The Jamison Condominiums
Multi-family Condo Community
FOR SALE
Unpriced
1001 Park Avenue
Omaha, NE 68105
Investment Summary
The Jamison Condominiums at 1001 Park Avenue, Omaha, NE, offer a rare opportunity to restore and reimagine a historic property in a thriving urban neighborhood. Originally built in 1885 and 1896, the Victorian-style building underwent a major redevelopment in 1981, including updated plumbing and electrical systems. In 2010, it was renovated with new finishes as part of a condo conversion, blending modern updates with its original character. After years of buying back individual units, the owner had planned to revitalize the property, but now, ready to move on, is seeking a new investor to take the project across the finish line.Now vacant and in need of renovation, this 15-unit community retains stunning architectural details like exposed brick, skylights, mezzanine bunks, hidden rooms, and oversized original finishes, alongside newer improvements from prior renovations. The Seller also owns 18,480 SF of developable land across the alley, perfect for additional development or parking to support the Jamison. The property is individually metered for gas and electric, while water/sewer costs can be billed back through the existing condo regime. Located in a Community Redevelopment Area (CRA) and Extremely Blighted Area (EBA), it also qualifies for redevelopment incentives.Investors can renovate and operate as a rental, sell units as condos, or convert the property into townhomes with built-in rental income. With Omaha’s market surging, fueled by the $600M Mutual of Omaha HQ, $3.1B UNMC Project NExT, and the upcoming streetcar expansion, The Jamison is a one-of-a-kind opportunity to transform a historic landmark into a high-value asset.Investment Strategy
Renovate and Develop
Investors can modernize interiors, enhance common areas, and restore the property’s historic Victorian charm to reposition it as a high-end rental or resale asset. Additionally, with 18,480 SF of developable land across the alley, there’s potential for new construction or parking, further increasing the property’s value and functionality.Apartment Community
A buyer will own 100% of the condo units, providing the flexibility to operate the property as a traditional multifamily asset with long-term rental income. Alternatively, the distinctive Victorian character of the building and its prime urban location make it an excellent candidate for San Francisco-themed short-term rentals.Condo Resale
The Omaha condo market remains strong, with 10 condo and townhouse sales in the past six months in the 68105 zip code. These properties sold for an average price of $305,166 at $208.78 per square foot, with an average unit size of 1,317.4 SF. Investors can renovate and sell units individually, capitalizing on the demand for affordable, stylish condos in a walkable, amenity-rich neighborhood.Townhouse Resale
The Jamison’s multi-level condo units can be strategically packaged and marketed as townhomes, appealing to homebuyers seeking more space. Investors can sell these as townhomes with lower-level rental units, creating an income-producing opportunity for new owners, increasing overall sale prices, and expanding the buyer pool to both investors and owner-occupants.
DISCLAIMER AND CONFIDENTIALITY AGREEMENT
This document and the information contained herein regarding the commercial real estate property (hereafter referred to as “the Property”) is provided by BARON, P.C., and its affiliates (collectively, “the Broker”). This document serves as both a disclaimer and a confidentiality agreement intended for the recipient (hereafter referred to as “the Recipient”).
1. Nature of Information: The information provided in this document is intended solely for evaluating the potential acquisition of the Property. It is confidential and should not be disclosed to any third party without the express written consent of BARON, P.C. The Recipient agrees to keep the information strictly confidential and to use it only for the purpose as stated above.
2. No Representation or Warranty: While every effort has been made to ensure the accuracy and completeness of the information, BARON, P.C., David Carrig, John Carrig, and any other affiliated broker or salesperson make no warranty or representation, express or implied, regarding the accuracy, completeness, or reliability of the information. The Recipient acknowledges that they must perform their own due diligence, verifying all information and conducting an independent investigation into the financial, legal, and physical aspects of the Property.
3. No Liability: BARON, P.C., its agents, and affiliates, including David Carrig and John Carrig, shall not be liable for any errors, omissions, or inaccuracies in the information provided, nor for any decisions made or actions taken in reliance on such information by the Recipient. The Recipient agrees to hold harmless BARON, P.C., its agents, and affiliates from any claims or damages resulting from the use of this document or the information contained herein.
4. Offer and Acceptance: Submission of an offer by a prospective buyer does not obligate the Owners to accept such offer. The Owners reserve the right, at their sole discretion, to accept or reject any offer based on various factors including but not limited to price, terms, purchaser’s experience, financial health, and track record.
5. No Commission or Finder’s Fee: No commission or finder’s fee related to the sale of the Property shall be payable to any party unless otherwise agreed to in writing by the Owners. Any compensation due to a buyer’s broker shall be borne by the purchaser.
6. Legal and Tax Advice: The Recipient is advised to seek independent legal, tax, and financial advice. This document and the information contained herein should not be considered a substitute for professional advice regarding the potential acquisition, ownership, and consequences thereof.
7. Intellectual Property Rights: All trademarks, service marks, logos, and photographs contained in this document are the property of their respective owners. Unauthorized use of these materials without express written consent is prohibited.
8. Acknowledgement: By receiving and reviewing this document, the Recipient acknowledges and agrees to the terms outlined in this Disclaimer and Confidentiality Agreement.