TREMENDOUS DEVELOPMENT POTENTIAL
105.96 ACRES OF INDUSTRIAL LAND & BUILDINGS SELLING ABSOLUTE – NO RESERVE
LIVE & ONLINE VIRTUAL PUBLIC REAL ESTATE AUCTION
FRIDAY, NOVEMBER 6, 2026 | 10:00 AM
AUCTION LOCATION:
Divots Conference Center
4200 W. Norfolk Avenue, Norfolk, NE
PROPERTY LOCATION:
1015 Magnet Drive, Norfolk, NE
Located on the northeast corner of Norfolk near Northeast Community College.
REAL ESTATE OPEN HOUSE
SATURDAY, OCTOBER 17, 2026 | 11:00 AM – 12:30 PM
DEVELOPMENT POTENTIAL OPPORTUNITY best describes this outstanding 105.96-acre industrial property!
Located on the northeast corner of the City of Norfolk & within sight of the Northeast Community College Campus, this property is ideally situated for a vast range of development possibilities.
Access to the property is excellent, with paved access roads along the north, south & east boundaries along with railway frontage along the west boundary.
The property also features City Water & Sewer Service, Natural Gas Service & an active Cellular Service Tower along the east boundary.
If you are in the market for a large industrial property in Norfolk, Nebraska with tremendous development potential, excellent access, utilities already in place & a great location, DO NOT MISS THIS AUCTION!
PROPERTY HIGHLIGHTS
105.96 Acres, More or Less
Industrial Zoning according to Madison County Assessor information
Excellent Development Potential
Located on the Northeast Corner of Norfolk
Near Northeast Community College
Paved Access on the North, South & East Boundaries
Railway Frontage Along the West Boundary
City Water & Sewer Service
Natural Gas Service
Active Cellular Service Tower Along East Boundary
14,600 Total Sq. Ft. of Building Space
Large Paved Parking Lot with Approximately 75 Parking Spaces
SELLING ABSOLUTE – NO RESERVES OR MINIMUMS
BUILDING INFORMATION
The property includes approximately 14,600 total square feet of building space, consisting of approximately 9,600 sq. ft. & 5,000 sq. ft.
Building features include:
Full Concrete Floor
Steel Interior & Exterior Construction
Several Walk-In Doors
Office Space
Warehouse Space
Men's & Women's Restroom Facilities
Paved Parking Lot with Approximately 75-Car Capacity
Plus More
LEGAL DESCRIPTION
A tract of 105.96 acres, more or less, Tract #1, Part of the Northeast 1/4 & Part of the East Half of the Northwest Quarter, all in Section 14, Township 24, Range 1, Madison County, Nebraska.
ZONING
Industrial – According to Madison County Assessor Information.
2025 REAL ESTATE TAXES
$9,515.02
1031 TAX EXCHANGES
1031 Tax Exchanges are Welcome.
TERMS OF THE AUCTION
An Earnest Deposit of $250,000.00 will be required on Auction Day.
The balance will be due on or before December 15, 2026.
Title Insurance & Escrow Closing Fees will be divided equally between Buyer & Seller.
Marketable Title Provided.
Agents Represent Sellers.
AUCTIONEER'S NOTE
Make your plans now to attend this interesting auction! An opportunity like this does not come around very often, so be prepared to buy this outstanding property.
The property is being sold at ABSOLUTE PUBLIC AUCTION with NO MINIMUMS OR RESERVES!
Rarely do you have an opportunity to purchase 105.96 acres of industrial property with this much development potential, excellent access, railway frontage, utilities in place & substantial building space at public auction.
For additional information, photos and/or a private tour of the facility, contact Jack Nitz & Associates at 402-727-8800 or call Jay Nitz directly at 402-720-2541.
Additional information is available at NitzAuctions.com.
Coffee & Doughnuts Will Be Served.
