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    1904 Farnam St Omaha, NE 68102

    • Office buildings
    • 51,618 SF
    • 0.21 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimation
    $2,100,000
    Last Sale
    Jan 04, 2021
    $2,200,000
    Location Intelligence
    Property ID
    US57-0140792
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Gross John J / Lawyer
    • Fogarty Lund & Gross / Attorney
    • Paralegal Power Co. / Paralegal Services Provider
    • Josco Sales / Employment Agency
    • O!Language / School

    Property Details for 1904 Farnam St

    Year built
    1927
    Lot size
    0.21 lot acres
    Property size
    51,618 SF
    Property type
    Office buildings
    APN
    310900003
    APU
    310900003

    Description

    The Service Life Building, a stunning example of Art Deco architecture, presents a unique opportunity in Omaha's vibrant downtown. Originally constructed in 1927 by Kiewit Brothers and designed by John Latenser and Sons, this historic landmark, designated in 1984, offers 51,618 square feet of space across seven stories. Currently undergoing a $25 million renovation (estimated completion September 2025), the building will feature 54 residential units and 5,000 square feet of commercial space, including two office suites and a new breakfast/lunch restaurant. The building's prime location at 1904 Farnam St, Omaha, NE 68102, within the CBD-ACI-1(PL)-*LL zoning district, provides excellent visibility and accessibility. Flexible space options are available, with a minimum divisible unit of 1,198 square feet and a maximum contiguous space of 3,348 square feet. Currently, 5,994 square feet of space is vacant. The 0.2-acre lot offers a blend of historic charm and modern amenities, making it ideal for a variety of businesses. This is a rare chance to secure space in a meticulously restored building with a rich history and a bright future. The building's history as a prominent office space, combined with the upcoming residential and commercial additions, creates a dynamic and attractive environment for tenants.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,015,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,160,000
      6.5%
      $2,495,000
      7%
      $2,300,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,480,000
      Geo Method
      $1,955,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,185,000
      Retail
      $1,845,000
      Mixed-Use
      $1,805,000
      Hospitality
      $1,990,000
      Educational
      $1,790,000
      Residential Income
      $2,270,000
      Energy
      $1,895,000
      Income-Based Land
      $1,820,000
      Food Service
      $2,270,000

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -95.9415
    Latitude
    41.2579
    CBSA code
    36540
    CBSA name
    OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

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      OFFICE BUILDING • 30,139 SF
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      View Details

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    1904 Farnam St
    Omaha, NE 68102
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    Realmo Value Estimation

    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.

    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.

    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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