Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100 percent fee simple interest in the Old Mill Centre (“The Property”), – a 75,089 square-foot Neighborhood Center comprised of four buildings, situated on 6.15 acres of land in Omaha, Nebraska. The Property is anchored by GSA - Social Security Administration, who recently executed a 15-year firm term renewal at the Property through 2036. The core tenant group also includes four Med-Tail tenants, as well as several restaurants and service-oriented retailers. The Property is 67 percent occupied providing a true value-add opportunity for investors. Leasing the eight vacant suites would drive the NOI up to more than $920,000 and drive the value of the Property North of $12,000,000. This would allow an investor to receive annual cash-on-cash returns of more than 20 percent, or an IRR on a three-year hold period of more than 50 percent. Offered for sale at just $104 per square foot, the Property is offered at a deep discount to comparable neighborhood strip centers across Omaha. The Property features visibility and immediate access to W Dodge Rd which is one of the largest thoroughfares in Omaha with more than 110,000 Vehicles Per Day. Situated at the interchange of I-680 (137,000 VPD) and W Dodge Rd (110,000), the Property has convenient access to the entire MSA and is surrounded by more than 250,000 residents in a five-mile radius. The Property is offered free and clear of debt at a $104 PSF totaling $7,810,000.