5619 204Th StOmaha, NE 68135

For Sale
$2,973,000

Omaha, NE medical office building, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 4,331 square foot Class A medical office building in Omaha, Nebraska. The property is located at 5619 S 204th St, Omaha, NE 68135, within Douglas County, and boasts a prime location in a rapidly growing area. Currently 100% occupied by Heartland Dental, a leading dental support organization with over 1,700 locations and $1.2 billion in 2022 revenue, under a Net Lease (NN) agreement. The 10-year lease commenced April 17, 2023, and has a remaining term of approximately 8.4 years, expiring April 30, 2033. The lease includes a corporate guarantee and provides for 10% rental increases every five years, including option periods, minimizing landlord responsibilities. The asking price is $2,973,000, representing a price per square foot of $686.45 and a 6.25% cap rate based on a Net Operating Income (NOI) of $185,799. The building, constructed in 2023, sits on a 1.1-acre lot and is surrounded by new residential and retail developments, reflecting the area's significant growth. Omaha's robust economic climate, with a 2% population growth over the past two years and a 13% increase since 2000, further enhances the investment potential. Douglas County's 9.2% GDP growth in 2022 underscores the region's economic strength. The surrounding area includes over 1,100 multi-family units within a one-mile radius, with additional units under construction, and significant new retail development with zero vacancy. This property offers a compelling combination of a strong tenant, favorable lease terms, and a location in a high-growth market.

Highlights

  • Favorable lease terms with minimal landlord responsibilities and a corporate guaranty from Heartland Dental.
  • Strong corporate guarantee from Heartland Dental, the nation's largest dental support organization, boasting over 1,700 locations and $1.2B in 2022 revenue.
  • High-growth Omaha MSA; Omaha, NE experienced ~2% population growth in the last two years and 13% since 2000, with Douglas County's GDP surging 9.2% in 2022.
  • Booming Omaha suburb with over 300 multi-family units delivered within a 1-mile radius in the past year (totaling ~1,100 units), plus 245 more under construction; Over 10,000 SF of new retail delivered, with another 12,500 SF under construction and 0% vacancy.

Property Details for 5619 204Th St

Property type
Other office properties, Medical offices
Square Feet
4,331 SF
Class
A
Year Built
2023
Buildings
1
Lot Size (sq. ft)
47,916 SF

Location Insight

City
Omaha
County
Douglas
State
Nebraska
Latitude
41.20066782796
Longitude
-96.236641446127
5619 204Th St, Omaha, Nebraska

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5619 204Th St
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