The Omaha Commercial Real Estate Market

Omaha has long been a steady, reliable market with a diverse economy, a business-friendly environment, and room for smart growth. Today, the city continues to attract investors, tenants, and developers looking for lasting value. Whether you’re expanding your portfolio or securing space for a growing operation, Omaha offers a solid foundation for long-term success.

Every day, millions of users turn to Crexi to find commercial properties that match their goals. Thousands of brokers also rely on our tools to market listings, manage leads, and close deals with greater speed and efficiency.

At Crexi, we’re streamlining the commercial real estate process by bringing every part of the transaction into one powerful online platform. Since launching in 2016, we’ve helped brokers close more than $1 trillion in asset sales and leased 8.6 billion square feet in commercial space. As the fastest-growing online CRE marketplace, we’re proud to support Omaha’s commercial real estate community with the tools, transparency, and data they need to succeed.

The State of Commercial Real Estate in Omaha

Omaha stands out as Nebraska’s largest city and one of the Midwest’s most dynamic commercial hubs. Strategically positioned along the Missouri River, the city combines historic character with modern momentum, its evolving skyline anchored by landmarks like the First National Bank Tower and Woodmen Tower.

The local economy is as diverse as it is resilient. Omaha is home to global giants like Berkshire Hathaway, Union Pacific Railroad, and Mutual of Omaha, along with a growing ecosystem of tech startups, healthcare providers, and financial institutions. That mix of legacy industry and innovation continues to fuel demand across the CRE landscape.

As part of the broader Omaha–Council Bluffs metro, the city benefits from robust infrastructure and a strong logistics network, making it a vital connector for trade and transportation in the region. Steady population growth, ongoing development, and a supportive business climate have created fertile ground for commercial activity across asset classes, from revitalized neighborhoods to large-scale mixed-use projects.

Omaha Regional Breakdown

Omaha’s population continues to grow steadily, driven by a strong economy, livable neighborhoods, and a cost of living that remains below the national average. As the metro area approaches one million residents, its demographic profile and income levels point to a region that’s equal parts accessible and economically resilient. This ongoing growth lays the groundwork for an impressive variety of long-term commercial real estate opportunities.

• Omaha is home to more than 489,000 people in the city and nearly 985,000 people in the metropolitan area.
• The city has added over 80,000 residents since 2010, based on data from the most recent census.
• The Omaha-Council Bluffs metropolitan area includes the cities of Omaha, Bellevue, Council Bluffs, Fremont, and La Vista.
• The median age is 35.9, a little less than the overall figure in Nebraska, according to data from CensusReporter.org.
• Per capita income is $45,641, about 10% higher than the amount in Nebraska overall.
• Median household income in the Omaha, NE-IA Metro area is $81,376, which is slightly higher than the amount in the United States.
• The cost of living in Omaha is about 8% lower than the national average, with housing expenses nearly 20% less expensive than the U.S. average.

Omaha Job Market

Omaha’s economy combines long-standing strengths with steady forward momentum, thanks to major employers, infrastructure investment, and a growing pipeline of development. The city’s diverse industry base and consistent job growth continue to fuel opportunity across the metro.

• GDP for the Omaha-Council Bluff metropolitan statistical area is over $92.3 billion, an increase of more than 30% since 2020.
• Omaha is home to four Fortune 500 companies and three Fortune 1000 companies, including Berkshire Hathaway, Union Pacific, Mutual of Omaha, and Valmont Industries, according to regional data from the Greater Omaha Chamber.
• Omaha produces more than $52 billion in goods and services every year, establishing itself as a Midwest economic powerhouse.
• Major employers in the metropolitan area include Offutt Air Force Base, Nebraska Medicine, CHI, Methodist Health System, First National Bank, Mutual of Omaha, Fiserv, and Union Pacific Railroad.
• Unemployment rate in the Omaha metro area is 3.1% as of July 2025.
• Key industry sectors include agriculture, food processing, insurance, transportation, healthcare, and education.
• Omaha is home to more than $9 billion in new commercial real estate projects, including the Mutual of Omaha Tower, The RiverFront, The Mercantile mixed-use development, and a third Google Data Center. Redevelopment projects in Omaha include the Omaha Children’s Museum and a $950 million update for the Omaha Airport.
• The city of Omaha is often named on “Best of” lists, earning recognition for strengths such as work/life balance, top markets for first-time homebuyers, and a top city for young professionals.
• The Omaha area is home to three major institutions of higher education: the University of Nebraska at Omaha, Creighton University, and Metropolitan Community College.
• Nearly 43% of residents have a bachelor’s degree or an advanced degree, a rate about 20% higher than in the state.
• Omaha's transportation infrastructure includes major interstates I-80 and I-29, Eppley Airfield (one of the busiest in the state), and the Port of Omaha on the Missouri River for shipping activities.

