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

    3604 Twin Crk Dr Bellevue, NE 68123-4077

    • Strip malls
    • 20,000 SF
    • 2.49 lot acres
    OFF-MARKET
    Value Estimations
    $2,815,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0007357
    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

    • Midlands Real Estate / Real Estate Agent / Property Management Company
    • Navy Federal Credit Union ATM / Atm
    • Navy Federal Credit Union / Atm / Business Banking Service
    • Wild Chicken Grill / Restaurant
    • Massage Envy / Aromatherapy Service / Day Spa

    Property Details for 3604 Twin Crk Dr

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    2.49 lot acres
    Property size
    20,000 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    11317183
    APU
    11317183

    Description

    Twin Creek Plaza, located at 3604-4102 Twin Creek Drive in Bellevue, Nebraska (zip code 68123), presents a significant retail and office investment opportunity. This 66,961 square foot strip center sits on a substantial 135-acre lot in Sarpy County, offering excellent visibility and accessibility along Highway 370. The property's multiple tenancy configuration provides flexibility for a variety of businesses. Currently, there are 3,575 square feet of vacant space available, divisible into units as small as 1,169 square feet, with a maximum contiguous space of 3,939 square feet. The property's location within established, attractive neighborhoods offers a strong potential for sustained occupancy and growth. Its prominent position along a major thoroughfare ensures high traffic volume and exposure, making it an ideal location for businesses seeking strong visibility and accessibility. The property's size and configuration offer significant potential for redevelopment or expansion, catering to a wide range of business needs. This is a rare opportunity to acquire a well-located, sizable commercial property in a thriving Nebraska community. The property is classified as a retail and office strip center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    Sarpy
    State
    Nebraska
    Longitude
    -95.9674
    Latitude
    41.1427
    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
    $45,883
    $758,520
    $1,435,234
    $2,193,754
    -
    $758,520
    $1,435,234
    $2,193,754

    Comparable in this City

    • Value Estimation
      $2,100,000
      12,276 SF

      2012 Cornhusker Rd

      SHOPPING CENTER, STRIP CENTER • 12,276 SF
      2012 Cornhusker Rd, Bellevue, NE 68123-4423
      View Details
    • Value Estimation
      $1,490,000
      9,756 SF

      2403 Towne Ctr Dr

      SHOPPING CENTER, STRIP CENTER • 9,756 SF
      2403 Towne Ctr Dr, Bellevue, NE 68123-6402
      View Details
    • Value Estimation
      $1,330,000
      7,644 SF

      3811 Twin Crk Dr

      SHOPPING CENTER, STRIP CENTER • 7,644 SF
      3811 Twin Crk Dr, Bellevue, NE 68123-4000
      View Details
    • Value Estimation
      $1,735,000
      10,080 SF

      10403 15th St

      SHOPPING CENTER, STRIP CENTER • 10,080 SF
      10403 15th St, Bellevue, NE 68123-4448
      View Details
    • Value Estimation
      $3,620,000
      9,100 SF

      10110 15th St

      SHOPPING CENTER, STRIP CENTER • 9,100 SF
      10110 15th St, Bellevue, NE 68123-4036
      View Details
    • Value Estimation by Request
      11,692 SF

      3608 Twin Crk Dr

      SHOPPING CENTER, STRIP CENTER • 11,692 SF
      3608 Twin Crk Dr, Bellevue, NE 68123-4015
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $21 SF/Yr
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      Bellevue Retail Center - Hwy 370

      High-traffic retail space, Bellevue, NE.
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      Retail space with high visibility near Offutt Air Force Base.
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      New warehouse/distribution space in Bellevue, NE, near Highway 75.
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      240,000 SF Manufacturing/Warehouse
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    • $16 SF/Yr
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      Bellevue Office Space For Lease

      Office space in established business hub near major highways.
      3200 Samson Way, Bellevue, NE 68123
      View Details
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    Bellevue, NE 68123-4077
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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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