1600 1St StNorfolk, NE 68701

Property Details for 1600 1St St

Year built

1940

Lot size

0.18 AC

Property size (Sq ft)

4,264 SF

Zone code

COMMERCIAL

Property type

Office properties

Property subtype

Office buildings

APN

590073818

APU

590073818

Description

This exceptional 1.59-acre property, located at 1600 S 1st St in Norfolk, Nebraska (zip code 68701), presents a unique investment opportunity. Comprising five combined parcels, this land offers excellent accessibility, situated just a quarter-mile south of US Highway 275. This strategic location provides convenient access to Norfolk and its surrounding communities, making it ideal for a variety of commercial and industrial uses. The property's versatility allows for significant development potential, catering to businesses seeking a strategic location for growth. The site's adaptability makes it suitable for owner-users looking to establish their operations in a well-connected area. Note that the adjacent Norfolk Livestock Auction Land is also available for purchase, offering potential for expansion or synergistic development. This offering represents a compelling chance to secure a substantial land parcel in a thriving Nebraska community. The property's location and size make it an attractive option for businesses seeking a prominent presence in the Norfolk area. Detailed site plans and zoning information are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $849,336

  6.5%

  $784,002

  7%

  $728,002

• Comparable approach

  Method

  Valuation

  Relative Method

  $217,635

  Geo Method

  $217,635

• Alternative Use

  Use

  Valuation

  Residential

  $972,163

  Hospitality

  $890,496

  Educational

  $740,882

  Medical

  $766,362

  Retail

  $1,152,483

Location Insight

City

Norfolk

County

Madison

State

Nebraska

Latitude

42.0144

Longitude

-97.4074

CBSA code

35740

CBSA name

NORFOLK, NE MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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