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    Property profile & analytics

    2606 Main St Elkhorn, NE 68022-4198

    • Apartment buildings
    • 32,640 SF
    • 0.33 lot acres
    OFF-MARKET
    Value Estimations
    $3,790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0193438
    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

    • kwELITE / Real Estate Agency
    • Kim Smock, Empire Group Nebraska (KimSellsOmaha.Com) / Real Estate Agency
    • Empire Group Nebraska with Realty ONE Group Sterling / Real Estate Agency
    • Elkhorn station apartments / Apartment Building
    • Jim Endebrock / Real Estate Agency

    Property Details for 2606 Main St

    Year built
    2021
    Construction
    FRAME
    Lot size
    0.33 lot acres
    Property size
    32,640 SF
    Property type
    Apartment buildings
    APN
    1008240053
    APU
    1008240053

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,385,000
      6.5%
      $4,045,000
      7%
      $3,760,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,214,000
      Market price range: $2.70M - $4.69M
      AI Estimate
      $3,109,000
      Market price range: $2.10M - $3.20M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,560,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $6,100,000
      Change: +71% Conversion: Difficult
      RETAIL STORES
      $5,100,000
      Change: +43% Conversion: Difficult
      MEDICAL BUILDING
      $4,930,000
      Change: +38% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $4,845,000
      Change: +36% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,575,000
      Change: +28% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkhorn
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.2374
    Latitude
    41.2826
    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
    $66,311
    $140,700
    $3,002,300
    $3,143,000
    -
    $140,700
    $3,002,300
    $3,143,000

    Comparable in this City

    • Value Estimation
      $18,190,000
      149,113 SF

      3535 Piney Crk Dr

      APARTMENT HOUSE (100+ UNITS) • 149,113 SF
      3535 Piney Crk Dr, Elkhorn, NE 68022-4423
      View Details
    • Value Estimation
      $8,820,000
      72,296 SF

      19301 Seward Plz

      APARTMENT HOUSE (5+ UNITS) • 72,296 SF
      19301 Seward Plz, Elkhorn, NE 68022-6473
      View Details
    • Value Estimation by Request
      0.95 Acres

      204 204Th St

      Multifamily properties • 0.95 Acres
      204 204Th St, Omaha, NE 68022
      View Details
    • Value Estimation by Request
      17.54 Acres

      21415 Q Rd

      Land • 17.54 Acres
      21415 Q Rd, Omaha, NE 68022
      View Details
    • Value Estimation by Request
      4.85 Acres

      1225 192Nd St

      Land • 4.85 Acres
      1225 192Nd St, Omaha, NE 68022
      View Details
    • Value Estimation by Request
      9.00 Acres

      192nd Dodge Rd

      Land • 794,099 SF
      192nd Dodge Rd, Omaha, NE 68022
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.95 Acres

      Omaha Development Opportunity

      Prime Omaha land, mixed-use potential
      204 204Th St, Omaha, NE 68022
      View Details
    • $74,550
      0.17 Acres

      Land in Premier Villa Community

      Land in Elkhorn's premier villa community with easy-maintenance lifestyle.
      20955 George B Lake Pkwy, Elkhorn, NE 68022
      View Details
    • $74,550
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      Villa Community Land in Elkhorn

      Land in premier villa community with easy-maintenance lifestyle.
      6310 South 208Th Ave, Elkhorn, NE 68022
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    • $74,550
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      Villa Community Land in Elkhorn

      Land in premier villa community with easy-maintenance lifestyle.
      6326 South 208Th Ave, Elkhorn, NE 68022
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    • $74,550
      0.29 Acres

      Villa Community Land in Elkhorn

      Land in premier villa community with easy-maintenance lifestyle.
      6303 South 210Th St, Elkhorn, NE 68022
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    • $74,550
      0.21 Acres

      Villa Community Land in Elkhorn

      Land in premier villa community with easy-maintenance lifestyle.
      6415 South 208Th Ave, Elkhorn, NE 68022
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      11,870 SF

      Omaha Elkhorn Office Space

      Three suites available, 1,440 sq ft minimum.
      20285 Wirt St, Omaha, NE 68022
      View Details
    • Contact for pricing

      Elkhorn Land for Medical Office

      Land available for build-to-suit medical office in Elkhorn.
      800 N 192Nd St, Elkhorn, NE 68022
      View Details
    • Contact for pricing

      Retail Space Available for Lease

      Retail property available for lease in Elkhorn, Nebraska.
      1220 S 203Rd St, Elkhorn, NE 68022
      View Details
    • Contact for pricing
      52,205 SF

      Omaha Office Space For Rent

      52,205 square feet of office space available for lease.
      1400 Douglas St, Omaha, NE 68022
      View Details
    • $19 SF/Yr
      18,750 SF

      Prime Elkhorn Retail Space

      18,750 SF Retail Building - Available Now
      2611 204Th St, Omaha, NE 68022
      View Details
    • Contact for pricing
      2,419 SF

      Elkhorn Flex/Showroom/Retail Space

      Flex/showroom/retail space in Elkhorn, ready beginning of 2024.
      606 N 210Th St, Omaha, NE 68022
      View Details
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    2606 Main St
    Elkhorn, NE 68022-4198
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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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