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

    4928 114th St Omaha, NE 68137

    • Office buildings
    • 19,500 SF
    • 0.92 lot acres
    OFF-MARKET
    Last Sale
    Sep 30, 2024
    $1,300,000
    Value Estimations
    $1,405,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0059825
    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

    • Office buildings

    Property Details for 4928 114th St

    Year built
    1984
    Lot size
    0.92 lot acres
    Property size
    19,500 SF
    Zone code
    GI
    Property type
    Office buildings
    APN
    1023592260
    APU
    1023592260

    Description

    This 19,500 square foot, two-story flex building in Omaha, Nebraska, presents a compelling investment opportunity. Located at 4928 S 114th St, 68137, this Class C property boasts 9 units totaling 16,460 net rentable square feet, currently 100% occupied with a gross lease structure. The asking price is $1,375,000, representing a 6.74% cap rate and a pro-forma cap rate of 10.24%. The property features convenient access to I-80 and Q Street, two drive-in doors with potential for an additional one, and ample parking (4 spaces per 1,000 sq ft). The building sits on a 0.95-acre lot and is zoned GI. The current Net Operating Income (NOI) is $92,678, with a pro-forma NOI of $140,806. The average unit size is 1,807 square feet, making it suitable for various tenants. The property's strong location benefits from a high average household income ($89,919) within a 1-mile radius and average home values of $280,032 in the nearby Mockingbird Hills West neighborhood. The building was constructed in 1984 and offers a mix of traditional office and flex space, making it a versatile option for owner-users or investors seeking a value-add opportunity. A 3,460 square foot space is currently available for an owner-user.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,365,000
      ML approach
      $1,340,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,527,000
      Market price range: $1.53M - $2.96M
      AI Estimate
      $1,028,000
      Market price range: $559k - $3.11M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,130,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.0908
    Latitude
    41.2078
    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
    $23,212
    $30,000
    $1,135,900
    $1,165,900
    -
    $30,000
    $1,135,900
    $1,165,900

    Comparable in this City

    • Value Estimation
      $730,000
      26,689 SF

      11205 John Galt Blvd

      OFFICE BUILDING • 26,689 SF
      11205 John Galt Blvd, Omaha, NE 68137-2319
      View Details
    • Value Estimation
      $655,000
      31,960 SF

      14510 F St

      OFFICE BUILDING • 31,960 SF
      14510 F St, Omaha, NE 68137-5403
      View Details
    • Value Estimation
      $935,000
      102,964 SF

      5015 118th St

      OFFICE BUILDING • 102,964 SF
      5015 118th St, Omaha, NE 68137-2210
      View Details
    • Value Estimation
      $700,000
      97,293 SF

      5010 118th St

      OFFICE BUILDING • 97,293 SF
      5010 118th St, Omaha, NE 68137-2209
      View Details
    • Value Estimation by Request
      27,788 SF

      4980 118th St

      OFFICE BUILDING • 27,788 SF
      4980 118th St, Omaha, NE 68137-2200
      View Details
    • Value Estimation
      $415,000
      14,848 SF

      4812 114th St

      OFFICE BUILDING • 14,848 SF
      4812 114th St, Omaha, NE 68137-2304
      View Details

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    Similar Nearby for Lease

    • $14 SF/Yr
      964,325 SF

      Omaha Office & Industrial Space

      964,325 SF, 35,500 SF Available
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      View Details
    • $18 SF/Yr
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      Omaha Executive Office Space

      Premium Omaha office suites, 1,000-12,102 sq ft
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      View Details
    • $12 SF/Yr
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      Modern Office Space Available

      Efficient office setting with updated common areas and abundant parking.
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      View Details
    • $12 SF/Yr
      15,519 SF

      Millard Ave Office Space Available

      Historic Omaha office building, flexible suites.
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      View Details
    • $10 SF/Yr
      29,776 SF

      Empire Park I: Flex Space Available

      Omaha Industrial/Office Space, 29,776 SF
      4812 114Th St, Omaha, NE 68137
      View Details
    • $12 SF/Yr
      2,228 SF

      Downtown Millard Office/Retail Space

      Office or retail space in the heart of Millard.
      13825 "P" St, Omaha, NE 68137
      View Details
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    4928 114th St
    Omaha, NE 68137
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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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