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

    2909 118th St Omaha, NE 68164-3620

    • Office buildings
    • 71,009 SF
    • 4.32 lot acres
    OFF-MARKET
    Value Estimations
    $8,400,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0191287
    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

    • H3C / Physician
    • AAA Life Insurance Company / Insurance Agency
    • TPG TeleManagement Inc / Business Management Consultant
    • Ventura MedStaff / Employment Agency

    Property Details for 2909 118th St

    Year built
    2010
    Lot size
    4.32 lot acres
    Property size
    71,009 SF
    Property type
    Office buildings
    APN
    1848058002
    APU
    1848058002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,450,000
      Market price range: $6.53M - $15.2M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $10,360,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $13,265,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $11,095,000
      Change: +7% Conversion: Moderate
      MEDICAL BUILDING
      $10,725,000
      Change: +4% Conversion: Easy
      AUTO REPAIR, GARAGE
      $10,540,000
      Change: +2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $9,950,000
      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
    -96.097
    Latitude
    41.2854
    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
    $167,836
    $652,700
    $7,302,400
    $7,955,100
    -
    $652,700
    $7,302,400
    $7,955,100

    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
      18,720 SF

      Omaha Retail/Office Investment Opportunity

      18,720 SF retail/office building in Omaha, Nebraska for sale.
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      103,100 SF

      Omaha Office Building For Sale

      103,100 SF office building in North Park, Omaha.
      2525 N 117Th Ave, Omaha, NE 68164
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    • $8,475,000
      76,570 SF

      Two-Story Office Building for Sale

      Two-story office building with renovated amenities and signage opportunities.
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      58,212 SF

      Mixed-Use Development with Office, Retail

      70-acre mixed-use development with office and retail spaces.
      11808 Grant St, Omaha, NE 68164
      View Details
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      Omaha Residential Land Investment

      Residential land in West Omaha, great investment opportunity.
      2222 N 137Th St, Omaha, NE 68164
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      Commercial Lots at 110th & Blondo

      Commercial lots available for sale at 110th & Blondo.
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    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Development Office and Retail

      70 AC mixed-use development with office and retail spaces.
      11808 Grant St, Omaha, NE 68164
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    • Contact for pricing

      Remodeled Office Building with Amenities

      Remodeled office building in North Park with modern amenities.
      11808 Grant St, Omaha, NE 68164
      View Details
    • Contact for pricing

      Single-Story Office Building for Rent

      Single-story office building with ample parking and natural light.
      11420 Blondo St, Omaha, NE 68164
      View Details
    • Contact for pricing

      Two-Story Office Building for Lease

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

      Modern Office Space Available

      Office building with modern lobby and open floor plan.
      2717 N 118Th St, Omaha, NE 68164
      View Details
    • Contact for pricing

      Omaha Office Building For Rent

      Three-story office building with modern amenities and ample parking.
      2525 N 117Th Ave, Omaha, NE 68164
      View Details
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    2909 118th St
    Omaha, NE 68164-3620
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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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