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    Property profile & analytics

    2206 Longo Dr Bellevue, NE 68005

    • Medical Office Space
    • 20,585 SF
    • 6.05 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0048199
    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.

    Current Use by Public Records

    • SAIC Inc / Company
    • Nicole Sova, PT / Physician
    • Bellevue VA Clinic / Medical Clinic
    • VA Nebraska-Western Iowa Health Care System / Medical Clinic
    • Clinical Research Advantage / Gym & Fitness Center

    Property Details for 2206 Longo Dr

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    6.05 lot acres
    Property size
    20,585 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    11575693
    APU
    11575693

    Description

    The Bellevue Professional Center, located at 2206 Longo Dr, Bellevue, NE 68005, offers exceptional office space in a prime location. This single, two-story building totals 56,128 square feet, situated on a 6.12-acre lot. The property boasts a 1.17 load factor and currently has 23,880 square feet of vacant space available, divisible into units as small as 5,700 square feet. Three suites are available, ranging from 5,700 to 9,540 square feet. Suite 102 (9,540 sq ft) will be available January 1, 2025. Suite 201 is 8,640 sq ft and Suite 207 is 5,700 sq ft. The building features ample parking (4.5 spaces per 1,000 square feet), elevators, and is zoned for general business use. Built in 1999, this well-maintained building enjoys a convenient location near the Kennedy Freeway and Fort Crook Road & Harvell Drive, offering easy access to Offutt Air Force Base, shopping, and entertainment. The lease rate is $15.75 per square foot, NNN. Importantly, the City of Bellevue owns the property, resulting in low NNN expenses. This presents a unique opportunity for businesses seeking efficient, well-located office space in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,350,000
      Market price range: $891k - $2.35M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,810,000
      Current use
      RESTAURANT
      $2,600,000
      Change: +44% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,515,000
      Change: +39% Conversion: Difficult
      RETAIL STORES
      $2,310,000
      Change: +28% Conversion: Difficult
      OFFICE BUILDING
      $2,250,000
      Change: +24% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $2,095,000
      Change: +16% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,840,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    Sarpy
    State
    Nebraska
    Longitude
    -95.9227
    Latitude
    41.1569
    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
    2022
    $0.00
    $922,831
    $2,940,207
    $3,863,038
    -
    $922,831
    $2,940,207
    $3,863,038

    Comparable in this City

    • Value Estimation
      $630,000
      9,000 SF

      2207 Georgia Ave

      MEDICAL BUILDING • 9,000 SF
      2207 Georgia Ave, Bellevue, NE 68005-4524
      View Details
    • Value Estimation by Request
      6,005 SF

      1301 Ft Crook S Rd

      MEDICAL BUILDING • 6,005 SF
      1301 Ft Crook S Rd, Bellevue, NE 68005-2940
      View Details
    • Value Estimation by Request
      2,130 SF

      404 Msn Ave

      MEDICAL BUILDING • 2,130 SF
      404 Msn Ave, Bellevue, NE 68005-5173
      View Details
    • Value Estimation by Request
      2,430 SF

      1313 Harlan Dr

      MEDICAL BUILDING • 2,430 SF
      1313 Harlan Dr, Bellevue, NE 68005-3647
      View Details
    • Value Estimation by Request
      5,070 SF

      1002 Msn Ave

      MEDICAL BUILDING • 5,070 SF
      1002 Msn Ave, Bellevue, NE 68005-3947
      View Details
    • Value Estimation by Request
      1,036 SF

      1304 Harlan Dr

      DENTAL BUILDING • 1,036 SF
      1304 Harlan Dr, Bellevue, NE 68005-3648
      View Details

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    Similar Nearby for Lease

    • $3 SF/Yr
      6,251 SF

      Bellevue Office Space for Lease

      Flexible workspace solutions in Sarpy County.
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      View Details
    • $9 SF/Yr
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      Thurston Circle Flex Space Available

      Prime Flex Industrial Space, 4,500-9,000 SF
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      View Details
    • $7 SF/Yr
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      Divisible space suitable for office, retail, or institutional use.
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    • Contact for pricing
      638 SF

      Bellevue Retail or Office Space

      Retail or office space in the heart of Bellevue, Nebraska.
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    • $15 SF/Yr
      2,526 SF

      Professionally Maintained Bellevue Office Space

      Well-maintained office building near Kennedy Freeway and Offutt Air Force Base.
      2206 Longo Dr, Bellevue, NE 68005
      View Details
    • $17 SF/Yr
      10,490 SF

      Office Space Near Offutt AFB

      Office suites for lease near Offutt Air Force Base.
      1311 Fort Crook Rd South, Bellevue, NE 68005
      View Details
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    2206 Longo Dr
    Bellevue, NE 68005
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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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