Retail

Service Life Building

service life building, omaha, NE 68102

Price

Price on request

Market rate estimate — not broker-provided

Cost-of-Business Details

Very Low Confidence

Low

$157.25/SF

Mid

$185.00/SF

High

$212.75/SF

Tier Used

peer_city_transfer

Transferred from peer market chicago (similarity: 100%) with 10 comparable listings.

Peer market: chicago (100% similarity)

Tier Resolution Trace

Tier 1insufficient_data

Tier 2insufficient_data

Tier 3insufficient_data

Tier 4successselected

Cost Breakdown

Component	Value	Detail	Source
Base Rent	$185.00/SF	—	peer_city_transfer
Utilities	—	3.9¢/kWh	OpenEI URDB
Property Tax	—	0.0% eff. rate	API Ninjas
Labor Index	—	$1301/wk	BLS QCEW

Source Provenance (1)

Source	Type	Count	Year	Freshness	Peer
Peer City Transfer	economic_similarity	10	—	real-time	chicago (100%)

Data sources used

peer_city_transfer

Description

Historic Service Life Building For Lease Designed by the architectural firm of John Latenser and Sons and built in 1927 by Kiewit Brothers construction company, the historic Art Deco-style Service Life Building is one of Omaha’s downtown historic landmarks, designated in March 27, 1984. Originally the Union State Bank building, the building’s use has primarily been office over the last nearly 100 years. In June 2024 (with estimated completion of September 2025), the property undertook a $25MM development of 54 residential units and 5,000 SF commercial consisting of two office suites and new breakfast/lunch restaurant concept.

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

service life building, omaha, NE 68102

Leaflet © OpenStreetMap contributors

Market Context

As of Q4 2023, the Omaha retail market showed average asking rents near $19.40/SF/yr, and rents up 4.2% year over year. Source: multiple brokerages Q4 2023 market report.

Projected current pricing

low confidence

Projected asking rent

$19.40/SF/yr

Estimated sale value

$160–$202/SF

Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q4 2023 multiple brokerages data (cap rate 7.3%, asking rent held flat).

View the full Omaha Retail market report →

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Compare it against other retail listings for sale in Omaha, NE to benchmark pricing and space — view the full market.

Unified Estimate

Very Low Confidence

$45.82/SF-$61.99/SF

Mid: $53.90/SF

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market chicago (similarity: 100%) with 10 comparable listings.