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    Property profile & analytics

    2301 117Th Ave Omaha, NE 68164

    • Office buildings
    • 65,707 SF
    • 5.66 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0226637
    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

    • Omaha General Auto Insurance Company / Insurance Agency
    • Asure Software / Accounting Firm

    Property Details for 2301 117Th Ave

    Year built
    1988
    Lot size
    5.66 lot acres
    Property size
    65,707 SF
    Property type
    Office buildings
    APN
    1842390106
    APU
    1842390106

    Description

    North Park Building 2, located at 2301 N 117th Ave in Omaha, Nebraska (zip code 68164), offers a significant opportunity for businesses seeking traditional office space. This two-story building, constructed in 1988 and extensively renovated in 2019, boasts a total of 65,707 square feet. Currently, 53,629 square feet are vacant and available for lease, offering flexibility for tenants of various sizes. The minimum divisible space is 7,301 square feet, while the maximum contiguous space available is 30,280 square feet. The property sits on a 5.66-acre lot and is zoned for Light Industrial use. Building amenities include elevators and ample parking, with a ratio of 5.5 spaces per 1,000 square feet. Its strategic location in a premier Omaha office park provides convenient access to Interstate 680 and major thoroughfares such as Maple Street and West Dodge Road, ensuring excellent accessibility for employees and clients. This property presents a rare opportunity to secure substantial, well-maintained office space in a highly desirable Omaha location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,273,000
      Market price range: $6.04M - $14.1M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $9,590,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $12,275,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $10,265,000
      Change: +7% Conversion: Moderate
      MEDICAL BUILDING
      $9,925,000
      Change: +4% Conversion: Easy
      AUTO REPAIR, GARAGE
      $9,750,000
      Change: +2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $9,205,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.0969
    Latitude
    41.2805
    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
    $150,590
    $915,900
    $6,221,800
    $7,137,700
    -
    $915,900
    $6,221,800
    $7,137,700

    Comparable in this City

    • Value Estimation
      $2,625,000
      20,908 SF

      11420 Blondo St

      OFFICE BUILDING • 20,908 SF
      11420 Blondo St, Omaha, NE 68164-3857
      View Details
    • Value Estimation
      $950,000
      6,456 SF

      5323 134th Ave

      OFFICE BUILDING • 6,456 SF
      5323 134th Ave, Omaha, NE 68164-6302
      View Details
    • Value Estimation
      $5,410,000
      44,516 SF

      13220 Ft St

      OFFICE BUILDING • 44,516 SF
      13220 Ft St, Omaha, NE 68164-2463
      View Details
    • Value Estimation
      $13,560,000
      120,349 SF

      2121 117th Ave

      OFFICE BUILDING • 120,349 SF
      2121 117th Ave, Omaha, NE 68164-3629
      View Details
    • Value Estimation
      $1,650,000
      13,312 SF

      3904 138th St

      OFFICE BUILDING • 13,312 SF
      3904 138th St, Omaha, NE 68164-5009
      View Details
    • Value Estimation
      $1,280,000
      10,846 SF

      5324 134th Ave

      OFFICE BUILDING • 10,846 SF
      5324 134th Ave, Omaha, NE 68164-6326
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      58,212 SF

      Remodeled Office Building with Amenities

      Remodeled office building in North Park with modern amenities.
      2520 N 117Th Ave, Omaha, NE 68164
      View Details
    • $10,500,000
      1,766 SF

      Two-Story Office Building for Sale

      Two-story office building with renovated amenities and signage opportunities.
      11340 Blondo St, Omaha, NE 68164
      View Details
    • Contact for pricing
      39,420 SF

      Office Building with Ample Parking

      Office building featuring private offices, conference rooms, and open space.
      10850 Emmet St, Omaha, NE 68164
      View Details
    • $11,856,500
      103,100 SF

      Omaha Executive Office Building

      103,100 SF, $115/SF, Updated
      2525 117Th Ave, Omaha, NE 68164
      View Details
    • $3,500,000
      27,492 SF

      Versatile Event Center with Offices

      Event center with offices on a 4.6-acre lot.
      11830 Stonegate Dr, Omaha, NE 68164
      View Details
    • $8,149,680
      58,212 SF

      Omaha Office Building: Prime Location

      58,212 SF Office, Owner/User Opportunity
      11808 Grant St, Omaha, NE 68164
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      105,154 SF

      Omaha Office Sublease: 12,581 SF

      Prime Omaha office space available for sublease. Beautiful park-like setting.
      11819 Miami St, Omaha, NE 68164
      View Details
    • Contact for pricing
      92,000 SF

      Omaha Office Space Available

      92,000 SF Office Building, Flexible Suites
      0 125Th St, Omaha, NE 68164
      View Details
    • $7 SF/Yr
      39,420 SF

      Prime Omaha Office Space

      Northwest Omaha, 16,476 SF Available
      10826 Emmet St, Omaha, NE 68164
      View Details
    • $12 SF/Yr
      44,000 SF

      Omaha Executive Office Space

      Modern Office Suites, 4,950-22,000 SF Available
      11010 Burdette St, Omaha, NE 68164
      View Details
    • $12 SF/Yr
      65,707 SF

      Omaha Office Space: North Park 2

      Prime Omaha office space, 53,629 SF available.
      2301 117Th Ave, Omaha, NE 68164
      View Details
    • $7 SF/Yr
      58,212 SF

      North Park I Office Space

      Omaha Office Building, 58,212 SF
      11808 Grant St, Omaha, NE 68164
      View Details
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    2301 117Th Ave
    Omaha, NE 68164
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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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