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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2801 88th St Omaha, NE 68124-3056

    • Office buildings
    • 11,679 SF
    • 3.38 lot acres
    OFF-MARKET
    Value Estimations
    $2,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0128961
    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

    • Elevate Recovery and Med Spa / Spa & Massage Center / Alternative Medicine Practice
    • Dr. Shirley L. Miller, MD / Pediatrician / Medical Clinic
    • Murphy Kevin R MD / Physician
    • Laura Anderson / Physician

    Property Details for 2801 88th St

    Year built
    1985
    Lot size
    3.38 lot acres
    Property size
    11,679 SF
    Property type
    Office buildings
    APN
    2037230592
    APU
    2037230592

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,840,000
      6.5%
      $2,620,000
      7%
      $2,435,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,502,000
      Market price range: $1.07M - $2.50M
      AI Estimate
      $1,793,000
      Market price range: $597k - $1.79M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,705,000
      Current use
      RESTAURANT
      $3,835,000
      Change: +125% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $2,180,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $1,825,000
      Change: +7% Conversion: Moderate
      MEDICAL BUILDING
      $1,765,000
      Change: +4% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,735,000
      Change: +2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,635,000
      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
    -96.0506
    Latitude
    41.2331
    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
    $672,200
    $3,276,000
    $3,948,200
    -
    $672,200
    $3,276,000
    $3,948,200

    Comparable in this City

    • Value Estimation
      $2,640,000
      20,711 SF

      8015 Ctr Rd

      OFFICE BUILDING • 20,711 SF
      8015 Ctr Rd, Omaha, NE 68124-3106
      View Details
    • Value Estimation
      $910,000
      7,150 SF

      8502 Ctr Rd

      OFFICE BUILDING • 7,150 SF
      8502 Ctr Rd, Omaha, NE 68124-2159
      View Details
    • Value Estimation
      $2,000,000
      15,683 SF

      7262 Mercy Rd

      OFFICE BUILDING • 15,683 SF
      7262 Mercy Rd, Omaha, NE 68124-2389
      View Details
    • Value Estimation
      $5,905,000
      52,342 SF

      1515 75th St

      OFFICE BUILDING • 52,342 SF
      1515 75th St, Omaha, NE 68124-1625
      View Details
    • Value Estimation by Request
      1,484 SF

      2805 87th St

      OFFICE BUILDING • 1,484 SF
      2805 87th St, Omaha, NE 68124-3040
      View Details
    • Value Estimation
      $20,290,000
      198,375 SF

      2120 72nd St

      OFFICE BUILDING • 198,375 SF
      2120 72nd St, Omaha, NE 68124-2366
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      203,351 SF

      Occupied Retail Center For Sale

      Fully occupied shopping center with established tenants for sale.
      2910 S 84Th St, Omaha, NE 68124
      View Details
    • $400,000
      0.26 Acres

      Residential Lot in Gated Community

      Luxury living opportunity in a gated community in District 66.
      8633 Loveland Estates Ct, Omaha, NE 68124
      View Details
    • Contact for pricing

      Development Lots Near Interstate 80

      Land available for development near 72nd Street and I-80.
      70Th St, Omaha, NE 68124
      View Details
    • Contact for pricing

      Commercial Land in Ridgeview Plaza

      Land for sale or lease, anchored by major retailers.
      180 West Center Rd, Omaha, NE 68124
      View Details
    • $19,000,000

      Established Retail Center in Omaha

      Fully occupied retail center on 18 acres near I-80.
      2910-3020 S 84Th St, Omaha, NE 68124
      View Details
    • Contact for pricing
      52,402 SF

      Adaptable Flex Space Available

      Flexible space suitable for retail, office, or light industrial use.
      2828 S 82Nd Ave, Omaha, NE 68124
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Premier Office Tower in Omaha

      Centrally located, renovated office tower with modern amenities and easy access.
      2120 S 72Nd St, Omaha, NE 68124
      View Details
    • Contact for pricing

      Renovated Office Space in Westside

      Shared office space with private offices and common areas.
      3032 S 87Th St, Omaha, NE 68124
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available with 3,232 square feet.
      1910 S 72Nd St, Omaha, NE 68124
      View Details
    • Contact for pricing

      Turnkey Medical Suite for Rent

      Medical suite with reception, four rooms with sinks, utilities included.
      14545 W Center Rd, Omaha, NE 68124
      View Details
    • Contact for pricing

      West Center Road Office Suite

      First floor office suite with private offices and open areas.
      9239 W Center Rd, Omaha, NE 68124
      View Details
    • Contact for pricing

      Small Office Space with Storage

      Office space featuring private offices, conference room, and basement storage.
      3031 S 87Th St, Omaha, NE 68124
      View Details
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    Omaha, NE 68124-3056
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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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