774 Olson Dr Papillion, NE 68046-4851
- Office buildings
- 7,439 SF
- 1.65 lot acres
Current Use by Public Records
- Office buildings
Property Details for 774 Olson Dr
- Year built
- 2014
- Lot size
- 1.65 lot acres
- Property size
- 7,439 SF
- Property type
- Office buildings
- APN
- 11594876
- APU
- 11594876
Description
This exceptional 9,237 square foot retail property, located at 774 Olson Drive in Papillion, Nebraska, presents a compelling investment opportunity. Built in 2014, this single-story building sits on a 0.82-acre lot and boasts a prime location just off Highway 370, between 72nd and 84th streets, a high-traffic area with approximately 43,000 vehicles per day. Currently, the property is 76% occupied by Berkshire Hathaway Home Services, with a lease term of approximately seven years remaining. This leaves 2,244 square feet available for lease to another tenant or for owner-occupancy. The asking price is $2,500,000, representing a price per square foot of $270.65. The current Net Operating Income (NOI) is $142,554, yielding a 5.70% cap rate. However, a pro-forma NOI of $212,533 projects a significantly higher 8.50% cap rate, highlighting the value-add potential. The property features a drive-thru and prominent pylon signage, ensuring high visibility. Its adjacency to Shadow Lake Towne Center, a major shopping destination with over 70 retailers, further enhances its desirability. The property is zoned for retail and office use, offering flexibility for various business types. This is a rare opportunity to acquire a well-located, partially leased retail building with significant upside potential in a thriving Nebraska market. Consider this property for lease or sale.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,285,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,345,000
- 6.5%
- $2,510,000
- 7%
- $2,070,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,550,000
- Geo Method
- $2,460,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,925,000
- Retail
- $2,405,000
- Mixed-Use
- $2,490,000
- Hospitality
- $2,360,000
- Educational
- $2,405,000
- Residential Income
- $2,180,000
- Energy
- $2,350,000
- Income-Based Land
- $2,500,000
- Food Service
- $2,600,000
Location Insight
- Map
- Local Demand
- City
- Papillion
- County
- Sarpy
- State
- Nebraska
- Longitude
- -96.0316
- Latitude
- 41.1387
- CBSA code
- 36540
- CBSA name
- OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA
