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    Property profile & analytics

    9939 Redick Cir Omaha, NE 68122

    • Strip malls
    • 22,000 SF
    • 2.30 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Jun 24, 2022
    $3,600,000
    Value Estimations
    $4,105,000
    Cap Rate Potential
    8.7%
    Strip malls
    Location Intelligence
    Property ID
    US57-0191248
    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

    • Tasty Thai / Thai Restaurant

    Property Details for 9939 Redick Cir

    Year built
    2004
    Lot size
    2.30 lot acres
    Property size
    22,000 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    2245254691
    APU
    2245254691

    Description

    This exceptional 22,000 square foot retail strip center, built in 2004, presents a fantastic opportunity for businesses seeking high-visibility locations. Currently, 4,600 square feet of move-in-ready space is available, divisible into units ranging from 2,000 to 2,600 contiguous square feet. The property boasts a desirable end-cap location with the potential for a drive-thru, a significant advantage for many retail operations. The center enjoys a strategic position at the intersection of I-680 and Blair High Road (Nebraska Highway 133), ensuring excellent interstate visibility and high traffic counts. This prime location benefits from a strong anchor tenant, Walmart, and is complemented by established businesses such as Dollar Tree, Verizon, and CATO clothing store. The property features a single, one-story building with new flooring throughout, making it an attractive option for immediate occupancy. The space is ideal for a variety of retail uses and offers significant potential for growth and success. Don't miss this chance to secure a prominent retail presence in a thriving Nebraska market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,510,000
      ML approach
      $3,500,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,070,000
      6.5%
      $4,680,000
      7%
      $4,345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,737,000
      Market price range: $2.00M - $5.91M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,110,000
      Current use
      RETAIL STORES
      $3,440,000
      Change: -16% Conversion: Easy
      MEDICAL BUILDING
      $3,320,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Omaha
    County
    Douglas
    State
    Nebraska
    Longitude
    -96.0686
    Latitude
    41.3178
    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
    $350,900
    $3,014,000
    $3,364,900
    -
    $350,900
    $3,014,000
    $3,364,900

    Comparable in this City

    • Value Estimation
      $425,000
      18,666 SF

      7002 102nd Cir

      SHOPPING CENTER, STRIP CENTER • 18,666 SF
      7002 102nd Cir, Omaha, NE 68122-3057
      View Details
    • Value Estimation
      $490,000
      13,952 SF

      6922 102nd Cir

      SHOPPING CENTER, STRIP CENTER • 13,952 SF
      6922 102nd Cir, Omaha, NE 68122-3056
      View Details
    • Value Estimation
      $280,000
      6,000 SF

      7110 102nd Cir

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      7110 102nd Cir, Omaha, NE 68122-3059
      View Details
    • Value Estimation
      $350,000
      9,060 SF

      7040 102nd Cir

      SHOPPING CENTER, STRIP CENTER • 9,060 SF
      7040 102nd Cir, Omaha, NE 68122-3057
      View Details
    • Value Estimation by Request

      72 & Sorensen Pkwy

      Lifestyle centers
      0 72 & Sorensen Pkwy, Omaha, NE 68122
      View Details
    • Value Estimation
      $1,065,000
      126,372 SF

      6636 73rd Plz

      WHOLESALE OUTLET, DISCOUNT STORE • 126,372 SF
      6636 73rd Plz, Omaha, NE 68122-1794
      View Details

    Similar Nearby for Sale

    • $495,000
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      Omaha Restaurant - $495,000

      Historic Florence eatery, billboard income.
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    • $54,500
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      Omaha Residential Duplex Lot

      Duplex lot available in Omaha, located on a cul-de-sac.
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    • $575,000

      Land Available in Omaha, NE

      Land for sale at 9615 Redick Ave, Omaha, NE.
      9615 Redick Ave, Omaha, NE 68122
      View Details
    • $74,500
      0.27 Acres

      Residential Lot in Omaha, NE

      Large residential lot suitable for duplex or triplex development.
      7021 N 79Th Ct, Omaha, NE 68122
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    • $2,100,000
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      Omaha Commercial Land - $2.1M

      22.59 Acres, Prime Development Site
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    • $750,000
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      1.55 Acres, General Industrial Zoning, High Visibility
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    Similar Nearby for Lease

    • $18 SF/Yr
      22,000 SF

      STARWOOD Retail Center - Nebraska

      Prime Retail Space, Walmart-Anchored
      9939 Redick Cir, Omaha, NE 68122
      View Details
    • $18 SF/Yr
      2,000 SF

      Retail Space in Walmart Anchored Center

      2,600 SF retail space available in Walmart-anchored shopping center.
      9939-9959 Redick Cir, Omaha, NE 68122
      View Details
    • $10 SF/Yr
      1,800 SF

      Retail Space in Growing Area

      Retail property with various sizes available in a growing area.
      7110 N 102Nd Cir, Omaha, NE 68122
      View Details
    • $12 SF/Yr
      3,214 SF

      Retail Space Available For Rent

      Retail spaces with various square footage options available for rent.
      7002 N 102Nd Cir, Omaha, NE 68122
      View Details
    • $18 SF/Yr
      22 SF

      Retail Space with Drive-Thru Potential

      Move-in-ready retail space in Walmart-anchored strip with drive-thru potential.
      9939 Redick Cir, Omaha, NE 68122
      View Details
    • $14 SF/Yr
      9,400 SF

      Retail Space Available For Lease

      9,400 SF retail space for lease in Omaha, Nebraska.
      6636 N 73Rd Plz, Omaha, NE 68122
      View Details
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    9939 Redick Cir
    Omaha, NE 68122
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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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