Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    602 Msn Ave Bellevue, NE 68005-5122

    • Office buildings
    • 1,837 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0245722
    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 602 Msn Ave

    Year built
    1955
    Construction
    WOOD FRAME
    Lot size
    0.21 lot acres
    Property size
    1,837 SF
    Zone code
    1
    Property type
    Office buildings
    APN
    10612106
    APU
    10612106

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $233,000
      Market price range: $214k - $468k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $350,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    Sarpy
    State
    Nebraska
    Longitude
    -95.9005
    Latitude
    41.1368
    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
    $2,112
    $34,729
    $65,284
    $100,013
    -
    $34,729
    $65,284
    $100,013

    Comparable in this City

    • Value Estimation
      $290,000
      1,113 SF

      1311 Harlan Dr

      OFFICE BUILDING • 1,113 SF
      1311 Harlan Dr, Bellevue, NE 68005-3647
      View Details
    • Value Estimation
      $315,000
      3,406 SF

      209 Galvin N Rd

      OFFICE BUILDING • 3,406 SF
      209 Galvin N Rd, Bellevue, NE 68005-4852
      View Details
    • Value Estimation
      $415,000
      13,048 SF

      1307 Harlan Dr

      OFFICE BUILDING • 13,048 SF
      1307 Harlan Dr, Bellevue, NE 68005-3699
      View Details
    • Value Estimation
      $375,000
      3,184 SF

      1718 Hillcrest Dr

      OFFICE BUILDING • 3,184 SF
      1718 Hillcrest Dr, Bellevue, NE 68005
      View Details
    • Value Estimation
      $290,000
      5,820 SF

      2221 Main St

      OFFICE BUILDING • 5,820 SF
      2221 Main St, Bellevue, NE 68005-5239
      View Details
    • Value Estimation
      $100,000
      890 SF

      900 Msn Ave

      OFFICE BUILDING • 890 SF
      900 Msn Ave, Bellevue, NE 68005-3945
      View Details

    Similar Nearby for Sale

    • $9,700,000
      97,389 SF

      Bellevue, NE Data Center Investment

      97,389 SF TierPoint Data Center; 6% Cap Rate
      1001 Fort Crook Rd, Bellevue, NE 68005
      View Details
    • $65,000

      Bellevue Commercial Lot Opportunity

      0.71-acre commercial lot in a thriving retail hub.
      913 Harvell Dr, Bellevue, NE 68005
      View Details
    • $680,000
      7,260 SF

      Bellevue Industrial Property

      9.15-acre manufacturing/cold storage facility.
      1000 Cunningham Rd, Bellevue, NE 68005
      View Details
    • $37,900
      0.30 Acres

      Bellevue, NE Residential Land

      Residential land for sale in Bellevue, Nebraska.
      13 Hidden Hills Dr, Bellevue, NE 68005
      View Details
    • $1,795,000
      60.34 Acres

      60.34 Acres with Gun Range

      60.34 acres of farmland with a six-position firing range.
      3545 Harlan Lewis Rd, Bellevue, NE 68005
      View Details
    • $3,410,000
      62.00 Acres

      Bellevue, NE: 62 Acres Commercial Land

      Prime Commercial/Industrial Land, $3.41M
      100 Cunningham Rd, Bellevue, NE 68005
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      15,000 SF

      Thurston Circle Flex Space Available

      Prime Flex Industrial Space, 4,500-9,000 SF
      2201 Thurston Cir, Bellevue, NE 68005
      View Details
    • $12 SF/Yr
      820 SF

      Bellevue Retail or Office Space

      Retail or office space in the heart of Bellevue, Nebraska.
      1305 Galvin Rd S, Bellevue, NE 68005
      View Details
    • $12 SF/Yr
      638 SF

      Bellevue Retail or Office Space

      Retail or office space in the heart of Bellevue, Nebraska.
      1315-1321 Galvin Rd S, Bellevue, NE 68005
      View Details
    • $17 SF/Yr
      42,239 SF

      SES Technical Center: Bellevue Office Space

      Bellevue office suites, 800-4,872 SF available.
      1311 Fort Crook Rd, Bellevue, NE 68005
      View Details
    • $15 SF/Yr
      56,128 SF

      Bellevue Office Center Investment

      Prime Bellevue Office Space Available
      2206 Longo Dr, Bellevue, NE 68005
      View Details
    • $7 SF/Yr
      342,190 SF

      Southroads Tech Park Office Space

      Prime Office Space, Flexible Layouts
      1001 Fort Crook Rd, Bellevue, NE 68005
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    602 Msn Ave
    Bellevue, NE 68005-5122
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.