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

    440 179th Plz Cir Omaha, NE 68118-3543

    • Commercial land
    • 2.94 lot acres
    OFF-MARKET
    Last Sale
    Dec 28, 2023
    $2,558,000
    Value Estimations
    $2,555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0000308
    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

    • Commercial land

    Property Details for 440 179th Plz Cir

    Lot size
    2.94 lot acres
    Property type
    Commercial land
    APN
    2531221545
    APU
    2531221545

    Description

    This exceptional 2.93-acre commercial land parcel is situated at the highly visible southeast corner of N 180th Street and W Dodge Road in Omaha, Nebraska, boasting over 80,000 daily vehicle exposures. Priced at $19.50 per square foot, this property presents a unique investment opportunity within a thriving economic center. The MU-ACI zoning allows for a wide range of development possibilities, including retail, specialty office, medical facilities, food service establishments, and even residential uses. This location benefits from its proximity to Village Pointe, a vibrant area featuring established wellness, education, fitness, food service, and retail businesses. The area's strong economic performance is further evidenced by over 1.8 million square feet of Class A office space within a one-mile radius and 22,000 households within three miles. Recent multi-family development data shows a decrease in vacancy rates despite new unit deliveries, highlighting the area's robust demand. The property's immediate neighbors include notable establishments such as the Broadmoore 180 development, Pacific Springs Golf Course, Hilton Hotel, Hy-Vee grocery store, and various popular restaurants and retailers including an Apple Store, Coach Store, LOFT, Lululemon, and a soon-to-open Nordstrom. This prime location offers unparalleled visibility and access to a dense population base, making it an ideal site for a variety of commercial ventures. The property is located in Douglas County, Nebraska, with a zip code of 68118. The asking price for this exceptional property is $2,493,543.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,540,000
      ML approach
      $2,665,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.195
    Latitude
    41.2618
    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
    $22,463
    $1,068,400
    $0.00
    $1,068,400
    -
    $1,068,400
    $0.00
    $1,068,400

    Comparable in this City

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      0.94 Acres

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      VACANT COMMERCIAL LAND • 0.94 Acres
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    Similar Nearby for Sale

    • $415,000

      Commercial Land on West Dodge

      Commercial zoned land ideal for development and business growth.
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    • $2,813,228
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      West Village Pointe Development Site

      Omaha, NE Mixed-Use Land Opportunity
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    • $209,089

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      Omaha Commercial Lots: Prime Location

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      1.60 Acres

      Omaha Commercial Land - Pacific Springs Vista

      Prime Omaha land, near golf course & expressway.
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    • $1,062,000
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      Omaha Commercial Land - 1.25 Acres

      Prime Omaha location, high traffic, flexible zoning.
      440 179Th St, Omaha, NE 68118
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    Similar Nearby for Lease

    • $18 SF/Yr
      46,011 SF

      One Pacific Springs Office Suites

      West Omaha Class A Office Space Available
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      View Details
    • $20 SF/Yr
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      Updated Office Space Sublease

      Sublease available until 2026 with updated features.
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    • Contact for pricing
      6,500 SF

      Retail Space in Village Pointe

      Retail space available in Omaha's Village Pointe shopping destination.
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    • $16 SF/Yr
      2,500 SF

      Prime West Dodge Road Office

      Office space with high visibility on West Dodge Road.
      15811 W Dodge Rd, Omaha, NE 68118
      View Details
    • $17 SF/Yr
      1,000 SF

      Retail Space on West Dodge

      Retail space with high traffic and income demographics.
      15821 W Dodge Rd, Omaha, NE 68118
      View Details
    • $20 SF/Yr
      43,452 SF

      Omaha Class A Office Space

      Suburban West Dodge, 43,452 SF
      17110 Marcy St, Omaha, NE 68118
      View Details
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    Omaha, NE 68118-3543
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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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