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Property profile & analytics
FOR LEASE
Medical Office Space
515 N 162Nd Ave Omaha, NE 68118
Entity Owned
Absentee Owner
Free & Clear
Property ID
US57-0159589
For Lease
1 / 65
$19.50 SF/Yr
515 N 162Nd Ave, Omaha, NE 68118
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Property summary
AI-generated overview
This exceptional Class A medical office building, the West Dodge Medical Plaza, offers a prime opportunity for healthcare professionals seeking flexible and modern space in Omaha, Nebraska. Located at 515 N 162nd Avenue, at the intersection of 156th & West Dodge Road, this three-story building boasts 64,852 square feet of total space, with multiple suites available for lease. The building features a total of 414 parking spaces, ensuring convenient access for patients and staff. Individual suites range from a minimum of 2,379 square feet to a maximum contiguous space of 4,884 square feet, providing options to accommodate various practice sizes. Currently, 13,949 square feet is available for lease. Built in 2007, the property sits on a 4.17-acre lot and is zoned GO (General Office). The building includes elevators for easy access to all three floors. Its location in the desirable Dodge Corridor submarket of Douglas County, Nebraska (zip code 68118) provides excellent visibility and accessibility. This is a rare opportunity to secure high-quality, well-maintained Class A medical office space in a thriving Omaha location.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2008
Total area
63,667 SF
Lot
4.17 ac (181,645 SF)
APN
2442490642
UPID
US57-0159589
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Methodist Endoscopy Center LLC. Medical Clinic
-
West Dodge Medical Plaza Medical Clinic
-
Methodist Hospital Sleep Center (West Dodge Medical Plaza) Medical Clinic
-
Townley Peter M MD Physician
-
Su Yungpo B MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.91M
Blend (final)
Blend
$6.95M
Owner & transaction history
WEST DODGE MEDICAL CENTER LLC
WEST DODGE MEDICAL CENTER LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$10.0M
+3.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Omaha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Omaha submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$9,615,000
Current use
RETAIL STORES
$9,950,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$9,450,000
Change: -2% · Conversion: Difficult
OFFICE BUILDING
$9,290,000
Change: -3% · Conversion: Easy
COMMERCIAL (GENERAL)
$8,920,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$6.95M
Range $6.25M – $7.64M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$109 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$176,202
Tax year 2023
Assessed value
$8,850,500
Assessed 2023
Previous assessed
$8,850,500
+0.0% YoY
Effective rate
1.99%
On assessed value
Assessed land
$2,317,600
Assessed improvement
$6,532,900
Land market value
$2,317,600
Improvement market value
$6,532,900
Total market value
$8,850,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2008
Heating
YES
Cooling
YES
Stories
3
Units
5
Total area
63,667 SF
Lot
4.17 ac (181,645 SF)
APN
2442490642
UPID
US57-0159589
Jurisdiction
DOUGLAS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$9.6M
RETAIL STORES
Est. value
$10.0M
AUTO REPAIR, GARAGE
Est. value
$9.5M
OFFICE BUILDING
Est. value
$9.3M
COMMERCIAL (GENERAL)
Est. value
$8.9M
MEDICAL BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Heating
YES
Cooling
Yes
Stories
3
Units
5
Lot
4.17 ac
Current owner
From public records · entity-resolved
WEST DODGE MEDICAL CENTER LLC
Entity
Free & Clear · 0 yrs held
Mailing address
8701 W DODGE RD STE #200, OMAHA, NE 68114-3429
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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