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    029 030&031 Wells, NV 89835

    Sponsored
    For Sale
    $125,000

    Vacant Land - Wells, NV

    Lot size:
    160.11 Acres
    Days on Market:
    8
    Last Refresh:
    Feb 27 at 1:06 am

    Property Features for 029 030&031

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    100
    APN
    075-002-028,029,030&031
    Parking features
    Garage
    Lot size
    160.11 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    John Parsons

    LEGACY RANCHES, LLC

    Listing agent John Parsons

    Listing date Feb 20, 2026

    MLS# 11659673 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Nevada Land with Domestic Well

    This +/-160-acre property, consisting of four contiguous 40-acre parcels, is located in Elko County, near Wells, Nevada. The land is characterized as rangeland and grazing land. According to the landowner, a functional domestic well with electricity is located on the property. The elevation ranges from approximately 4,510 to 4,610 feet. The zoning is Open Space (OS), with a use code of 120 for single-family residential. A septic system will be needed. Access is provided by gravel and dirt roads. There is no time limit to build. Wildlife in the area includes Elk, Mule Deer, Pronghorn Antelope, predators, upland game birds, and small game. The property is 5.7 miles north of I-80 via Pilot Rd/Hwy 767, 11 miles from Pilot Peak, and 17 miles from West Wendover, NV. Salt Lake City, UT, is 130 miles away. The location is in T35N R69E Section 17. The land base measures 1/4 mile North to South and 1 mile West to East. Per the State of NV Water Resources Division, 1,800 Gallons Per Day from a Domestic Well is allowed to be utilized.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Wells
    County
    Elko
    State
    Nevada
    Longitude
    -114.2092
    Latitude
    40.9209

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    FAQs

    What type of property is this?
    Residential land & home lot - 160-acre residential and recreational land near Wells, Nevada.
    Where is this residential land & home lot located?
    The property is located at 029 030&031 Wells, NV.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: - 160 acres of residential and recreational land in Nevada with no state income tax.; - Functional domestic well with existing electricity on the property.; - Located just 5.7 miles North of I-80, providing relatively easy access.
    Request Owner's contact information
    029 030&031 Wells, NV 89835
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    Wells, NV 89835
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    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
    029 030&031 Wells, NV 89835
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    John Parsons
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