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Property profile & analytics
OFF-MARKET
Estimated value
$18,965,000
Apartment buildings
8141 Farnam Dr Omaha, NE 68114-4462
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US57-0053490
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1997
Construction
FRAME
Total area
155,493 SF
Lot
5.11 ac (222,592 SF)
APN
1037780472
UPID
US57-0053490
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
-
Arboretum On Farnam Drive Retirement Community
-
Immanuel Arboretum Village Retirement Community Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$19.28M
Comparable Approach
Comparable
$22.36M
Blend (final)
Blend
$18.97M
Owner & transaction history
Irc II INC · 10 yrs held
Irc II INC
since 2016
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$29.1M
+71.2%
Retail stores
$24.3M
+43.2%
Medical building
$23.5M
+38.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$20,885,000
6.5%
$19,280,000
7%
$17,900,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$16,965,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$29,050,000
Change: +71% · Conversion: Difficult
RETAIL STORES
$24,295,000
Change: +43% · Conversion: Difficult
MEDICAL BUILDING
$23,485,000
Change: +38% · Conversion: Moderate
AUTO REPAIR, GARAGE
$23,075,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$21,785,000
Change: +28% · Conversion: Moderate
OFFICE BUILDING
$17,295,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$18.97M
Range $17.07M – $20.86M · ±10%
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
$122 / 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
$658,566
Tax year 2023
Assessed value
$32,290,100
Assessed 2023
Previous assessed
$32,290,100
+0.0% YoY
Effective rate
2.04%
On assessed value
Assessed land
$1,376,800
Assessed improvement
$30,913,300
Land market value
$1,376,800
Improvement market value
$30,913,300
Total market value
$32,290,100
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1997
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
3
Units
88
Rooms
88
Total area
155,493 SF
Lot
5.11 ac (222,592 SF)
APN
1037780472
UPID
US57-0053490
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
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$17.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$29.1M
RETAIL STORES
Est. value
$24.3M
MEDICAL BUILDING
Est. value
$23.5M
AUTO REPAIR, GARAGE
Est. value
$23.1M
COMMERCIAL (GENERAL)
Est. value
$21.8M
OFFICE BUILDING
Est. value
$17.3M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
2
Units
88
Rooms
88
Lot
5.11 ac
Current owner
From public records · entity-resolved
Irc II INC
Entity
Mailing address
1044 N 115TH ST STE #500, OMAHA, NE 68154-4410
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 12, 2016
—
Irc II INC
—
Grant Deed
related
$17,000,000 · Wells Fargo Bk
Jun 21, 2016
$29,600,000
Irc II INC
8141 Farnam Drive LLC
Grant Deed
—
—
—
8141 Farnam Drive LLC
—
Loan Modification
related
$17,500,000 · Core Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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