Oak Leaf Development
Oak Leaf Pad Sites - Join 600+ Multi-family units and 400+ single family homes in Papillon
Marketing description
Oak Leaf is set to become the largest mixed-use real estate development in Sarpy County. The project aims to create a vibrant and dynamic community that offers a blend of residential, commercial, and educational opportunities, catering to the growing needs of Papillion, Nebraska. The project spans over 230 acres, strategically located at the southeast corner of 72nd Street and Capehart Road in Papillion, Nebraska. Traffic counts at this intersection are at about 9500 VPD.
This mixed-use development encompasses residential, commercial, and educational components which will include approx. 500 single-family homes , 611 multi-family units in various configurations, including townhouses, flats, duplexes, and single-family rentals and 800,000 square feet of commercial space across twelve pads. The development will feature a dedicated site for an elementary school, ample green spaces, and a diverse range of retail, dining, entertainment, and office spaces.
The submarket has also achieved 84,000 SF of positive absorption and 22,000 SF of net deliveries over the past year, demonstrating strong demand for retail space. Rents in the Sarpy East retail submarket have risen by 4.8% in the past 12 months, reaching approximately $17.60/SF, a trend that is expected to continue given the lack of new construction. The total retail inventory in Sarpy East amounts to 7.5 million SF, with a diverse range of asset classes including general retail buildings, malls, power centers, and neighborhood centers.
Investment highlights
• Prime visibility at the signalized intersection of 72nd Street & Capehart Road, a major commuter corridor serving Offutt Air Force Base and surrounding residential growth.
• Affluent trade area with a median household income of $158,532 within 1 mile.
• Flexible pad sites available with strong leasing momentum, including a pending contract on a portion of Lot 378 and Lot 2
• Immediate customer base with 500+ single-family homes, 600 multifamily units, and a new Springfield elementary school planned on-site, creating an estimated 2,700+ residents, students, and faculty within the development.
• Lower tax burden with a 1.995709 mill levy, below comparable surrounding communities including Papillion, Bellevue, Gretna, and La Vista.
• Located within one of the fastest-growing corridors in the Omaha metro, offering a rare opportunity for retail, restaurant, medical, and service users.
• Pad sites available for immediate development.
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