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Property profile & analytics
FOR LEASE
Office buildings
2301 N 117Th Ave, Omaha, NE 68164
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US57-0226637
For Lease
1 / 13
$12 SF/Yr
2301 N 117Th Ave, Omaha, NE 68164
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Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Total area
65,707 SF
Lot
5.66 ac (246,550 SF)
APN
1842390106
UPID
US57-0226637
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
-
Omaha General Auto Insurance Company Insurance Agency
-
Asure Software Accounting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.27M
Blend (final)
Blend
$7.70M
Owner & transaction history
Crescent Properties LLC · 9 yrs held
Crescent Properties LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$12.3M
+28.0%
Retail stores
$10.3M
+7.1%
Medical building
$9.9M
+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
$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
Blend value · Realmo final
$7.70M
Range $6.93M – $8.46M · ±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
$117 / 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
$150,590
Tax year 2023
Assessed value
$7,137,700
Assessed 2023
Previous assessed
$7,137,700
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$915,900
Assessed improvement
$6,221,800
Land market value
$915,900
Improvement market value
$6,221,800
Total market value
$7,137,700
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
For Lease
Year built
1988
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
2
Units
4
Total area
65,707 SF
Lot
5.66 ac (246,550 SF)
APN
1842390106
UPID
US57-0226637
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
$9.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.3M
RETAIL STORES
Est. value
$10.3M
MEDICAL BUILDING
Est. value
$9.9M
AUTO REPAIR, GARAGE
Est. value
$9.8M
COMMERCIAL (GENERAL)
Est. value
$9.2M
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
1988
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
4
Lot
5.66 ac
Current owner
From public records · entity-resolved
Crescent Properties LLC
Entity
Mailing address
PO BOX 2108, FARGO, ND 58107-2108
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
22 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2016
$11,500,000
Crescent Properties LLC
Warren-grant Street Portfoli
Trustees Deed
$7,400,000 · Bell Bk
Jan 19, 2010
—
L Sandoval-grant Street Portfo
L Sandoval-grant Street Port
Quit Claim Deed
related
—
Jan 12, 2010
—
Aguilar-grant Street Portoli
—
Deed Of Trust
related
$10,500,000 · Banc/america Com'l Mtg #2007-2
Mar 19, 2007
—
Vk Blondo Properties
—
Deed Of Trust
related
$6,000,000 · First National Bank Omaha
Jan 19, 2007
$670,777
Mack Grant Street Portfolio Ll
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$314,000
Kane Grant Street Portfolio Ll
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$1,698,000
Orourke-grant Street Portfo
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$944,222
Grant Street Portfolio L Shota
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$2,678,000
Jensen Grant Street Portfolio
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$627,000
L Portfoli
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$665,911
Grant Street Portfolio L Iwata
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$941,000
Jana Grant Street Portfolio Ll
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$800,000
Hobson Grant Street Portfolio
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$631,000
Califano Grant Street Portfoli
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$547,222
Grant Street Portfolio L Pratt
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$16,505,000
For 1031 Grant Street Portfoli
Vk Blondo Properties
Trustees Deed
$10,500,000 · Bridger Commercial Funding LLC
Jan 19, 2007
$2,016,000
Warren Grant Street Portfolio
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$718,000
Todd Grant Street Portfolio Ll
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$414,000
L Sandoval Grant Street Portfo
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$502,000
Flower Grant Street Portfolio
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$1,568,000
Jester Grant Street Portfolio
For 1031 Grant Street LLC
Grant Deed
—
Jan 19, 2007
$1,195,000
Joseph A Mele INC Grant Street
For 1031 Grant Street LLC
Grant 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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