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Property profile & analytics
OFF-MARKET
Estimated value
$7,780,000
Medical Office Space
16945 Frances St Omaha, NE 68130-2312
Entity Owned
6-yr Hold
Free & Clear
Property ID
US57-1140156
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2001
Total area
22,000 SF
Lot
1.71 ac (74,488 SF)
Zoning code
MU
APN
1602856063
UPID
US57-1140156
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
Current use
Occupant on record · Public records
-
Neurological and Headache Center Hospital
-
Midwest Allergy and Asthma Clinic, P.C. Medical Clinic
-
Shakir Ebrahim M MD Physician Medical Clinic
-
Beyond Care Pediatrics Pediatrician Medical Clinic
-
Dr. Jeffrey S. Nelson, MD Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.78M
Owner & transaction history
Heiskell Properties LLC · 6 yrs held
Heiskell Properties LLC
since 2020
Last sale
$7.2M
4 recorded transactions
Zoning & alternative use
MU · Omaha, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The MU mixed use district is intended to accommodate projects that combine several compatible land uses into an integrated development consistent with the goals and policies of the land use and urban design elements of the city's comprehensive plan
Zone name
Mixed Use District
General category
MIXED_USE
Zone area
3,288.99 ac
Source
Realmo
Top alternative use upside
Restaurant
$7.2M
+117.4%
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 Omaha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Omaha 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
$8,285,000
ML approach
$8,430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$7,220,000
Change: +117% · Conversion: Difficult
Blend value · Realmo final
$7.78M
Range $7.00M – $8.56M · ±10% · vs last sale $7.20M (Feb 3 2020)
Last sale anchor
$7.20M
Feb 3 2020
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
$354 / 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
$51,321
Tax year 2023
Assessed value
$2,441,000
Assessed 2023
Previous assessed
$2,441,000
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$782,100
Assessed improvement
$1,658,900
Land market value
$782,100
Improvement market value
$1,658,900
Total market value
$2,441,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2001
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
2
Total area
22,000 SF
Lot
1.71 ac (74,488 SF)
Zoning code
MU
APN
1602856063
UPID
US57-1140156
Jurisdiction
DOUGLAS
Zoning & alternative use
MU · Omaha, NEZoning MU · permitted uses
MU · Omaha, NE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The MU mixed use district is intended to accommodate projects that combine several compatible land uses into an integrated development consistent with the goals and policies of the land use and urban design elements of the city's comprehensive plan
Zone name
Mixed Use District
General category
MIXED_USE
Zone area
3,288.99 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$7.2M
RESTAURANT
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
2001
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
2
Lot
1.71 ac
Current owner
From public records · entity-resolved
Heiskell Properties LLC
Entity
Free & Clear · 6 yrs held
Mailing address
12500 I ST STE #160, OMAHA, NE 68137-1254
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2020
$7,200,000
Heiskell Properties LLC
Rfw Properties LLC
Grant Deed
—
Jul 11, 2014
—
Rfw Properties LLC
Waite,roland F
Grant Deed
—
—
—
Roland F Waite
—
Deed Of Trust
related
$1,750,000 · First State Bank
—
—
Roland F Waite
—
Deed Of Trust
related
$2,330,000 · American Equity Inv Life Ins
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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