774 Olson DrPapillion, NE 68046

Property Details for 774 Olson Dr

Year built

2014

Lot size

1.65 AC

Property size (Sq ft)

7,439 SF

Property type

Office properties

Property subtype

Office buildings

APN

11594876

APU

11594876

Description

This exceptional 9,237 square foot retail property, located at 774 Olson Drive in Papillion, Nebraska, presents a compelling investment opportunity. Built in 2014, this single-story building sits on a 0.82-acre lot and boasts a prime location just off Highway 370, between 72nd and 84th streets, a high-traffic area with approximately 43,000 vehicles per day. Currently, the property is 76% occupied by Berkshire Hathaway Home Services, with a lease term of approximately seven years remaining. This leaves 2,244 square feet available for lease to another tenant or for owner-occupancy. The asking price is $2,500,000, representing a price per square foot of $270.65. The current Net Operating Income (NOI) is $142,554, yielding a 5.70% cap rate. However, a pro-forma NOI of $212,533 projects a significantly higher 8.50% cap rate, highlighting the value-add potential. The property features a drive-thru and prominent pylon signage, ensuring high visibility. Its adjacency to Shadow Lake Towne Center, a major shopping destination with over 70 retailers, further enhances its desirability. The property is zoned for retail and office use, offering flexibility for various business types. This is a rare opportunity to acquire a well-located, partially leased retail building with significant upside potential in a thriving Nebraska market. Consider this property for lease or sale.

• CAP approach

  CAP return

  Valuation

  6%

  $1,090,126

  6.5%

  $1,006,270

  7%

  $934,393

• Comparable approach

  Method

  Valuation

  Relative Method

  $379,687

  Geo Method

  $379,687

• Alternative Use

  Use

  Valuation

  Residential

  $1,247,775

  Hospitality

  $1,142,955

  Educational

  $950,925

  Medical

  $983,629

  Retail

  $1,479,217

Location Insight

City

Papillion

County

Sarpy

State

Nebraska

Latitude

41.1387

Longitude

-96.0316

CBSA code

36540

CBSA name

OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.