industrial Flex Space Available

      New industrial flex building under construction, ready for tenant finishes.
      11801 Olive St, La Vista, NE 68138
      View Details
    • $7 SF/Yr
      25,000 SF

      Industrial Space with Interstate Access

      25,000 SF industrial space featuring interstate access and signage.
      13593 Giles Rd, Omaha, NE 68138
      View Details
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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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