Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3223 108th St Omaha, NE 68144-4903

    • Apartment buildings
    • 3,720 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Jan 06, 2021
    $435,000
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    5.9%
    Apartment buildings
    Location Intelligence
    Property ID
    US57-1175552
    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

    • Mega Saver / Gas Station / Cell Phone Store
    • Tobacco & Phones 4 Less / Cell Phone Store
    • National Bitcoin ATM / Atm / Currency Exchange Service

    Property Details for 3223 108th St

    Year built
    1960
    Construction
    FRAME
    Lot size
    0.32 lot acres
    Property size
    3,720 SF
    Zone code
    R6
    Property type
    Apartment buildings
    APN
    2131430000
    APU
    2131430000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $505,000
      ML approach
      $500,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $500,000
      6.5%
      $460,000
      7%
      $430,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $535,000
      Market price range: $308k - $535k
      AI Estimate
      $365,000
      Market price range: $240k - $365k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $405,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $695,000
      Change: +71% Conversion: Difficult
      RETAIL STORES
      $580,000
      Change: +43% Conversion: Difficult
      MEDICAL BUILDING
      $560,000
      Change: +38% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $550,000
      Change: +36% Conversion: Difficult
      OFFICE BUILDING
      $545,000
      Change: +34% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $520,000
      Change: +28% Conversion: Moderate
      WAREHOUSE, STORAGE
      $370,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.0812
    Latitude
    41.2294
    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
    $8,313
    $24,200
    $383,400
    $407,600
    -
    $24,200
    $383,400
    $407,600

    Comparable in this City

    • Value Estimation
      $840,000
      36,414 SF

      12555 Krug Ave

      APARTMENT HOUSE (5+ UNITS) • 36,414 SF
      12555 Krug Ave, Omaha, NE 68144-3999
      View Details
    • Value Estimation
      $425,000
      3,720 SF

      3215 108th St

      APARTMENT HOUSE (5+ UNITS) • 3,720 SF
      3215 108th St, Omaha, NE 68144-4903
      View Details
    • Value Estimation
      $410,000
      3,472 SF

      3013 108th St

      APARTMENT HOUSE (5+ UNITS) • 3,472 SF
      3013 108th St, Omaha, NE 68144-4839
      View Details
    • Value Estimation
      $410,000
      3,472 SF

      3005 108th St

      APARTMENT HOUSE (5+ UNITS) • 3,472 SF
      3005 108th St, Omaha, NE 68144-4840
      View Details
    • Value Estimation
      $385,000
      9,458 SF

      12309 Westwood Ln

      APARTMENT HOUSE (5+ UNITS) • 9,458 SF
      12309 Westwood Ln, Omaha, NE 68144-3921
      View Details
    • Value Estimation by Request
      26.31 Acres

      15003 Poppleton Ave

      VACANT COMMERCIAL LAND • 26.31 Acres
      15003 Poppleton Ave, Omaha, NE 68144
      View Details

    Similar Nearby for Sale

    • $325,000
      0.46 Acres

      Residential Lots in Sterling Ridge

      Residential lots in premier neighborhood with mature landscaping and accessibility.
      1512 S St, Omaha, NE 68144
      View Details
    • $465,328
      1.06 Acres

      Residential Lots in Sterling Ridge

      Luxury residential lots in premier Omaha neighborhood, convenient location.
      1722 S 129 Plaza Cir, Omaha, NE 68144
      View Details
    • $305,000
      0.53 Acres

      Omaha Residential Lot Opportunity

      Residential lot in the coveted Heartwood Estates neighborhood.
      1672 S Avenue Plz, Omaha, NE 68144
      View Details
    • $129,281
      0.31 Acres

      Residential Lots in Sterling Ridge

      Residential lots in premier Omaha neighborhood with mature landscaping.
      12814 Woolworth Ave, Omaha, NE 68144
      View Details
    • $305,000

      Residential Lot in Heartwood Estates

      Luxury residential lot in a coveted Omaha neighborhood.
      1558 S Avenue Plz, Omaha, NE 68144
      View Details
    • $2,100,000
      13,271 SF

      Omaha Office Building For Sale

      Office building with central location and recent capital improvements.
      2514 S 119Th St, Omaha, NE 68144
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      62,291 SF

      Prime Douglas County Commercial Land

      1.43 Acres, Ample Parking
      148th Center Rd, Omaha, NE 68144
      View Details
    • $14 SF/Yr
      14,808 SF

      Gold Circle Office Building Investment

      Omaha Executive/Medical Suites Available
      13911 Gold Cir, Omaha, NE 68144
      View Details
    • $18 SF/Yr
      56,148 SF

      Terrace Plaza Office Suites

      Southwest Omaha Office Space Available
      11414 Center Rd, Omaha, NE 68144
      View Details
    • $10 SF/Yr
      192,412 SF

      BEL AIR PLAZA Retail Center

      Omaha Retail Center: High-traffic location, ample parking.
      12100 Center Rd, Omaha, NE 68144
      View Details
    • $24 SF/Yr
      115,000 SF

      Omaha Class A Office Space

      Modern Executive/Creative Office Suites Available
      13120 Pierce St, Omaha, NE 68144
      View Details
    • $8 SF/Yr
      12,430 SF

      Omaha Executive Office Space

      Prime Omaha office, multiple suites available.
      2433-2435 130Th Cir, Omaha, NE 68144
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3223 108th St
    Omaha, NE 68144-4903
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.