Mixed-Use Property with Retail
For Sale
$749,999
1921 Victorian Avenue, Sparks, NV 89431
Commercial Sale, Sparks, NV
Property Size2,440 SF
Lot Size0.14 Acres
Price / SF$307.38
Days on Market332
Property Features for 1921 Victorian Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MUD
Parking
4
Parking features
On Street, Alley
Window features
Single Pane Window(s), Aluminum Frames
Fencing
Chain Link
Subdivision
Newtown Tract
Directions
I-80 to Rock Blvd to Victorian Ave
Standard status
Active
APN
032-112-04
Size
2,440 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1564
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas, Forced Air, Wall Furnace
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1921
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Block, Frame, Wood Siding
Roof type
Shingle
Additional Structures
Residence
Listing Agency:
ERA - Realty Central · ERA Real Estate
(775) 685-2372
Listed By:
Abaid Khan · License #S.195183
(775) 636-5648
Added: Oct 28, 2025
Changed: Sep 12
Last Checked: Sep 24 at 5:06PM
MLS# 250057595
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 mixed-use property combines a vacant neighborhood retail storefront with a residential rental at the rear. The commercial area previously operated as a small market, and existing fixtures remain in place. The rear residence is a two-story barn-style structure with vinyl and carpet flooring, central air, forced-air and wall-furnace heating, and a shingle roof.
The 2,440-square-foot property occupies 0.14 acres near the intersection of Victorian Avenue and Kietzke Lane in Sparks, close to Rail City Casino. MUD zoning supports the property's commercial and residential configuration. The residence has alley access for its occupant, while parking is available off street. Public water and public sewer serve the property, with electricity available.
The 2,440-square-foot property occupies 0.14 acres near the intersection of Victorian Avenue and Kietzke Lane in Sparks, close to Rail City Casino. MUD zoning supports the property's commercial and residential configuration. The residence has alley access for its occupant, while parking is available off street. Public water and public sewer serve the property, with electricity available.
Key Highlights
- 2,440‑square‑foot mixed‑use property on 0.14 acres
- Vacant front retail area with existing market fixtures
- Two‑story residential rental at the rear
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
$60,458
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
8.06%
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%
$1,209,160
$1.2M
Cap Rate 7%
$863,686
$863.7K
Cap Rate 9%
$671,756
$671.8K
Market Conditions
NOI Build-Up for 2,440 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
$83.4K $34.20/SF
− Vacancy
−$2.8K −$1.16/SF
EGI
$80.6K $33.04/SF
− OpEx
−$20.2K −$8.26/SF
NOI
$60.5K $24.78/SF
Area
Sparks, NV
Vacancy
3.40%
Lease Rate
$34.20 /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%
$1,209,160
Cap Rate 7%
$863,686
Cap Rate 9%
$671,756
Alternative Uses
Best Use
Specialty Retail
$863.7K
$755.7K – $1.01M
NOI $60,458 @ 7.0% cap · market cap 8.06%
Second Best
Retail
$806.1K
$705.4K – $940.5K
NOI $56,428 @ 7.0% cap · market cap 7.52%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
Explore this area
Business Placement
Demographics for 89431, NV
40,219
Population
16,858
Households
2.4
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
9.2 sq mi
ZIP Area
4,372
Density / Sq Mi
$64,496
Median Household Income
$39,589
Median Earnings
$1,276
Median Rent
$332,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant neighborhood retail space fronts a two-story residential unit with alley access and off-street parking.
Where is this mixed-use property located?
The property is located at 1921 Victorian Avenue Sparks, NV.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: 2,440‑square‑foot mixed‑use property on 0.14 acres; Vacant front retail area with existing market fixtures; Two‑story residential rental at the rear
