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    Historic McGill Building with C-2 Zoning Title is generated by Realmo AI

    21 Fourth Street, Mc Gill, NV 89318

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    For Sale
    $175,000

    COMMERCIAL - McGill, NV

    Property size:
    4,554 SF
    Price / SF:
    $38/SF
    Added:
    Jan 8, 2026
    Days on Market:
    138
    Last Refresh:
    May 26 at 3:06 pm

    Property Features for 21 Fourth Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    WetBar, Fireplace, HomeTheater, WalkInPantry
    Exterior features
    RainGutters
    Fireplace
    1
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    004-055-28
    Size
    4,554 SF

    Taxes and HOA fees

    Tax Annual Amount
    1264

    Utilities

    Heating system
    Forced Air, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1930
    Flooring type
    Concrete, Laminate
    Building materials
    Block, Concrete
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Joe Brown

    Listing agent Joe Brown License #S.0195641

    Listing office Coldwell Banker Commercial Excel 700 Idaho Street, Elko, NV

    Listing date Jan 8, 2026

    MLS# 3627297 Listing URL

    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.

    HighLights

    • C‑2 zoning offers diverse commercial or residential possibilities.
    • Significant improvements completed including new HVAC, fire sprinklers, and roof reinforcement.
    • Large lot offers ample onsite parking or outdoor venue potential.
    • Historic 1930 brick building with ties to McGill University.
    • New potable water line installed.
    • Interior features wet bar, fireplace, home theater, and walk‑in pantry.

    Overview

    This historic brick building, constructed in 1930, was formerly the McGill IOOF Lodge (Independent Order of Odd Fellows), a local landmark with ties to McGill University. The property has C-2 zoning, offering the potential for use as a restaurant, bar, coffee house, or retail center. Conversion to living quarters combined with commercial space or complete conversion to a single-family home are also possibilities. The property is considered a blank canvas. A vacant lot to the north has been merged with the parcel, increasing the lot size and providing onsite parking or space for an outdoor event venue. Improvements include lead and asbestos abatement, new HVAC systems on both floors, fire sprinklers on both floors, custom doors, new plumbing, refurbished antique windows, exterior masonry restoration and sealing, a new concrete archway, polished and sealed concrete ground floor, reinforced roof trusses, and a new potable water line with backflow preventer. The building features wood-framed walls and has a total size of 4554 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Specialty properties

    Map

    City
    Mc Gill
    County
    White Pine
    State
    Nevada
    Longitude
    -114.775043
    Latitude
    39.412165

    FAQs

    What type of property is this?
    Specialty property - Historic 1930s building in McGill, NV with C-2 zoning.
    Where is this specialty property located?
    The property is located at 21 Fourth Street Mc Gill, NV.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: C‑2 zoning offers diverse commercial or residential possibilities.; Significant improvements completed including new HVAC, fire sprinklers, and roof reinforcement.; Large lot offers ample onsite parking or outdoor venue potential.
    (775) 777-5311
    We can help!
    Listing Contact
    Joe Brown
    Real Estate License ID: S.0195641
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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
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