V-150, LLC – SELLERS
ABSOLUTE NO RESERVE REAL ESTATE AUCTION
Friday, November 6, 2026 | 10:00 AM
Auction Held at Divots Conference Center – Norfolk, Nebraska
Property Located at 1015 Magnet Drive, Norfolk, Nebraska
AUCTION TERMS & IMPORTANT INFORMATION – PLEASE READ
LIVE AUCTION STARTS AT 10:00 AM
AUCTION LOCATION
The Auction will be held at the Divots Conference Center at 4200 W. Norfolk Avenue, Norfolk, NE
PROPERTY LOCATION
The Physical Address of the Property is 1015 Magnet Drive where the Building on the Property is located, which is on the Northeast corner of Norfolk near Northeast Community College.
BUYER’S PREMIUM
No Buyer’s Premium will be charged for bidders attending and purchasing at the live auction
A 1% Buyer’s Premium will apply to the online purchase for Real Estate (Please read Terms of Real Estate at Auction below)
BIDDING APPROVAL
Valid credit card required for bidding approval
A $100 authorization “ping” will be placed on your card and will drop off within 72 hours
TERMS OF REAL ESTATE AT AUCTION
An Earnest Deposit of $ 250,000.00 will be required on Auction Day. The balance will be due on or before December 15, 2026. Title Insurance & Escrow Closing Fees divided equally between Buyer and Seller. Marketable Title Provided. Agents Represent Sellers.
1031 TAX EXCHANGES: 1031 Tax Exchanges are Welcome.
TAXES: Taxes are pro-rated to the date of closing.
This Auction transaction is NOT contingent upon financing, sale of another property, 1031 tax exchange, inspections or for any other reason – THIS IS A CASH TRANSACTION. 1031 Tax Exchange Buyers are all welcome, but the sale is not contingent upon the Buyers’ ability to perform an exchange, nor the successful completion of an exchange for any reason.
All Prospective Buyers are required to make all financing arrangements prior to bidding on the Property. The successful bidder is required to pay $250,000.00 as earnest money with a cashier's check or by wire transfer. Upon full execution of the purchase agreement by both parties, all earnest money becomes nonrefundable.
BIDDING ONLINE: 1.00% Buyers Fee Auction (Online Bidders Only) - Successful high bid plus the buyer’s fee equals the total price offered. Winning bidder is contractually bound and will enter into a Contract to Purchase immediately upon being declared the successful bidder by the auctioneer. Upon the close of the auction, the winning bidder will be forwarded a Contract to Purchase via dotloop, all signors will need their own email address to facilitate signatures via dotloop. Signatures via dotloop or in person are required on auction day. All individuals and spouses purchasing the property are REQUIRED to sign the Purchase Agreement, no matter how many individuals are purchasing the property.
The $250,000.00 earnest deposit will be due by wire transfer or cashier's check within 48 hours of the full execution of the purchase agreement by all parties.
Neither the Auction Company nor the Seller is responsible in the event of loss of signal by either side.
Online Auction & Live Auction Pre-Bidding Bid Increment Schedule
All bids must follow the bidding increments below. The system will only accept the next valid bid amount.
Current Bid Amount | Bid Increment | Example |
Up to $50 | $1 | $18 → $19 |
$50.01 – $150 | $5 | $70 → $75 |
$150.01 – $500 | $10 | $150 → $160 |
$500.01 – $1,000 | $25 | $750 → $775 |
$1,000.01 – $5,000 | $50 | $2,450 → $2,500 |
$5,000.01 – $10,000 | $100 | $7,800 → $7,900 |
$10,000.01 – $20,000 | $250 | $14,500 → $14,750 |
$20,000.01 – $100,000 | $500 | $48,000 → $48,500 |
$100,000.01 – $200,000 | $1,000 | $145,000 → $146,000 |
$200,000.01 – $500,000 | $2,500 | $275,000 → $277,500 |
Over $500,000 | $5,000 | $650,000 → $655,000 |
During Live Auctions, the Auctioneer reserves the right to adjust bidding increments as necessary
Online auctions must follow the programmed bid increments established within the bidding platform
GENERAL AUCTION TERMS
1. The information provided in this catalog is deemed correct, but is in no way guaranteed. We will in no way be held responsible if the information provided to us was incorrect to begin with. While descriptions are believed to be correct, the Auctioneers or owners make no warranties or guarantees as to the genuineness, authenticity of or defect of any items & will not be held responsible for advertising discrepancies or inaccuracies. It is our sincerest intention to provide the potential buyer all the information that pertains to the various items.
