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

    7444 Farnam St Omaha, NE 68114-4629

    • Office buildings
    • 10,872 SF
    • 0.87 lot acres
    OFF-MARKET
    Last Sale
    Oct 27, 2021
    Value Estimations
    $990,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0168780
    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

    • The Consulate of Mexico In Omaha / Foreign Consulate

    Property Details for 7444 Farnam St

    Year built
    1972
    Lot size
    0.87 lot acres
    Property size
    10,872 SF
    Property type
    Office buildings
    APN
    2326041000
    APU
    2326041000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,209,000
      Market price range: $789k - $1.55M
      AI Estimate
      $772,000
      Market price range: $220k - $1.15M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,210,000
      Current use
      MEDICAL BUILDING
      $1,640,000
      Change: +36% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,615,000
      Change: +33% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,525,000
      Change: +26% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,185,000
      Change: -2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.0278
    Latitude
    41.2582
    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
    2022
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $855,000
      15,624 SF

      10605 Burt Cir

      OFFICE BUILDING • 15,624 SF
      10605 Burt Cir, Omaha, NE 68114-2059
      View Details
    • Value Estimation
      $6,445,000
      69,362 SF

      8990 Dodge Rd

      OFFICE BUILDING • 69,362 SF
      8990 Dodge Rd, Omaha, NE 68114-3329
      View Details
    • Value Estimation
      $1,310,000
      22,232 SF

      10020 Nicholas St

      OFFICE BUILDING • 22,232 SF
      10020 Nicholas St, Omaha, NE 68114-2189
      View Details
    • Value Estimation
      $6,080,000
      60,000 SF

      8805 Indian Hls Dr

      OFFICE BUILDING • 60,000 SF
      8805 Indian Hls Dr, Omaha, NE 68114-4059
      View Details
    • Value Estimation
      $2,745,000
      30,100 SF

      10755 Burt St

      OFFICE BUILDING • 30,100 SF
      10755 Burt St, Omaha, NE 68114-2065
      View Details
    • Value Estimation
      $11,020,000
      117,594 SF

      9394 Dodge Rd

      OFFICE BUILDING • 117,594 SF
      9394 Dodge Rd, Omaha, NE 68114-3345
      View Details

    Similar Nearby for Sale

    • $6,400,000
      107,648 SF

      Adaptable Building Near Dodge Street

      Versatile building suitable for various uses with easy access.
      9102 Burt St, Omaha, NE 68114
      View Details
    • Contact for pricing
      39,830 SF

      Renovated Office Space on Dodge

      Extensively renovated office space with high visibility on West Dodge.
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      Office and Retail Space Available

      Office and retail spaces for sale near high-traffic area.
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    • Contact for pricing
      20,786 SF

      Omaha Office Space For Sale

      Class B office space near Westroads Mall, built in 1995.
      1010 N 96Th St, Omaha, NE 68114
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    • $4,700,000
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      Omaha Office Building Investment

      Class A/B+ Office, Sale/Leaseback
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    • $600,000
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      First Floor Office Condo Available

      Office condo with open floorplan, greenspace view, and front parking.
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    Similar Nearby for Lease

    • $22 SF/Yr
      2,281 SF

      Charming Office Building with Signage

      Five-story office building with signage and updated common areas.
      10250 Regency Cir, Omaha, NE 68114
      View Details
    • $24 SF/Yr
      97,335 SF

      Class A+ Office Space

      Class A+ office space with unique features and lake views.
      450 Regency Parkway Dr, Omaha, NE 68114
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    • $25 SF/Yr
      13,773 SF

      Omaha Office Space For Rent

      Prominent office building in Omaha's Old Mill submarket.
      10825 Farnam Dr, Omaha, NE 68114
      View Details
    • $18 SF/Yr
      76,032 SF

      Executive Suites in Central Dodge

      Omaha Office Space: 5,000-9,047 SF Available
      1000 90Th St, Omaha, NE 68114
      View Details
    • $23 SF/Yr
      52,902 SF

      Executive Centre II: Omaha Office Space

      Modern Creative Office, 52,902 SF Available
      9101 Western Ave, Omaha, NE 68114
      View Details
    • $17 SF/Yr
      22,232 SF

      Omaha Office Space For Lease

      Class A Office, 3,776 SF Available
      10020 Nicholas St, Omaha, NE 68114
      View Details
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    7444 Farnam St
    Omaha, NE 68114-4629
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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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