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Property profile & analytics
OFF-MARKET
Estimated value
$8,715,000
Hotels
655 108th Ave Omaha, NE 68154-1755
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US57-0112574
Property summary
AI-generated overview
Exceptional investment opportunity: A fully approved conversion of a 221-key Wyndham Hotel into Spring House Senior Living in Omaha, Nebraska, is available for $17,500,000. This value-add project offers 155 units of independent and assisted living residences, including memory care, representing a significant upside potential in the growing senior living market. The six-story, Class B building, constructed in 1974 and renovated in 2012 and 2021, boasts a prime location in suburban Omaha at the intersection of Interstate 680 and Dodge Road, an epicenter of business activity. The property is zoned Community Commercial and features above-average physical condition upon completion of the conversion. All necessary permits are in place and ready for immediate conversion. The price per key is $79,185.52. This fee-simple ownership opportunity presents a unique chance to capitalize on the expanding demand for senior living facilities in the Omaha area. The property is located at 655 N 108th Ave, Omaha, NE 68154, within Douglas County.
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1974
Total area
137,981 SF
Lot
5.52 ac (240,451 SF)
APN
129640011
UPID
US57-0112574
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
-
ATM Atm
-
Wyndham Omaha Hotel & Motel
-
Wyndham Omaha/West Dodge Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.64M
CAP Approach
CAP
$10.29M
Comparable Approach
Comparable
$8.76M
Blend (final)
Blend
$8.72M
Owner & transaction history
Ne Omaha LLC · 4 yrs held
Ne Omaha LLC
since 2022
Last sale
$8.8M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$8,585,000
ML approach
$8,635,000
CAP Approach
CAP Return
Estimation
6%
$11,140,000
6.5%
$10,285,000
7%
$9,550,000
Blend value · Realmo final
$8.72M
Range $7.84M – $9.59M · ±10% · vs last sale $8.80M (Jan 25 2022)
Last sale anchor
$8.80M
Jan 25 2022
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
$63 / 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
$136,786
Tax year 2023
Assessed value
$6,483,400
Assessed 2023
Previous assessed
$6,483,400
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$1,202,400
Assessed improvement
$5,281,000
Land market value
$1,202,400
Improvement market value
$5,281,000
Total market value
$6,483,400
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1974
Heating
YES
Cooling
YES
Stories
6
Units
221
Rooms
221
Total area
137,981 SF
Lot
5.52 ac (240,451 SF)
APN
129640011
UPID
US57-0112574
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
Building & site characteristics
From public records
Year built
1974
Heating
YES
Cooling
Yes
Stories
6
Units
221
Rooms
221
Lot
5.52 ac
Current owner
From public records · entity-resolved
Ne Omaha LLC
Entity
Mailing address
655 N 108TH AVE, OMAHA, NE 68154-1755
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2022
$8,800,000
Ne Omaha LLC
Omaha Investment Holdings LLC
Warranty Deed
$6,160,000 · Exchange Bank
Dec 26, 2017
$6,500,000
Summit Hotels LLC
Lm-omaha INC
Warranty Deed
$7,500,000 · Fnbc
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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