Overview

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.
Subject
The building is located at 1414 Harney Street and is a four story plus full basement structure that serves as both a parking garage and for additional retail and office. The structure consists of a pre-cast concrete panels and flooring. Exterior walls are pre-cast concrete sandblasted finish with wall heights varying from ten to fourteen feet. Windows are fund on both the south and east elevations of the building which gives the structure the appearance of being a large office building as opposed to a parking garage.
The building has a calculated gross size as follows:
Level Gross SF Parking Stalls
Basement 20,024 53 Parking stalls
Main Level 20,344 12 Parking stalls plus drive way
Second Level 19,960 54 Parking stalls
Third Level 19,960 54 Parking stalls
Fourth Level 19,960 30 Parking stalls
Gross above grade 80,224
Gross w/Basement 100,248 202 Parking Stalls

The building’s main level consists of two retail bays having respective sizes of 4,000 sf and 2,178 sf. The larger bay on the south side is owned by American National Bank. The smaller bay located on the north side is occupied by a restaurant.
The basement, second and third levels of the building are entirely devoted to parking. There is a skywalk connected to the third level which leads directly into the residential condominium units in the north building
The fourth level has two office condominiums (the subject) on the south side of the structure and parking on the north side of the structure.
Units 440 and 450
Unit 440 contains approximately 3,890 net square feet and consists of nine private offices, an open work area, conference room and kitchen area. Finishes throughout Unit 440 are of good to high quality materials.

Layout of existing space
Unit 450 contains approximately 5,346 approximate net square feet and consists of 13 private offices, an open work area, conference room, and kitchenette area. Finish is of good quality and was completed in 2012 at a cost of over $250,000 for both units.

All utlities except water are individually metered, each level of the building is accessible by elevator as weell by two internal stairwells. The elevator is accessible from a central common area hallway which has its entrance on Harney Street. Card reader access is functional to get to the units after hours.
The site is rectangular in shape (165 along Harney and 132 feet along 14th Street. The site is level and on grade with adjoining streets. Site has access from each adjoining street. The property is within the City of Omaha’s zoning jurisdiction and is zoned CBD – central business district, which allows a broad variety of residential, retail, office and mixed use projects. Property is located in a Zone X flood management area which is an area outside of the boundaries of a 100 year floodplain. No potential flooding threat appears to exist for the property.
Adjacent Properties
North – An additional phase of the Paxton Condominiums, W. Dale Clark Library
South - Various older occupied commercial building

Highlights

• Class A Interior located within a great constructed facility. Great exposure. Secure and no outside noise distractions.
• Great Location - literally walk to all shops within the Historic Old Market and other services.
• Exclisive Ownership of 26 surface parking stalls on fourth floor for this Suite.
• Controlled security card access to elevator and Suite
• Personal Property (High Quality furnishings, (desks, conference tables, chairs, etc.)) may be acquired or negotiated.
• Great for Investor, Owner user or multi-tenant.

Documents

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