Omaha Industrial Market

Market overview (Cushman & Wakefield Q1 2025 Omaha Industrial Report)

• Inventory: 109,386,652 SF
• Vacancy rate: 2.8%
• Net absorption: 542,042 SF (YTD)
• Deliveries: 0 SF
• Under construction: 4,424,518 SF
• Key leases by tenant: OTR Engineered Solutions (153,000 SF), Bunzl Distribution (80,814 SF), Pomp’s Tire Services, Inc. (32,536 SF)
• Largest submarkets: Sarpy West, South Central Omaha, Northeast Omaha

Crexi Insights

These are the most recent lease and sales trends from Crexi Insights (as of July 2025):

For Lease (active)

• Asking rate/SqFt (median): $10 per year
• Median SqFt/listing: 5,300
• Days on market: 207
• Total listings on Crexi: 160 spaces

For Sale (active)

• Median asking price: $2.6 million
• Price/SqFt: $121
• Asking cap rate: 7.3%
• Days on market: 100
• Total listings on Crexi: 44

Sales Comps (past 12 months)

• Median sold price: $800,000
• Sold price/SqFt: $92
• Total sales volume: $152.9 million
• Sold cap rate: 7.1%
• Median SqFt sold/transaction: 10,100
• Total SqFt sold: 2.5 million 
• Days on market (median): 148

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Omaha Office Market

Omaha’s office market is balancing steady demand for modern, high-quality space with the realities of elevated vacancy and evolving tenant needs. Leasing activity has stayed active, with notable move-ins helping to offset larger vacancies across some submarkets. Class A space is still a top priority for many tenants, driving interest in newer buildings with strong amenities. 

Market overview (Cushman & Wakefield Q2 2025 Omaha Office Report)

• Inventory: 26,106,907 SF
• Vacancy rate: 13%
• Net absorption: -42,823 SF (YTD)
• Under construction: 116,000 SF
• Key leases by submarket: Marble, Inc. (18,000 SF), IAT Insurance Group (10,848 SF), Bloomwell (9,750 SF)
• Largest submarkets: Downtown, Suburban West Dodge, Southwest, Midtown

Crexi Insights

For the latest updates on the office market in Omaha, turn to Crexi Insights. Here is the detailed information on the recent sales and leasing trends as of July 2025:

For Lease (active)

• Asking rate/SqFt (median): $10 per year
• Median SqFt/listing: 5,300 SF
• Days on market: 207
• Total listings on Crexi: 160 spaces

For Sale (active)

• Median asking price: $2.6 million
• Price/SqFt: $121 
• Asking cap rate: 7.3%
• Days on market: 100
• Total listings on Crexi: 44

Sales Comps (past 12 months)

• Median sold price: $1 million
• Sold price/SqFt: $124
• Total sales volume: $99.1 million
• Sold cap rate: 8%
• Median SqFt sold/transaction: 10,500 SF
• Days on market (median): 178

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Omaha Retail Market

Evolving in step with the city’s growth, Omaha’s retail market is driven by a mix of rising population, lifestyle-focused development, and steady tenant demand. Space in key submarkets doesn’t sit empty for long, and new builds are often spoken for before they’re finished. With more mixed-use projects underway and retailers looking to meet shifting consumer expectations, Omaha continues to promise strong momentum and long-term opportunity.

Market overview (Colliers Q1 2025 Omaha Retail Report)

• Inventory:  24,338,600 SF
• Vacancy rate: 5.7%
• Net absorption:  -13,000 SF (YTD)
• Under construction: 305,700 SF
• Key leases by tenant (Q4 2024): Guitars & Cadillacs (11,257 SF), Dogtopia (8,132 SF), Riddles (6,226 SF)
• Largest retail submarkets: Southwest Omaha, Sarpy East, Central

Crexi Insights

Lease and sales trends from Crexi Insights (as of July 2025):

For Lease (active)

• Asking rate/SqFt (median): $18 per year
• Median SqFt/listing: 2,014 SF
• Days on market: 350
• Total listings on Crexi: 606 spaces

For Sale (active)

• Median asking price: $1.7 million
• Price/SqFt: $177
• Asking cap rate: 6.8%
• Days on market: 125
• Total listings on Crexi: 78 

Sales Comps (past 12 months)

• Median sold price: $700,000
• Sold price/SqFt: $139
• Total sales volume: $87.9 million
• Sold cap rate: 7%
• Median SqFt sold/transaction: 4,073 SF
• Days on market (median): 147

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Omaha Multifamily Market

Omaha’s multifamily market is holding strong, even as vacancy inches up and the pace of construction picks up. Rents are still climbing steadily, thanks to consistent demand and a growing number of modern, well-located communities. With development active across several submarkets, renters have more choices, and investors are watching closely. It’s a market that continues to evolve, offering opportunity on both sides of the rental lease.

Market overview (CBRE Omaha Multifamily Figures Q2 2025)

• Total housing units: 418,309
• Multi-unit inventory: 84,594 units
• Vacancy rate: 6.2%
• Average asking rent: $1,285
• Annual rent growth: 3.4%
• Units delivered: 1,351
• Under construction: 3,380 units
• Notable sales: Aventine at Wilderness Hills (220 units), The Apartments at Gold Coast (176 units), 706 & 707 Golden Gate Circle (72 units)
• Largest submarkets: Central, Southwest, North/Northwest

Crexi Insights

Here are the most recent Multifamily Insights from Crexi (as of July 2025):

For Sale (active)

• Median asking price: $1.1 million
• Price/SqFt: $155
• Asking cap rate: 7%
• Days on market: 65
• Total listings on Crexi: 35

Sales Comps (past 12 months)

• Median sold price: $372,000
• Sold price/SqFt: $83
• Total sales volume: $87.5 million
• Sold cap rate: 7.8%
• Total SqFt sold: 1.6 million
• Days on market (median): 126

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Get more in-depth Omaha market data with Crexi Intelligence.