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    The Largest CRE Database in the US with Over 1 Million Listings

    1929 Us Highway 395 Gardnerville, NV 89410

    Sponsored
    For Sale
    $2,800,000

    MULTI_FAMILY - Gardnerville, NV

    Property size:
    8,150 SF
    Lot size:
    1.23 Acres
    Days on Market:
    71
    Last Refresh:
    Jan 28 at 1:06 pm

    Property Features for 1929 Us Highway 395

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Window features
    Double Pane Windows, Low Emissivity Windows, Vinyl Frames, Window Coverings
    Zoning
    General Comm
    Rooms
    Bedroom 5, Bedroom 8, Bedroom 9, Bedroom 7, Bathroom 1, Bedroom 6, Bathroom 10, Bathroom 3, Bedroom 1, Bathroom 5, Bathroom 8, Bathroom 4, Bedroom 4, Bathroom 7, Bathroom 2, Bathroom 9, Bedroom 2, Bedroom 3, Bathroom 6
    Bedrooms
    9
    APN
    102229301003
    Parking
    31
    Parking features
    Tandem, Assigned, Open, Garage, RV
    Patio and Porch features
    Deck
    Interior features
    High Ceilings, Smart Thermostat
    Exterior features
    Multiple Entry Flat or Ramped, Rain Gutters
    Accessibility
    Accessible Approach with Ramp
    Appliances
    Water Softener Owned, Dishwasher, Disposal, Electric Oven, Electric Range, Microwave, Refrigerator, Washer
    Size
    8,150 SF
    Lot size
    1.23 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Forced Air, Varies by Unit (Heating), Ductless (Heating), Electric (Heating), Propane (Heating)
    Cooling system
    Central Air, Ductless, Varies by Unit, Electric, Zoned
    Water source
    Well

    Building Details

    Year built
    1969
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Carpet, Laminate
    Building materials
    Frame, Stucco
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Katrina Karasawa

    RE/MAX Professionals (775) 345-3070

    Listing agent Katrina Karasawa (775) 997-3558 License #S.171551

    Listing date Nov 19, 2025

    MLS# 250057708 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Topaz Lake Retreat Investment Opportunity

    The Topaz Lake Retreat is an 8,150 sq.ft. standalone property overlooking Topaz Lake, offering panoramic water and mountain views. Situated on 1.23 acres with over 450 feet of Highway 395 frontage, this income-producing property is located just north of the Nevada/California border. The property has one of the only Short Term Rental Permits in the area. Originally built in 1969 and rebuilt/expanded in 1989, it has been improved in 2024/2025 and is currently operating as a short-term rental. The property includes new plumbing and electrical systems, new windows, new tankless water heaters, new cabinets and fixtures, and new appliances in every unit. It features 11 bedrooms, 6 bathrooms, 4 full kitchens plus a kitchenette. Each unit is furnished and includes granite islands/breakfast bars, laminate flooring, and a washer/dryer combo. The property offers 31 dedicated parking spaces for RVs, boats, and standard vehicles, along with gated long-term RV storage. Shared potable water, wastewater disposal, and fire protection systems are provided with the adjacent Best Western. This property is suitable for use as a corporate lodge, wellness retreat, boutique hospitality concept, or high-end vacation rental compound. It is fully fenced and secure, offering hospitality, retreat rental, corporate leasing, event hosting, or continued STR operations. The property has general commercial zoning.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Hotel & Motel Cafe & Coffee Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gardnerville
    County
    Douglas
    State
    Nevada
    Longitude
    -119.549719
    Latitude
    38.698985

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    FAQs

    What type of property is this?
    Hotel - 8,150 sq.ft. property with lake views and income potential.
    Where is this hotel located?
    The property is located at 1929 Us Highway 395 Gardnerville, NV.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: - Rare Short Term Rental Permit: Offering immediate income potential.; - High Income Potential: Multiple revenue streams including short-term rentals, corporate leasing, event hosting, and long-term RV storage.; - Completely Renovated: New plumbing, electrical, windows, tankless water heaters, cabinets, fixtures, and appliances in every unit (2024/2025).
    (775) 997-3558
    Request Owner's contact information
    1929 Us Highway 395 Gardnerville, NV 89410
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    Gardnerville, NV 89410
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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
    1929 Us Highway 395 Gardnerville, NV 89410
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    We can help!
    Listing Contact
    Katrina Karasawa
    Real Estate License ID: S.171551
    (775) 997-3558
    Learn more
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