Corner-Lot Medical Office
For Sale
$1,100,000
1501 Lamoille Highway, Elko, NV 89801
CommercialSale, Elko, NV
Property Size4,381 SF
Lot Size0.76 Acres
Price / SF$251.08
Days on Market30
Property Features for 1501 Lamoille Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
ZC
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
BayWindow
Exterior features
CornerLot, SprinklerIrrigation, Landscaping, MatureTreesLandscape
Subdivision
ZX-Other/None
Lot features
Lawn, Sprinklers Automatic
Standard status
Active
APN
001-750-016
Size
4,381 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Annual Amount
7640
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1993
Flooring type
Laminate, Carpet, Hardwood
Building materials
Block, MetalSiding, WoodSiding
Roof type
Metal
Listing Agency:
Coldwell Banker Commercial Excel · Coldwell Banker Real Estate
(775) 738-4078
Listed By:
Sierra Petersen · License #BS.0146660
(775) 340-2393
Added: Jul 27
Changed: Aug 19
Last Checked: Aug 25 at 6:06AM
MLS# 3628160
Copyright © 2026 Elko County Board of Realtors. 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 corner-lot medical office building totals 4,381 SF and sits on 0.759 acres. The layout is designed for medical use, with exam rooms, offices, and reception space, and it can be reconfigured for other business purposes such as professional offices, a clinic, retail, or a service-based business. Recent interior painting, along with the existing flooring and room layout, supports an efficient transition for an owner-user or tenant.
Built in 1993, the property is improved with block and wood/metal siding construction and a metal roof. Heating is provided by natural gas forced air, and the space has central air. Additional physical features include a bay window, and the property includes public water service. The exterior improvements include landscaping with mature trees, sprinkler irrigation, and a corner-lot site that can support parking and potential site improvements.
The building’s position on Lamoille Hwy places it on a heavily trafficked corridor in Elko, supported by straightforward access for employees and visitors.
Built in 1993, the property is improved with block and wood/metal siding construction and a metal roof. Heating is provided by natural gas forced air, and the space has central air. Additional physical features include a bay window, and the property includes public water service. The exterior improvements include landscaping with mature trees, sprinkler irrigation, and a corner-lot site that can support parking and potential site improvements.
The building’s position on Lamoille Hwy places it on a heavily trafficked corridor in Elko, supported by straightforward access for employees and visitors.
Key Highlights
- Medical office layout with exam rooms, offices, and reception space
- 4,381 SF building on a 0.759‑acre corner lot
- On Lamoille Hwy in a high‑traffic, easily accessible Elko corridor
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
$75,033
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
6.82%
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%
$1,500,660
$1.5M
Cap Rate 7%
$1,071,900
$1.1M
Cap Rate 9%
$833,700
$833.7K
Market Conditions
NOI Build-Up for 4,381 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
$115.7K $26.40/SF
− Vacancy
−$15.6K −$3.56/SF
EGI
$100.0K $22.84/SF
− OpEx
−$25.0K −$5.71/SF
NOI
$75.0K $17.13/SF
Area
Elko County, NV
Vacancy
13.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,500,660
Cap Rate 7%
$1,071,900
Cap Rate 9%
$833,700
Alternative Uses
Best Use
Office B
$1.07M
$937.9K – $1.25M
NOI $75,033 @ 7.0% cap · market cap 6.82%
Second Best
Healthcare Medical
$87.0K
$76.1K – $101.5K
NOI $6,091 @ 7.0% cap · market cap 0.55%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,449 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89801, NV
26,250
Population
11,079
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
87%
High-School Grad
1,212.7 sq mi
ZIP Area
22
Density / Sq Mi
$83,777
Median Household Income
$48,886
Median Earnings
$1,185
Median Rent
$278,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Corner-lot medical office building on Lamoille Hwy with central air and forced-air natural gas heating.
Where is this medical office space located?
The property is located at 1501 Lamoille Highway Elko, NV.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Medical office layout with exam rooms, offices, and reception space; 4,381 SF building on a 0.759‑acre corner lot; On Lamoille Hwy in a high‑traffic, easily accessible Elko corridor
