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 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

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

Atm
Hotel & Motel
Hotel & Motel

655 108th Ave Omaha, NE 68154-1755

Omaha metro Census 7445 OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA

Google Maps

AI Approach AI

$8.64M

CAP Approach CAP

$10.29M

Comparable Approach Comparable

$8.76M

Blend (final) Blend

$8.59M

since 2022

Last sale

$8.8M

2 recorded transactions

2022

$8.8M

2017

$6.5M

Comparables

6 recent transactions · within 1.5 mi

Comparable in this City

Value Estimation
$8,360,000

62,926 SF

11201 Davenport St

HOTEL

11201 Davenport St, Omaha, NE 68154-2627

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Value Estimation
$3,785,000

34,318 SF

650 109th Ct

HOTEL

650 109th Ct, Omaha, NE 68154-1707

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Value Estimation
$7,905,000

64,018 SF

10865 Dodge Rd

MOTEL

10865 Dodge Rd, Omaha, NE 68154-2610

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Value Estimation
$4,230,000

57,843 SF

360 108th Ave

MOTEL

360 108th Ave, Omaha, NE 68154-2602

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Value Estimation
$2,520,000

36,202 SF

11610 Dodge Rd

MOTEL

11610 Dodge Rd, Omaha, NE 68154-2513

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Value Estimation
$900,000

6,902 SF

13851 Fnb Pkwy

RESTAURANT

13851 Fnb Pkwy, Omaha, NE 68154-5203

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Extended-Stay Hotel Suites

Extended-stay hotel with all-suite rooms featuring fully equipped kitchens, separate living and sleeping areas, and high-speed Wi-Fi.

10865 W Dodge Rd, Omaha, NE 68154

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New

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