Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    301 1st St Norfolk, NE 68701-5495
    Back to Search
    Property profile & analytics

    301 1st St, Norfolk, NE 68701-5495

    View on Map
    • Retail space
    • 6,532 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US57-0767971
    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

    • Retail space

    Property Details for 301 1st St

    Year built
    1980
    Lot size
    0.23 lot acres
    Zone code
    COMMERCIAL
    Property type
    Retail space
    APN
    590083244
    APU
    590083244

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 31, 2023 $435,000 Pamela S Davidson Craig Risor Warranty Deed $300k · Madison County Bank
    Mar 10, 2020 — Craig Risor — Deed · related $227k · Midwest Bank
    Oct 17, 2016 — Craig Risor — Deed · related $75k · Midwest Bank
    Sep 21, 2007 $125,000 Risor, Craig & Bobbi One Stop Auto & Machine INC Assessor Sales History —
    Jul 30, 2007 — One Stop Auto & Machine INC Nathan, Rollin D & Linda M Assessor Sales History —

    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
    -97.4067
    Latitude
    42.0301
    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
    $4,237
    $20,354
    $208,800
    $229,154
    -
    $20,354
    $208,800
    $229,154

    Comparable in this City

    • Value Estimation
      $3,320,000
      40,300 SF

      3206 Raasch Dr

      RETAIL STORES (PERSONAL SERVICES)
      3206 Raasch Dr, Norfolk, NE 68701-3175
      View Details
    • Value Estimation by Request
      2,140 SF

      83505 Us Hwy 81

      RETAIL STORES (PERSONAL SERVICES)
      83505 Us Hwy 81, Norfolk, NE 68701-1273
      View Details
    • Value Estimation by Request
      2,688 SF

      210 Winter Ave

      RETAIL STORES (PERSONAL SERVICES)
      210 Winter Ave, Norfolk, NE 68701-4143
      View Details
    • Value Estimation by Request
      2,064 SF

      417 Norfolk Ave

      RETAIL STORES (PERSONAL SERVICES)
      417 Norfolk Ave, Norfolk, NE 68701-4162
      View Details
    • Value Estimation
      $1,530,000
      13,500 SF

      1301 Norfolk Ave

      RETAIL STORES (PERSONAL SERVICES)
      1301 Norfolk Ave, Norfolk, NE 68701-4833
      View Details
    • Value Estimation by Request
      3,937 SF

      713 Norfolk Ave

      RETAIL STORES (PERSONAL SERVICES)
      713 Norfolk Ave, Norfolk, NE 68701-5142
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Retail Space For Sale

      Retail space with 8.50% CAP rate and 35,694 SF.
      601-701 S 25Th 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

      Retail Lot in Norfolk, Nebraska

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

      Industrial Lots in Bradford Business Park

      Shovel-ready industrial lots in Norfolk's Bradford Business Park.
      3307 W Michigan Ave, Norfolk, NE 68701
      View Details
    • Contact for pricing

      Development Ready Land Parcel

      Land parcel with completed grading and utility services available.
      1015 Magnet Dr, Norfolk, NE 68701
      View Details
    • Contact for pricing
      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

    Similar Nearby for Lease

    • 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 Major Businesses

      High-traffic retail space near Target and Fortune 500 company.
      1710 Market Ln, 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/Medical Building with High Visibility

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

      Retail Showroom with Highway Visibility

      Outlot retail space with excellent highway visibility and traffic.
      2305 Krenzien Dr, 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.
    301 1st St
    Norfolk, NE 68701-5495
    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
    301 1st St, Norfolk, NE, 68701
    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!