1015 N. 16th Street
Property Description
IN-PLACE RESIDENTIAL RENTS TRAIL SURROUNDING NEW-CONSTRUCTION COMPARABLES BY A MATERIAL MARGIN Average in-place rents at Nichol Flats sit below the asking rents of the five directly comparable, recently delivered communities within 0.3 miles. All five comps are operating at 89% occupancy or above as of the most recent submarket survey, validating market-level demand for higher rent points. Closing the gap is a buyer's strategic decision as the path may combine systematic renewal pricing discipline, selective unit refresh at turnover, common-area or amenity investment, or a more comprehensive repositioning, sized against renovated-comp evidence and project-level return targets. ACTIVE TIF REIMBURSEMENT AGREEMENT WITH NO AFFORDABILITY COVENANTS OR RENT RESTRICTIONS The property carries an active TIF Redevelopment Loan Agreement that produces recurring annual tax reimbursements. The agreement carries no AMI income limits, no rent restrictions, no affordability covenants, and no resale price covenants, so operations are entirely unconstrained by the structure. Approximately four years of reimbursements remain (exact remaining term to be confirmed with the City of Omaha). READY TO LEASE GROUND-FLOOR COMMERCIAL SPACE OF ~5,680 SF The first-floor commercial space is divisible into two suites of approximately 1,445 SF and 4,235 SF, with two separate street-level entrances, rear access to the gated parking area, and 9-foot ceilings. Surrounding commercial activation, including 60-plus tenants in Millwork Commons, four adjacent hotels, and the Cuming Street F&B corridor, validates retail and service-tenant demand in the immediate area. Any future commercial lease produces income incremental to residential operations. 2016 CONSTRUCTION BY A LOCAL DEVELOPER WITH ACTIVE HOSPITALITY AND RESIDENTIAL PORTFOLIO Nichol Flats was developed by Anant Enterprises, an Omaha-based hospitality and real estate operating company. Anant has developed and operates a portfolio of hotels under IHG (Holiday Inn, Holiday Inn Express, EVEN Hotels) and Marriott (Fairfield Inn & Suites, Aloft) flags across multiple Midwestern markets, with three branded properties in downtown Omaha alone.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 68 |
| Year Built: | 2016 |
| Opportunity Zone: | No |
| Property Website | Click Here |
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