128 S 5th St - Apartments FOR SALE


Norfolk, NE 68701
$1,500,000 USD
402-640-3653
128 S 5th St, Norfolk, NE for Sale
$1,500,000 USD
Apartments - FOR SALE
1/37
null | 4.9% Cap Rate

128 S 5th St
Norfolk, NE 68701


HIGHLIGHTS

  • Excellently maintained rubber membrane roof in place
  • Laundry room on site for multi-family tenants
  • Three office suite and five multi-family units

OVERVIEW

This mixed use property offers 5,500 SF of occupied office space along with storage and 5,500 SF of multi-family second floor apartments. It is located on the corner with excellent visibility and a free city parking lot available for customers and residents directly across the street. The Norfolk area downtown prides itself as a revitalized host to a summer concert series, annual parades, an Octoberfest and car shows. There is a good crowd draw with many restaurants, pubs, small eateries and local shops catering to everyone. The upstairs apartments are updated with modern kitchens and bathrooms and feature 11' ceilings, terrazzo flooring, and skylights in select units. There are long term tenants in the apartments and office suites. The office spaces have also been renovated and feature 10' ceilings. The apartment entryway is a controlled access front door with a buzzer release and speaker system. All office areas and apartments have their own heating and cooling. The roof is a permanent rubber membrane with rocks over top to provide stability and UV protection. The roof has been professionally inspected, maintained and kept in repair by owner since 1994. Owner pays for HVAC in common areas along with garbage service and water/sewer for the entire property.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$136 USD /SF

# OF UNITS

8

PRICE/UNIT

$187,500

CAP RATE

4.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mohawk Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

3

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

C2

APN/PARCEL ID

590077856

ASK ABOUT THIS PROPERTY

Douglas F StebbingMohawk Building LLCMore Info
402-640-3653

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Douglas F StebbingMohawk Building LLCMore Info
402-640-3653

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.