2. ALL SALES ARE FINAL. All Property is offered in 'AS IS, WHERE IS' condition, unless otherwise specified by the Auctioneer. No Warranties, either expressed or implied, will be offered.
3. Once the Auctioneer says 'SOLD', the equipment becomes the Sole Responsibility of the Purchaser.
4. The Auction Company reserves the right to reject the Bid of any purchaser or revoke any/all bidding numbers from any purchaser, who in the past has presented a problem for collection to either the Auction Company or Seller.
5. Any/all Purchasers will be expected to rely upon his/her personal inspection or investigation of the property being offered at the Auction, or that of an approved party to Buyer, and not upon any representation of warranty or condition by the Seller or the Auction Company. Seller or Auction Company will, in NO WAY, be held responsible for any discrepancies, damage or loss of any property of Buyer once the Auctioneer says SOLD.
6. Any/all prospective Purchasers will be required to register for a bidder's number and present proper identification when registering.
7. Payments Due for LIVE Bidders: Earnest Deposit is due on auction day.
Payments Due for ONLINE Bidders: Earnest Deposit is due within 48 hours of the conclusion of the auction.
8. ABSOLUTELY NO Equipment will be removed from the Auction Site until Settled for. Any/all Equipment left at the Auction Site after the Auction will be the SOLE Responsibility of the Purchaser.
9. All Arrangements for Removal of the Equipment MUST be made through the Auction Company or Seller.
10. Any/all announcements made from the Block on Auction Day will take absolute precedence over any matter of print or any matter of previously printed advertising.
11. Neither the Sellers or the Auction Company will assume any liability or responsibility for transfer costs or damages to the equipment resulting in a loss to the Purchaser, either due to negligence or natural accidental occurrence circumstances. Furthermore, Purchaser will hold harmless both the Sellers and the Auction Company, and their heirs and assigns, from any litigation and/or loss due to any lawsuit brought by Purchaser for any loss that he/she may endure.
12. By making a bid, regardless of how such bid is made, Bidder acknowledges that Bidder has received, read, understands, and agrees to comply with and be bound by the Terms.
13. Jack Nitz & Associates shall not be liable or responsible for any interruptions, termination or corruption of any audio feed, video feed or of any other internet registration, bidding or other online related service that occurs before, during or in connection with the auction sale, regardless of the cause of fault attributable to the interruption, termination or corruption of such services.
14. TIE BIDS:
In the event of a tie bid, defined as two or more bidders placing the same bid amount at the same time, the following shall apply:
- Live / In-Person Auctions: Resolution of tie bids shall be at the sole discretion of the Auctioneer, whose decision shall be final.
- Online-Only Auctions: The bidding software records bids to fractions of a second. In the event of a tie, the bid first received by the system shall be recognized as the winning bid.
- Live Simulcast Auctions: In the event that an online bid and a live in-person bid are placed at the same amount simultaneously, the winning bid shall be whichever bid the Auctioneer recognizes first, at the Auctioneer’s sole discretion. This may be an online bid or a live bid.
If the Auctioneer declares an item “SOLD” and subsequently determines that the final bid was placed simultaneously by more than one bidder (including both live and online bidders), the Auctioneer reserves the absolute right to reopen bidding in order to properly resolve the tie. In such cases, an online bidder may receive a “SOLD” notification during a live simulcast auction, and bidding may be reopened. The Auctioneer’s decision shall be final and binding.
15. ONLINE & SIMULCAST BIDDING ERRORS: Bidders acknowledge that auctions utilizing online bidding platforms and/or live simulcast bidding are conducted in real time and operated by human personnel. While every effort is made to ensure accuracy, errors may occur, including but not limited to incorrect button selection, missed bids, delayed bids, software delay, or internet-related issues.
Neither the Sellers nor the Auction Company shall be held liable for such errors or omissions. By bidding online or through simulcast bidding, the Bidder assumes all risks associated with online bidding participation.
The Auctioneer and Auction Company reserve the right to resolve any bidding disputes, correct errors, reopen bidding, or re-offer an item if deemed necessary to maintain fairness and auction integrity.
16. A Credit Card is required for bidding approval and will be used as a verification tool.
