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

    3003 108Th St Omaha, NE 68164

    • Grocery and convenience stores
    • 66,474 SF
    • 6.00 lot acres
    For Lease
    View listing
    $8 SF/Yr
    Last Sale
    Aug 16, 2022
    $4,415,000
    Value Estimations
    $4,405,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-1093058
    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

    • Charrise Beck, RPH / Pharmacy
    • True Value Hardware / Hardware Store
    • Fresh Cut Selections / Produce Market
    • Wild Willy's Fireworks Tent - Family Fare / Fireworks Store
    • Family Fare Supermarket / Grocery Store / Supermarket

    Property Details for 3003 108Th St

    Year built
    1982
    Lot size
    6.00 lot acres
    Property size
    66,474 SF
    Property type
    Grocery and convenience stores
    APN
    1711811454
    APU
    1711811454

    Description

    This exceptional sublease opportunity presents 4,614 square feet of retail space within a thriving 66,176 square foot strip center located in Douglas County's North Central submarket at 3003 North 108th Street. The property, built in 1982 and renovated in 2016, benefits from a Class C designation and offers ample parking. The single-story building features a prominent location with high visibility and convenient access from both Maple Street and 108th Street, ensuring strong foot traffic and excellent exposure for your business. The Family Fare grocery store serves as a significant anchor tenant, drawing a consistent customer base to the center. This modified gross sublease includes utilities, simplifying your operational costs. The available space is ideal for a variety of retail uses and presents a unique chance to establish a presence in a well-established and busy shopping center. With 4,614 square feet of vacant space, this is a ready-to-occupy location with significant potential for growth and success. The property's convenient location and strong anchor tenant make this a compelling investment opportunity. Don't miss this chance to secure a prime retail space in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,305,000
      ML approach
      $4,475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,701,000
      Market price range: $4.70M - $16.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.0801
    Latitude
    41.2856
    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
    $99,046
    $936,500
    $3,758,100
    $4,694,600
    -
    $936,500
    $3,758,100
    $4,694,600

    Comparable in this City

    • Value Estimation
      $3,245,000
      41,479 SF

      13105 Birch Dr

      GROCERY, SUPERMARKET • 41,479 SF
      13105 Birch Dr, Omaha, NE 68164-5222
      View Details
    • Value Estimation
      $11,770,000
      70,434 SF

      10808 Ft St

      GROCERY, SUPERMARKET • 70,434 SF
      10808 Ft St, Omaha, NE 68164-2076
      View Details
    • Value Estimation
      $1,215,000
      21,326 SF

      13150 Ft St

      GROCERY, SUPERMARKET • 21,326 SF
      13150 Ft St, Omaha, NE 68164-1613
      View Details
    • Value Estimation
      $525,000
      3,111 SF

      11919 Ft St

      CONVENIENCE STORE • 3,111 SF
      11919 Ft St, Omaha, NE 68164-2059
      View Details
    • Value Estimation
      $760,000
      40,303 SF

      2718 118th St

      GYM, HEALTH SPA • 40,303 SF
      2718 118th St, Omaha, NE 68164-9672
      View Details
    • Value Estimation
      $780,000
      7,540 SF

      13708 Maple Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,540 SF
      13708 Maple Rd, Omaha, NE 68164-2426
      View Details

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    Similar Nearby for Lease

    • $12 SF/Yr
      2,700 SF

      Retail Space Near Family Fare

      Retail space with ample parking across from Family Fare.
      2906 N 108Th St, Omaha, NE 68164
      View Details
    • $13 SF/Yr
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      Retail spaces available with excellent visibility and signage opportunities.
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      Omaha Retail Space Available

      Retail space for lease near 132nd and Maple in Omaha.
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      Retail Space in Omaha Center

      Retail space available in a mixed-use shopping center.
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    • $16 SF/Yr
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      Omaha Retail Strip Center Investment Opportunity

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      View Details
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    3003 108Th St
    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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