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    837 837Th Rd Norfolk, NE 68701

    View on Map
    Sponsored
    For Sale
    $3,588,950

    Vacant Land - Norfolk, NE

    Lot size:
    401.00 Acres
    Days on Market:
    28
    Last Refresh:
    Mar 10 at 12:06 pm

    Property Features for 837 837Th Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    300
    Parking features
    Garage
    Lot size
    401.00 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# 11596800 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.

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    Property Insight Report

    Overview

    Irrigated Farmland Opportunity Near Norfolk, NE

    This offering includes two tracts of farmland. Tract 1, located near Norfolk, NE in Madison County, consists of 241+/- acres. The parcel is nearly flat with good access via a hard surface road to the west and a well-maintained county road to the south. Water is supplied to two 7-tower Zimmatic center pivots. The south pivot is powered by a 100hp diesel Cat power unit with an Amarillo gearhead, while the north pivot features a 30hp US Electric motor. The well has a new column, stem, and pump. The property features 196.74+/- irrigated acres, 6.51+/- dryland acres, 32.53+/- grassland acres, and 5.22+/- other acres. There are 208 certified irrigated acres located in the Elkhorn NRD. Well G-175808, drilled in 2012, yields 700 GPM with a 16' static level and 40' pumping level, and a well depth of 110'. Well G-134263, drilled in 2003, yields 700 GPM with a 15' static level and 33' pumping level, and a well depth of 68'. Well G-1153329 (stock well), drilled in 2002, yields 20 GPM with a 7' static level and 45' pumping level, and a well depth of 54'. The total cropland acres are 231.85, with 197.60 base acres for corn and a 153 PLC yield. Tract 2, located between Norfolk, Stanton, and Madison in Stanton County, comprises 160+/- acres of irrigated farmland. The land has a gentle slope and good access on well-maintained county roads. A 7-tower Valley pivot is powered by a 75hp US Electric motor and Sargent pump. A new well (G-063647) was installed in 2022 on the southwest corner with new underground piping to the pivot, yielding 750 GPM with a 52' static level, 66' pumping level, and a well depth of 190'. The property includes 147+/- irrigated acres, 1.68+/- dryland acres, 6.48+/- grassland acres, and 9.89+/- other acres. There are 147 certified irrigated acres located in the Elkhorn NRD. The total cropland acres are 148.68, with 143.7 base acres for corn and a 178 PLC yield. Both tracts are open for the 2026 season.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Norfolk
    County
    Madison
    State
    Nebraska
    Longitude
    -97.38262
    Latitude
    41.964728

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    FAQs

    What type of property is this?
    Farm - Productive farmland with irrigation potential, open for the 2026 season.
    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 $3,588,950.
    What are key features of this property?
    This property features: - High percentage of irrigated acres suitable for crop production (Tract 1: 196.74+/- acres, Tract 2: 147+/- acres).; - Reliable irrigation infrastructure with multiple wells and center pivot systems (Tract 1: Two 7-tower Zimmatic pivots, Tract 2: 7-tower Valley pivot).; - Excellent access via hard surface and well-maintained county roads.
    (308) 995-8067
    Request Owner's contact information
    837 837Th Rd Norfolk, NE 68701
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    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
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    We can help!
    Listing Contact
    Jeff Moon
    Jeff Moon
    Real Estate License ID: 20171092
    (308) 995-8067
    Learn more
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