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Mohawk Building 128 S 5th St 8 Unit Apartment Building $1,500,000 ($187,500/Unit) 4.90% Cap Rate Norfolk, NE 68701
Investment Highlights
- Excellently maintained rubber membrane roof in place
- Three office suite and five multi-family units
- Laundry room on site for multi-family tenants
Executive Summary
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.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $187,500 | Building Class | C |
| Sale Type | Investment | Building Size | 11,000 SF |
| Cap Rate | 4.90% | No. Stories | 2 |
| No. Units | 8 | Year Built/Renovated | 1926/2008 |
| Property Type | Multifamily | Parking Ratio | 0.27/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | C2 | ||
| Price | $1,500,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 4.90% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 11,000 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1926/2008 |
| Parking Ratio | 0.27/1,000 SF |
| Zoning | C2 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Double Pane Windows
- Island Kitchen
- Skylights
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 3 | - | - |
1 1
Walk Score®
Very Walkable (85)
Property Taxes
| Parcel Number | 590077856 | Total Assessment | $306,106 |
| Land Assessment | $14,520 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $291,586 | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
590077856
Land Assessment
$14,520
Improvements Assessment
$291,586
Total Assessment
$306,106
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025 Payable 2025
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Mohawk Building LLC
Mohawk Building | 128 S 5th St
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