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Norfolk Development Land

Type

LAND

Rate

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Availability

AVAILABLE, Now

Position your next commercial development at one of the primary gateways into Norfolk.... This 5.36+/- acre corner property is strategically located along South Victory Road, immediately south of East Omaha Avenue/U.S. Highway 275, the principal eastern access corridor serving Norfolk and the surrounding region. The level, unimproved site offers outstanding visibility to traffic entering Norfolk from the east, together with convenient access from both eastbound and westbound U.S. Highway 275. Its corner location, usable configuration, and proximity to a major highway create excellent potential for retail, hospitality, professional services, medical, office, restaurant, automotive, distribution, or other commercial development, subject to governmental approval. Represented as shovel-ready, the property is outside the designated flood zone, with municipal utilities available at or near the property boundary. These attributes may help reduce many of the preliminary challenges and expenses commonly associated with development sites. The property is situated within an area targeted by the City of Norfolk for continued commercial and industrial growth. Norfolk’s planning materials identify the southern Opportunity Zone tract as containing two major highways and oversized water and sewer infrastructure, with future land-use plans calling for expansion of the commercial and industrial corridors along U.S. Highways 81 and 275. The City describes the tract as offering significant development potential. Norfolk Area Economic Development Additional investment potential may be available through Opportunity Zone benefits and Tax Increment Financing, subject to the proposed project, current program requirements, governmental approval, and consultation with the buyer’s legal and tax advisers. The parcel was also included in the City’s East Omaha redevelopment study area, further supporting its position within a corridor identified for reinvestment and development. City of Norfolk redevelopment study Offered at just $2.98 +/- per square foot, or $725,000.00 this property is priced substantially below the cited Norfolk-area commercial land comparables of approximately $6.71 to $11.00 per square foot. Nearby commercial lots along the Victory Road corridor are currently marketed at considerably higher per-acre pricing, reinforcing the value presented by this offering. Nearby Victory Road commercial listings For a developer, owner-user, or investor seeking visibility, accessibility, infrastructure, and long-term positioning, this property presents a compelling opportunity to secure more than five acres along one of Norfolk’s most important commercial corridors. Property details • Parcel number: 590301225 • Legal description: Wiborg Second Addition, Lot 3 • Site address of record: 1110 East Omaha Avenue, Norfolk, NE • Land area: 5.36 +/- acres • Approximate square footage: 233,482 square feet • Offering price: $2.98 per square foot • Property classification: Commercial • Improvements: None • Location: South Victory Road, immediately south of U.S. Highway 275 Buyers should independently verify zoning, permitted uses, utility locations and capacities, access, flood-zone status, environmental conditions, Opportunity Zone qualification, and TIF eligibility with the appropriate governmental agencies.

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Listing Agency: Nebraska Realty b***@americanlegacylandco.com Show Phone

Listed By: Robert Osborne Show Phone

Source: Moodyscre

Added: Aug 23 Changed: Aug 30 Last Checked: Aug 30 at 9:55PM

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Investment Insights

Based on property information with market context.

This 5.36 +/- acre commercial land parcel is a level, unimproved corner site with no existing improvements. The property contains approximately 233,482 square feet and is positioned along South Victory Road, immediately south of U.S. Highway 275 in Norfolk, Nebraska.

Access is available from both eastbound and westbound U.S. Highway 275. Municipal utilities are available at or near the property boundary, and the site is represented as being outside the designated flood zone. The parcel is identified as Wiborg Second Addition, Lot 3, with parcel number 590301225 and a site address of 1110 East Omaha Avenue. Zoning, permitted uses, utility capacity, access, environmental conditions, and flood-zone status should be independently verified with the appropriate governmental agencies.

Key Highlights

• 5.36 +/- acres of commercial land
• Approximately 233,482 square feet
• Level, unimproved corner parcel

Property Analytics

Property Profile

Current Use

Commercial land

Suggested Use

Top Pick Building Supply Hair Salon Big Box & Wholesale Store Restaurant Garden Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

Location Intelligence

Trade Area within ½ mile

49

Businesses Nearby

Explore this area Business Placement

Demographics for 68701, NE

31,257

Population

13,806

Households

2.3

Avg Household Size

37

Median Age

24%

College-Educated

93%

High-School Grad

188.5 sq mi

ZIP Area

166

Density / Sq Mi

$64,862

Median Household Income

$40,713

Median Earnings

$855

Median Rent

$200,400

Median Home Value

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Frequently Asked Questions

What type of property is this?

Commercial land - Level, unimproved acreage with highway access and municipal utilities available at or near the property boundary.

Where is this commercial land located?

The property is located at 1110 E Omaha Ave Norfolk, NE.

What are key features of this property?

This property features: 5.36 +/- acres of commercial land; Approximately 233,482 square feet; Level, unimproved corner parcel