Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    837 837Th Rd Norfolk, NE 68701

    Sponsored
    For Sale
    $1,799,845

    Vacant Land - Norfolk, NE

    Lot size:
    201.00 Acres
    Days on Market:
    11
    Last Refresh:
    Feb 20 at 3:06 am

    Property Features for 837 837Th Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Parking features
    Garage
    Lot size
    201.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeff Moon
    Jeff Moon

    AgWest Land Brokers (308) 995-8067

    Listing agent Jeff Moon (308) 995-8067

    Listing date Feb 10, 2026

    MLS# 11652401 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Norfolk Vacant Land with Irrigation

    This nearly flat parcel near Norfolk, NE, features significant tiling work and good access via a county road to the east and a hard surface road to the north. Ample water is available to supply the near-new 7-Tower Zimmatic center pivot, J Line pump, and 75hp US Electric motor. There is also an opportunity to add an additional pivot on the north end of the parcel, which has certified irrigated acres as per the Lower Elkhorn NRD. The property is located in the Elkhorn NRD and includes 189.6 certified irrigated acres. The parcel totals 201.1+/- acres per assessor, including 142.55+/- irrigated acres, 41.92+/- dryland acres, 11.33+/- grassland acres, and 5.30+/- other acres. Well G-139518 was drilled in 2003 and yields 1,000 GPM, with a 47' static level, 100' pumping level, and 130' well depth. FSA information indicates 194.76 total cropland acres, including 150.3 base acres for corn with a 129 PLC yield, and 4 base acres for grain sorghum with a 64 PLC yield, totaling 154.3 base acres. With numerous competitive grain markets in the area, this makes for an ideal farm. The property will be open for the 2026 season. Property taxes for 2025 are $9,578. Legal Description: Pt E 1/2, 23-23-1, Madison County, NE.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Norfolk
    County
    Madison
    State
    Nebraska
    Longitude
    -97.392404
    Latitude
    41.955537

    Nearby Similar for Sale

    • $3,588,950
      401.00 Acres

      Irrigated Farmland Opportunity Near Norfolk, NE

      Productive farmland with irrigation potential, open for the 2026 season.
      837 837Th Rd, Norfolk, NE 68701
      View Details
    • $235,000

      Zero Entry Townhome with Garage

      Two-bedroom, two-bath townhome with zero entry, two-car garage.
      906 Janet Ln, Norfolk, NE 68701
      View Details
    • Contact for pricing
      228,882 SF

      Norfolk Industrial Property - 228,882 SF

      Prime Nebraska industrial space; flexible lease terms.
      1600 Pine Industrial Rd, Norfolk, NE 68701
      View Details

    FAQs

    What type of property is this?
    Farm - 201 acre parcel near Norfolk, NE with irrigation.
    Where is this farm located?
    The property is located at 837 837Th Rd Norfolk, NE.
    What is the asking price?
    The asking price for this property is $1,799,845.
    What are key features of this property?
    This property features: - 142.55+/- Irrigated Acres with ample water supply from a well drilled in 2003.; - Opportunity to add an additional pivot on the north end with 189.6 certified irrigated acres.; - Good access with a county road to the east and a hard surface road to the north.
    (308) 995-8067
    Request Owner's contact information
    837 837Th Rd Norfolk, NE 68701
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    837 837Th Rd
    Norfolk, NE 68701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    837 837Th Rd Norfolk, NE 68701
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeff Moon
    Jeff Moon
    Real Estate License ID: 20171092
    (308) 995-8067
    Learn more
    Google sign-in failed. Please try again or use another login method.