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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Warehouses
Wilson Ave Norfolk, NE 68748
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US57-0589199
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Total area
8,736 SF
Lot
0.69 ac (29,920 SF)
Zoning code
COMMERCIAL
APN
590006959
UPID
US57-0589199
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$759k
Blend (final)
Blend
$750k
Owner & transaction history
Michael Tielke · 4 yrs held
Michael Tielke
since 2021
Last sale
$663,000
1 recorded transaction
Zoning & alternative use
COMMERCIAL · Norfolk, NE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$985,000
+66.4%
Office building
$975,000
+65.3%
Restaurant
$865,000
+46.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$760,000
ML approach
$730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$590,000
Current use
APARTMENT HOUSE (5+ UNITS)
$985,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$975,000
Change: +65% · Conversion: Difficult
RESTAURANT
$865,000
Change: +47% · Conversion: Difficult
COMMERCIAL (GENERAL)
$835,000
Change: +42% · Conversion: Difficult
MEDICAL BUILDING
$700,000
Change: +18% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$625,000
Change: +6% · Conversion: Easy
RETAIL STORES
$610,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $663k (Dec 1 2021)
Last sale anchor
$663k
Dec 1 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$86 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,804
Tax year 2023
Assessed value
$313,949
Assessed 2023
Previous assessed
$304,418
+3.1% YoY
Effective rate
1.85%
On assessed value
Assessed land
$59,840
Assessed improvement
$254,109
Land market value
$59,840
Improvement market value
$254,109
Total market value
$313,949
Applied tax rate
30.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Stories
1
Total area
8,736 SF
Lot
0.69 ac (29,920 SF)
Zoning code
COMMERCIAL
APN
590006959
UPID
US57-0589199
Jurisdiction
MADISON
Zoning & alternative use
COMMERCIAL · Norfolk, NE
Zoning COMMERCIAL · permitted uses
COMMERCIAL · Norfolk, NE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norfolk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$590,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$985,000
OFFICE BUILDING
Est. value
$975,000
RESTAURANT
Est. value
$865,000
COMMERCIAL (GENERAL)
Est. value
$835,000
MEDICAL BUILDING
Est. value
$700,000
INDUSTRIAL (GENERAL)
Est. value
$625,000
RETAIL STORES
Est. value
$610,000
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Stories
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Michael Tielke
Individual
Mailing address
500 N VICTORY RD, NORFOLK, NE 68701-6811
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2021
$663,000
Michael Tielke
Curtis A Hjorth
Warranty Deed
$675,000 · Elkhorn Valley Bank & Trust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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