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    3870 Dodge St Omaha, NE 68131
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    3870 Dodge St Omaha, NE 68131

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    • Commercial land
    For Sale
    $349,000
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    Prime Land Near UNMC For Sale
    $349,000

    Prime Land Near UNMC

    Ideal location for multi-family development near UNMC and Blackstone.

    3870 Dodge St, Omaha, NE 68131
    View Listing
    Property ID
    US57-1175766
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 3870 Dodge St

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    38th & Dodge Street, Within walking distance of UNMC, Blackstone District and Midtown Crossing. Fronting on Dodge Street this prime location is a ideal for a multi-family development. The existing structure is in poor condition and is expected to be removed to make room for a future project. The City of Omaha Public Works Department has confirmed the property has a curb cut, allowing for traffic to turn directly onto the property from Dodge Street. The location is within walking distance of UNMC, Blackstone District, and Midtown Crossing, just two blocks from the future streetcar route on Farnam Street. Seller is removing the existing structure and will deliver a cleared site ready to build.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Sarpy
    State
    Nebraska
    Longitude
    -95.9713225
    Latitude
    41.2597876

    Comparable in this City

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      21,780 SF

      Prime Commercial Land Opportunity

      Land near UNMC with high visibility and traffic.
      403 N Saddle Creek Rd, Omaha, NE 68131
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      5,706 SF

      Retail Space Available For Sale

      Retail space available with 5,706 square feet.
      3812 Farnam St, Omaha, NE 68131
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      44,119 SF

      Downtown Omaha Office Building

      Four-story office building with on-site parking in downtown Omaha.
      2551 Dodge St, Omaha, NE 68131
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      42,628 SF

      Industrial-Flex Warehouse in Midtown Omaha

      Industrial-flex warehouse in Midtown Omaha, ideal for owner-user.
      4370-4420 Izard St, Omaha, NE 68131
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    • $475,000

      Omaha Multi-Family Investment Opportunity

      Six-unit property near Dodge St corridor, Midtown, Blackstone District.
      112 N 38Th Ave, Omaha, NE 68131
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,780 SF

      Prime Commercial Land Opportunity

      Land near UNMC with high visibility and traffic.
      403 N Saddle Creek Rd, Omaha, NE 68131
      View Details
    • Contact for pricing
      5,706 SF

      Retail Space Available For Sale

      Retail space available with 5,706 square feet.
      3812 Farnam St, Omaha, NE 68131
      View Details
    • Contact for pricing
      44,119 SF

      Downtown Omaha Office Building

      Four-story office building with on-site parking in downtown Omaha.
      2551 Dodge St, Omaha, NE 68131
      View Details
    • Contact for pricing
      42,628 SF

      Industrial-Flex Warehouse in Midtown Omaha

      Industrial-flex warehouse in Midtown Omaha, ideal for owner-user.
      4370-4420 Izard St, Omaha, NE 68131
      View Details
    • $475,000

      Omaha Multi-Family Investment Opportunity

      Six-unit property near Dodge St corridor, Midtown, Blackstone District.
      112 N 38Th Ave, Omaha, NE 68131
      View Details

    Similar Nearby for Lease

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      Prime Midtown Crossing Office Space

      First floor office space for lease in Midtown Crossing.
      120 S 31St Ave, Omaha, NE 68131
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      Restaurant Building on 31st Avenue

      Restaurant building suitable for various culinary opportunities.
      220 S 31St Ave, Omaha, NE 68131
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      Premier Office Space in Omaha

      Centrally located office building with modern amenities and historic charm.
      3555 Farnam St, Omaha, NE 68131
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    • Contact for pricing
      3,268 SF

      Omaha Office Space For Lease

      Office space for lease in a growing Omaha area.
      105 N 31St Ave, Omaha, NE 68131
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      6,016 SF

      Blackstone District Food Hall Space

      Fully built-out food hall in thriving Blackstone District.
      3618 Farnam St, Omaha, NE 68131
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      1,541 SF

      High Visibility Retail Space Available

      Retail space for lease with high traffic and signage.
      4002 Dodge St, Omaha, NE 68131
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    View Listing
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    3870 Dodge St
    Omaha, NE 68131
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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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