Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Norfolk Land Parcel For Sale Title is generated by Realmo AI

    1403 Center Dr, Norfolk, NE

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land parcel available in Norfolk, Nebraska.

    Type:LAND
    Property size:
    71,974 SF
    Lot size:
    2.06 Acres
    Added:
    Apr 29, 2025
    Days on Market:
    400
    Last Refresh:
    May 20 at 8:08 pm

    Property Features for 1403 Center Dr

    General Information

    Standard status
    Active
    Size
    71,974 SF
    Lot size
    2.06 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Brett Heimes
    Brett Heimes

    Listing agent Brett Heimes License #20050415

    Listing office DP Management, LLC - Corporate

    Listing date Apr 29, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of DP Management, LLC - Corporate

    HighLights

    • Land parcel available
    • Located in Norfolk, Nebraska

    Overview

    A land parcel is available for sale in Norfolk, Nebraska. The property encompasses a total area of 71,974 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Madison
    State
    Nebraska
    Longitude
    -97.4285
    Latitude
    42.0206

    Nearby Similar for Sale

    • $1,799,999
      12,478 SF

      Norfolk Office Building For Sale

      Office building with income and upside potential in Norfolk.
      2501 W Benjamin Ave, Norfolk, NE 68701
      View Details
    • $3,376,653

      Norfolk Commercial Lots For Sale

      Commercial lots in Norfolk 140 Business Park, premier location.
      0000 Norfolk, Norfolk, NE 68701
      View Details
    • $3,588,950

      Irrigated Farmland Opportunity Near Norfolk

      Productive farmland with irrigation, pivots, and well-maintained access.
      837 Rd, Norfolk, NE 68701
      View Details
    • $1,000,000
      3,000 SF

      Versatile Metal Shop/Garage for Sale

      Spacious shop/garage with insulated bay and expansion potential.
      920 S Birch St, Norfolk, NE 68701
      View Details
    • $250,000

      Retail Lot in Norfolk, Nebraska

      1.21 AC retail lot for sale near shopping hub.
      2501 W Pasewalk Ave, Norfolk, NE 68701
      View Details
    • $150,000

      Retail Lot in Norfolk, NE

      0.70 AC retail lot for sale in Norfolk, Nebraska.
      700 South 25th Street, Norfolk, NE, 68701
      View Details
    • $1,000,000
      2,526 SF

      Versatile Multi-Parcel Commercial Opportunity

      Office building with expansion potential, plus house and shop.
      915 S Pine St, Norfolk, NE 68701
      View Details
    • $250,000
      1 SF

      Retail Lot in Norfolk, NE

      1.21 AC commercial lot for sale near retail hub.
      2501 West Pasewalk Avenue, Norfolk, NE, 68701
      View Details
    • $225,000

      Established Golf Cart Dealership

      Profitable golf cart dealership for sale with growth potential.
      3301 S 13th St, Norfolk, NE 68701
      View Details
    • $115,000

      Prime Commercial Land Opportunity

      Commercial land with high visibility and exposure in Norfolk.
      1317 W Norfolk Ave, Norfolk, NE
      View Details
    • Contact for pricing
      35,694 SF

      Retail Space For Sale

      Retail space with 8.50% CAP rate and 35,694 SF.
      601-701 S. 25th Street, Norfolk, NE 68701
      View Details
    • $3,650,000

      Development Ready Land Parcel

      Land parcel with completed grading and utility services available.
      1015 Magnet Dr, Norfolk, NE
      View Details

    FAQs

    What type of property is this?
    Land - Land parcel available in Norfolk, Nebraska.
    Where is this land located?
    The property is located at 1403 Center Dr Norfolk, NE.
    What are key features of this property?
    This property features: Land parcel available; Located in Norfolk, Nebraska
    (402) 415-6113 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brett Heimes
    Brett Heimes
    Real Estate License ID: 20050415
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1403 Center Dr, Norfolk, NE
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!