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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Warehouses
1222 Royal Dr, Papillion, NE 68046-2080
Entity Owned
1-yr Hold
Free & Clear
Property ID
US57-0175964
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1988
Construction
STEEL FRAME
Total area
9,295 SF
Lot
1.52 ac (66,301 SF)
Zoning code
1
APN
10746110
UPID
US57-0175964
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.09M
Owner & transaction history
1222 Royal Drive LLC · 1 yrs held
1222 Royal Drive LLC
since 2025
5 recorded transactions
Zoning & alternative use
1 · Papillion, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.7M
+88.9%
Retail stores
$1.5M
+58.0%
Medical building
$1.4M
+52.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Papillion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Papillion submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$920,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,735,000
Change: +89% · Conversion: Moderate
RETAIL STORES
$1,450,000
Change: +58% · Conversion: Moderate
MEDICAL BUILDING
$1,405,000
Change: +53% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,380,000
Change: +50% · Conversion: Easy
OFFICE BUILDING
$1,355,000
Change: +48% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,300,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$117 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$29,851
Tax year 2023
Assessed value
$1,585,360
Assessed 2023
Previous assessed
$1,585,360
+0.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$298,355
Assessed improvement
$1,287,005
Land market value
$298,355
Improvement market value
$1,287,005
Total market value
$1,585,360
Applied tax rate
27,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Units
2
Total area
9,295 SF
Lot
1.52 ac (66,301 SF)
Zoning code
1
APN
10746110
UPID
US57-0175964
Jurisdiction
SARPY
Zoning & alternative use
1 · Papillion, NE
Zoning 1 · permitted uses
1 · Papillion, NE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Papillion. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$920,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
RETAIL STORES
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
2
Lot
1.52 ac
Current owner
From public records · entity-resolved
1222 Royal Drive LLC
Entity
Free & Clear · 1 yrs held
Mailing address
10303 OLIVE CIR, LA VISTA, NE 68128-2371
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2025
—
1222 Royal Drive LLC
John J Krayneski JR
Warranty Deed
—
May 12, 2023
—
John J Krayneski JR
—
Deed
related
$100,000 · Access Bank
Mar 25, 2022
—
Susan L Krayneski
Susan L Krayneski
Deed Of Distribution
related
—
May 25, 1999
—
Krayneski Trust
—
Grant Deed
related
$700,000 · Bank Of Nebraska
—
—
Krayneski John J Trust
—
Deed Of Trust
related
$196,200 · Kellogg Co Employees FCU
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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