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Property profile & analytics
OFF-MARKET
Estimated value
$13,560,000
Office buildings
2121 117th Ave, Omaha, NE 68164-3629
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US57-1188454
Property summary
AI-generated overview
North Park 3, located at 2121 N 117th Ave in Omaha, Nebraska, presents an exceptional opportunity for an owner-occupant. This three-story Class B office building, totaling 119,664 square feet, sits on a 7.814-acre lot and boasts significant updates. Constructed in 1990 and extensively renovated in 2021, the property features large floor plates, providing efficient and flexible workspace. The building's interior and exterior have undergone comprehensive improvements, including common areas and restrooms, reflecting a commitment to modern aesthetics and functionality. The property benefits from substantial parking ratios, ensuring ample space for employees and visitors. Strategically positioned at the entrance to North Park Business Park, the building enjoys high visibility from Blondo Street, enhancing its branding and accessibility. Current lease rates are below market, offering significant potential for increased revenue. The property's size and features make it an ideal acquisition for a business seeking to establish a prominent presence in Omaha's thriving business community. The zip code is 68164, and the property is situated in Douglas County.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Total area
120,349 SF
Lot
7.81 ac (340,204 SF)
APN
1842390107
UPID
US57-1188454
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
-
Avenue Scholars Charitable Organization Social Service Agency
-
Avantas Consultant
-
Youth Frontiers Child Welfare Organization Charitable Organization
-
Advanced ATM Systems Atm
-
FedEx Drop Box Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.56M
Blend (final)
Blend
$13.56M
Owner & transaction history
North Park Caprocq LLC · 10 yrs held
North Park Caprocq LLC
since 2015
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$22.5M
+28.0%
Retail stores
$18.8M
+7.1%
Medical building
$18.2M
+3.5%
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
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
OFFICE BUILDING
$17,560,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$22,485,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$18,805,000
Change: +7% · Conversion: Moderate
MEDICAL BUILDING
$18,175,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$17,860,000
Change: +2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$16,860,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$13.56M
Range $12.20M – $14.92M · ±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
$113 / 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
$257,460
Tax year 2023
Assessed value
$12,203,100
Assessed 2023
Previous assessed
$12,203,100
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$878,000
Assessed improvement
$11,325,100
Land market value
$878,000
Improvement market value
$11,325,100
Total market value
$12,203,100
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1990
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
3
Units
4
Total area
120,349 SF
Lot
7.81 ac (340,204 SF)
APN
1842390107
UPID
US57-1188454
Jurisdiction
DOUGLAS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$17.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$22.5M
RETAIL STORES
Est. value
$18.8M
MEDICAL BUILDING
Est. value
$18.2M
AUTO REPAIR, GARAGE
Est. value
$17.9M
COMMERCIAL (GENERAL)
Est. value
$16.9M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1990
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
4
Lot
7.81 ac
Current owner
From public records · entity-resolved
North Park Caprocq LLC
Entity
Mailing address
1 ALLIED DR STE #1500, LITTLE ROCK, AR 72202-2067
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
35 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2015
$13,800,000
North Park Caprocq LLC
Wells Fargo Bk NA 2007-2
Grant Deed
$12,000,000 · First Sec Bk
May 28, 2014
$14,162,000
Wells Fargo Bank NA 2007-2 Tr
Peters Lisa M
Trustees Deed
related
—
Mar 29, 2007
$436,000
Rivas-north Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Mar 22, 2007
$797,222
Johnson-north Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Mar 22, 2007
$118,288
Olsen-north Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Mar 22, 2007
$57,155
Roberts-north Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Mar 19, 2007
—
Vk Blondo Properties
—
Deed Of Trust
related
$6,000,000 · First National Bank Omaha
Mar 5, 2007
$1,467,777
Smolinsky-north Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Mar 2, 2007
$96,444
Becker-north Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Feb 26, 2007
—
Eggers North Park II LLC
Dbsi North Park II LLC
Warranty Deed
related
—
Feb 16, 2007
$1,124,444
Essabhoy-north Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Feb 7, 2007
$3,150,000
Fitch Of Nesbitt-north Fark II Ll
Dbsi North Park II LLC
Warranty Deed
—
Feb 7, 2007
—
Piccadilly-north Park II LLC
Dbsi North Park II LLC
Warranty Deed
related
—
Jan 31, 2007
$1,121,000
Barber-north Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 26, 2007
$1,050,000
Peters-north Park II LLC
Dbs1 North Park II LLC
Warranty Deed
—
Jan 23, 2007
$1,083,124
Kubly North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$765,000
Peirce North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$903,000
R4 North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$315,000
Mendioroz North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$840,000
Beacom North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$705,000
Odell North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$18,100,000
Dbsi North Park II LLC
Vk Blondo Properties
Grant Deed
—
Jan 19, 2007
$1,321,000
Deane North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$606,000
Greenhalgh North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$1,366,000
Skoff North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$1,323,000
Procopio North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$1,050,000
Shimer North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$1,217,000
Farkas North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$1,270,000
Sommer North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$1,701,000
H B Orchard North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$881,000
Cook North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$1,287,000
Demico North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$649,000
Mckay North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$476,000
Rainey North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
Jan 19, 2007
$1,071,000
D Staley North Park II LLC
Dbsi North Park II LLC
Warranty Deed
—
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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