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    Property profile & analytics

    222 72nd St Omaha, NE 68114-4668

    • Banks
    • 24,816 SF
    • 1.77 lot acres
    OFF-MARKET
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0140723
    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

    • U.S. Bank-Mortgage Loan Officer-Joseph Rollinger / Loan Service / Bank
    • U.S. Bank-Brandon Souba-Mortgage Loan Officer / Loan Service / Bank
    • U.S. Bank Branch / Bank / Loan Service
    • U.S. Bank-Stanley Hawkins-Mortgage Loan Officer / Loan Service / Bank
    • The Daily Record / Publishing House / Newspaper & Magazine

    Property Details for 222 72nd St

    Year built
    1955
    Lot size
    1.77 lot acres
    Property size
    24,816 SF
    Zone code
    GC
    Property type
    Banks
    APN
    800440004
    APU
    800440004

    Description

    This three-story, 24,816 square foot office building, situated on a 1.77-acre lot at the prominent 72nd and Farnam intersection in Omaha, Nebraska (zip code 68114), presents a unique investment opportunity. Built in 1955, the building offers a traditional office layout with multiple tenancies. Currently, there is 1,584 square feet of vacant space available, divisible into units ranging from a minimum of 624 square feet to a maximum contiguous space of 960 square feet. The building features convenient elevator access. Its location provides excellent access to Omaha's major thoroughfares and a wealth of nearby retail and dining establishments. The available suite is conveniently located on the third floor. The property is zoned for commercial use. This is an ideal location for businesses seeking a well-established presence in a thriving Omaha neighborhood. The building's central location and ample space make it a highly desirable option for a variety of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $865,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,758,000
      Market price range: $1.76M - $3.12M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,995,000
      MEDICAL BUILDING
      $1,925,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.0247
    Latitude
    41.2583
    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
    $76,607
    $1,926,400
    $1,829,700
    $3,756,100
    -
    $1,926,400
    $1,829,700
    $3,756,100

    Comparable in this City

    • Value Estimation
      $650,000
      11,488 SF

      210 Regency Pkwy

      FINANCIAL BUILDING • 11,488 SF
      210 Regency Pkwy, Omaha, NE 68114-3726
      View Details
    • Value Estimation
      $2,270,000
      3,037 SF

      8510 Dodge Rd

      FINANCIAL BUILDING • 3,037 SF
      8510 Dodge Rd, Omaha, NE 68114-3404
      View Details
    • Value Estimation by Request
      5,782 SF

      7818 Cass St

      FINANCIAL BUILDING • 5,782 SF
      7818 Cass St, Omaha, NE 68114-3583
      View Details
    • Value Estimation
      $510,000
      4,852 SF

      7921 Dodge Rd

      FINANCIAL BUILDING • 4,852 SF
      7921 Dodge Rd, Omaha, NE 68114-3422
      View Details
    • Value Estimation
      $2,060,000
      3,940 SF

      7529 Dodge St

      FINANCIAL BUILDING • 3,940 SF
      7529 Dodge St, Omaha, NE 68114-3632
      View Details
    • Value Estimation
      $1,435,000
      28,415 SF

      10010 Regency Cir

      FINANCIAL BUILDING • 28,415 SF
      10010 Regency Cir, Omaha, NE 68114-3732
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Multi-use strip center in central Omaha with high visibility.
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      60,799 SF

      Office and Retail Space Available

      Office and retail spaces for sale near high-traffic area.
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      Omaha Land For Sale

      Land available for sale in Omaha, Nebraska.
      333 S 72Nd St, Omaha, NE 68114
      View Details
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      39,830 SF

      Renovated Office Space on Dodge

      Extensively renovated office space with high visibility on West Dodge.
      8701 W Dodge Rd, Omaha, NE 68114
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    • $2,740,000
      0.56 Acres

      72nd & Farnam Development Land

      Omaha commercial land, high traffic
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    • Contact for pricing
      20,786 SF

      Omaha Office Space For Sale

      Class B office space near Westroads Mall, built in 1995.
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    Similar Nearby for Lease

    • Contact for pricing
      2,368 SF

      Retail Space Available For Rent

      Retail space available for rent in Omaha, Nebraska.
      1303 S 72Nd St, Omaha, NE 68114
      View Details
    • Contact for pricing
      6,069 SF

      Retail/Flex Space in High-Traffic Area

      One-story building suitable for retail or flex use.
      1902 N 90Th St, Omaha, NE 68114
      View Details
    • Contact for pricing
      1,728 SF

      Retail Space with Front Parking

      Retail space with high traffic and convenient parking.
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    • Contact for pricing
      1,707 SF

      Retail Space in Busy Center

      Retail space available in a busy Omaha shopping center.
      7609-7653 Cass St, Omaha, NE 68114
      View Details
    • $9 SF/Yr
      1,200 SF

      Retail Space Near Interstate 80

      Retail space with high traffic count and ample parking.
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      View Details
    • $13 SF/Yr
      1,500 SF

      Retail Space Available For Rent

      Retail space available for lease, 1500 square feet.
      2305 N 90Th St, Omaha, NE 68114
      View Details
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    222 72nd St
    Omaha, NE 68114-4668
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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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