Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1109 Norfolk Ave Norfolk, NE 68701-4938

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1109 Norfolk Ave Norfolk, NE 68701-4938

    View on Map
    • Medical Office Space
    • 5,626 SF
    • 0.50 lot acres
    Off-Market
    Property ID
    US57-0739087
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 1109 Norfolk Ave

    Year built
    1928
    Lot size
    0.50 lot acres
    Property size
    5,626 SF
    Zone code
    COMMERCIAL
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    590057286
    APU
    590057286

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Madison
    State
    Nebraska
    Longitude
    -97.4227
    Latitude
    42.0323
    CBSA code
    35740
    CBSA name
    NORFOLK, NE MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,767
    $66,893
    $245,035
    $311,928
    -
    $66,893
    $245,035
    $311,928

    Comparable in this City

    • Value Estimation by Request
      5,620 SF

      2104 Taylor Ave

      MEDICAL BUILDING • 5,620 SF
      2104 Taylor Ave, Norfolk, NE 68701-4640
      View Details
    • Value Estimation
      $1,115,000
      17,026 SF

      3901 Norfolk Ave, Unit 1

      MEDICAL BUILDING • 17,026 SF
      3901 Norfolk Ave, Norfolk, NE 68701-4405
      View Details
    • Value Estimation
      $680,000
      10,850 SF

      110 37th St Ste, Unit 101

      MEDICAL BUILDING • 10,850 SF
      110 37th St Ste, Norfolk, NE 68701-3283
      View Details
    • Value Estimation by Request
      5,000 SF

      324 Norfolk Ave

      MEDICAL BUILDING • 5,000 SF
      324 Norfolk Ave, Norfolk, NE 68701-5233
      View Details
    • Value Estimation
      $790,000
      21,529 SF

      305 37th St

      MEDICAL BUILDING • 21,529 SF
      305 37th St, Norfolk, NE 68701-3275
      View Details
    • Value Estimation by Request
      4,968 SF

      1502 13th St

      MEDICAL BUILDING • 4,968 SF
      1502 13th St, Norfolk, NE 68701-2381
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      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
    • Contact for pricing
      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
    • Contact for pricing

      Established Golf Cart Dealership

      Profitable golf cart dealership for sale with growth potential.
      3301 S 13Th St, Norfolk, NE 68701
      View Details
    • Contact for pricing

      Industrial Lots in Bradford Park

      Shovel-ready industrial lots for sale, configurable to your needs.
      3205 W Michigan Ave, Norfolk, NE 68701
      View Details
    • Contact for pricing

      Industrial Lots in Bradford Business Park

      Shovel-ready industrial lots for sale, configurable to your needs.
      3506 Bradford Ave, Norfolk, NE 68701
      View Details
    • Contact for pricing

      Commercial Land For Sale

      Commercial land suitable for various businesses near established retailers.
      Channel Rd And Victory Rd, Norfolk, NE 68701
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      4,934 SF

      Former Medical Clinic For Lease

      Former medical clinic with 35 parking spaces available for lease.
      1130 South 13Th St, Norfolk, NE 68701
      View Details
    • Contact for pricing

      Retail/Office Space Available For Lease

      4,934 SF retail/office space for lease at $20.00/SF NNN.
      1130 S 13Th St, Norfolk, NE 68701
      View Details
    • Contact for pricing

      Retail Space Near Walmart

      Retail space available in shadow center anchored by Walmart.
      701 S 25Th St, Norfolk, NE 68701
      View Details
    • Contact for pricing

      Retail Space Near Major Businesses

      High-traffic retail space near Target and Fortune 500 company.
      1710 Market Ln, Norfolk, NE 68701
      View Details
    • Contact for pricing

      Retail/Medical Building with High Visibility

      Class A retail/medical space with excellent visibility in Norfolk.
      1130 S 13Th St, Norfolk, NE 68701
      View Details
    • $15 SF/Yr
      4,250 SF

      Retail Space Available For Lease

      Retail property available for lease with established neighboring businesses.
      2305 Krenzien Dr, Norfolk, NE 68701
      View Details
    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.
    1109 Norfolk Ave
    Norfolk, NE 68701-4938
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!