Paxton Professional Center | Investment or Owner User

Highlights:

• Beautiful Class A Interior
• Great Location
• Use of 26 surface parking stalls on fourth floor
• Controlled elevator access

Description:

The property is bounded with Interstate 680 to the North, Dodge Street to the immediate North, and Interstate on & 680 to the North and West and the Missouri river to the East. The primary east/west thoroughfare and (North/South) dividing line is Dodge Street. All arterials mention is major four to six lane street routes within access to all points of the Omaha Metro area.

The subject is zoned CBD (Central Business District) under Omaha’s jurisdiction. The CBD is designed to provide appropriate development regulations for downtown Omaha. Uses within the area are permitted in downtown Omaha which are consistent with the future development and revitalization of the city’s core. Mixed uses are allowed and encouraged within the CBD. The surrounding land use in the area is comprised of commercial properties with intensive retail, office uses along the major intersections’ of the arterial roadways.

The main roads in the area include 10th Street, 14th Street 16th Street, Farnam, Harney, and Dodge Streets. These are mostly four lane one way and two way streets, serving the downtown area.

General Description
The subject property is part of a mixed use project that incorporates a variety of residential, retail and condominium units together with a new parking structure to support the improvements. The entire project involved total renovation of an existing twelve story building (Paxton Building) and construction of a new four story building south of the existing building.

The existing (original) building has been renovated into 58 residential condominium units on levels three through twelve, four main level retail/office condominiums, ten second floor office condominiums and a ballroom condominium.

The new building has two main level retail/office condominium bays and two fourth level (subject) office condominiums along with a total of 202 parking stalls. Each condominium unit along with the parking stalls is a separate legal entity and is deeded in fee title along with an undivided interest in the common area elements.

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