1202 Howard St Omaha, NE 68102

Property Details for 1202 Howard St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 lot acres

Property size

23,307 SF

Zone code

CBD

Property type

Commercial real estate

APN

314250004

APU

314250004

Description

This exceptional investment opportunity presents a meticulously renovated, mixed-use building situated in Omaha's vibrant Old Market district. The property, known as the Gahm Block, is listed on the National Register of Historic Places, preserving its historical charm while offering modern amenities. The building comprises fifteen upscale apartments, ranging in size from 721 to 1,624 square feet, spread across five stories. Recent renovations have transformed the upper four floors into these desirable residential units. The building also features a ground-level retail space, adding to its versatility and income potential. With a total square footage of 23,307, the property boasts a strong pro-forma NOI of $381,022 and a pro-forma cap rate of 5.44%. The asking price is $7,000,000, translating to a price per unit of $466,667 and a price per square foot of $300.34. The 0.11-acre lot is located at 1202 Howard Street, Omaha, Nebraska, 68102 (APN: 0314250002). This prime location within the historic Old Market offers exceptional visibility and access to a thriving urban environment. The building's strong financial performance, combined with its unique historical character and desirable location, makes it an attractive investment for discerning buyers seeking a high-return property in a sought-after area. The building's Class C designation reflects its historical character and the recent renovations.

Location Insight

City

Omaha

County

Douglas

State

Nebraska

Longitude

-95.9322

Latitude

41.2557

CBSA code

36540

CBSA name

OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments