Fully Occupied Retail
For Sale
$625,000
140 E Main Street, Fernley, NV 89408
Commercial Sale, Fernley, NV
Property Size3,960 SF
Lot Size0.32 Acres
Price / SF$157.83
Days on Market67
Property Features for 140 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C1
Parking
26
Parking features
Parking Lot
Security features
Security Lighting
Window features
Aluminum Frames
Subdivision
Miller & Pray Addition
Lot features
Level
Standard status
Active
APN
020-022-06
Size
3,960 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
3617
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Number of units
5
Flooring type
Tile, Concrete
Building materials
Concrete
Roof type
Tar/Gravel, Flat
Listing Agency:
Coldwell Banker Select Reno · Coldwell Banker Real Estate
(775) 688-4800
Listed By:
Erika Bruun-Andersen · License #S.183560
(310) 980-7787
Added: Jun 18
Changed: Aug 20
Last Checked: Aug 23 at 9:06AM
MLS# 260007866
Copyright © 2026 Northern Nevada Regional MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,960-square-foot retail building occupies a 0.32-acre parcel at 140 E Main Street in Fernley. Built in 1979, the concrete structure has tile and concrete flooring, a flat tar-and-gravel roof, and a parking lot. The property is fully occupied by multiple local businesses, including a pet spa, heating and air contractor, hair design studio, printing and graphic design shop, and veterans coalition.
Building systems include natural-gas forced-air heat, electric central air conditioning, public water, and public sewer. C1 zoning supports the property's commercial retail profile. Its downtown Main Street setting places the building within the central Fernley business area.
Building systems include natural-gas forced-air heat, electric central air conditioning, public water, and public sewer. C1 zoning supports the property's commercial retail profile. Its downtown Main Street setting places the building within the central Fernley business area.
Key Highlights
- Fully occupied by five local commercial occupants
- 3,960‑square‑foot retail building on a 0.32‑acre parcel
- C1 zoning with retail‑oriented commercial use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,111
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,002,220
$1.0M
Cap Rate 7%
$715,871
$715.9K
Cap Rate 9%
$556,789
$556.8K
Market Conditions
NOI Build-Up for 3,960 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$78.4K $19.80/SF
− Vacancy
−$6.8K −$1.72/SF
EGI
$71.6K $18.08/SF
− OpEx
−$21.5K −$5.42/SF
NOI
$50.1K $12.65/SF
Area
Lyon County, NV
Vacancy
8.70%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,002,220
Cap Rate 7%
$715,871
Cap Rate 9%
$556,789
Alternative Uses
Best Use
Retail
$715.9K
$626.4K – $835.2K
NOI $50,111 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,430 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 17%
Family Dollar
Shops & Services
6,639 visits/mo
0.2 miles
SUBWAY
Dining
1,593 visits/mo
0.4 miles
H&R Block
Shops & Services
1,037 visits/mo
0.4 miles
Demographics for 89408, NV
23,201
Population
9,039
Households
2.6
Avg Household Size
37
Median Age
16%
College-Educated
91%
High-School Grad
464.1 sq mi
ZIP Area
50
Density / Sq Mi
$87,723
Median Household Income
$46,808
Median Earnings
$1,504
Median Rent
$352,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - C1-zoned commercial property with multiple local occupants, public utilities, central air, and on-site parking.
Where is this retail space located?
The property is located at 140 E Main Street Fernley, NV.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Fully occupied by five local commercial occupants; 3,960‑square‑foot retail building on a 0.32‑acre parcel; C1 zoning with retail‑oriented commercial use
