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    1501 Howard St Omaha, NE 68102

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    1501 Howard St Omaha, NE 68102

    View on Map
    • Retail space
    • 26,136 SF
    • 0.20 lot acres
    For Lease
    $1,740,000
    View Listing →
    Howard Street Retail/Office Space For Lease
    $1,740,000
    3,117 SF

    Howard Street Retail/Office Space

    Retail and office suites available for lease on Howard Street.

    1501 Howard St, Omaha, NE 68102
    View Listing
    Property ID
    US57-1111717
    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.
    Value Estimations
    $1,740,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Men's Healing Clinic / Medical Clinic
    • Cool Cole Theater / Theater & Performing Art Venue

    Property Details for 1501 Howard St

    Year built
    1892
    Lot size
    0.20 lot acres
    Property size
    26,136 SF
    Property type
    Retail space
    APN
    315670000
    APU
    315670000

    Description

    This exceptional commercial property, located at 1501 Howard Street in Omaha, Nebraska, presents a unique opportunity for retail or restaurant businesses. The three-story, Class B building, constructed in 1892, offers a total of 26,136 square feet, encompassing two suites. Suite 1 comprises 3,117 square feet, while Suite 2 offers 2,838 square feet. Currently, 5,955 square feet are vacant and available for lease. The minimum divisible space is 2,838 square feet, with a maximum contiguous space of 3,117 square feet. The property sits on a 0.2-acre lot and includes 16 parking spaces. Located in Douglas County, Nebraska, with a zip code of 68102, this property benefits from its established location and high visibility. The asking rent is $16.00 per square foot. Suite 1's monthly rent is $4,156.00, with an additional $6,462.58 in monthly charges. Suite 2's monthly rent is $3,784.00, with an additional $5,884.12 in monthly charges. This historic building offers a blend of character and modern functionality, making it an ideal location for a variety of businesses. Don't miss this chance to secure a prominent space in Omaha's vibrant commercial district.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,860,000
      ML approach
      $1,780,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,848,000
      Market price range: $1.85M - $6.44M
      AI Estimate
      $1,205,000
      Market price range: $1.21M - $3.91M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -95.9362
    Latitude
    41.2552
    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
    2023
    $16,020
    $278,800
    $480,500
    $759,300
    -
    $278,800
    $480,500
    $759,300

    Comparable in this City

    • Value Estimation
      $26,695,000
      193,380 SF

      201 16th St

      RETAIL STORES (PERSONAL SERVICES) • 193,380 SF
      201 16th St, Omaha, NE 68102-4703
      View Details
    • Value Estimation by Request
      1,188 SF

      Omaha, NE 68102

      RETAIL STORES (PERSONAL SERVICES) • 1,188 SF
      Omaha, NE 68102
      View Details
    • Value Estimation
      $1,460,000
      8,448 SF

      1402 Howard St

      RETAIL STORES (PERSONAL SERVICES) • 8,448 SF
      1402 Howard St, Omaha, NE 68102-2822
      View Details
    • Value Estimation
      $1,460,000
      7,510 SF

      1203 Mike Fahey St

      RETAIL STORES (PERSONAL SERVICES) • 7,510 SF
      1203 Mike Fahey St, Omaha, NE 68102
      View Details
    • Value Estimation
      $545,000
      4,289 SF

      1010 Howard St

      RETAIL STORES (PERSONAL SERVICES) • 4,289 SF
      1010 Howard St, Omaha, NE 68102-2815
      View Details
    • Value Estimation
      $1,830,000
      14,404 SF

      1098 Howard St

      RETAIL STORES (PERSONAL SERVICES) • 14,404 SF
      1098 Howard St, Omaha, NE 68102-2815
      View Details

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    Omaha, NE 68102
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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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