Historic Flex Building with
For Sale
$2,900,000
240 7th Street, Elko, NV 89801
CommercialSale, Elko, NV
Property Size11,517 SF
Lot Size0.69 Acres
Price / SF$251.80
Days on Market164
Property Features for 240 7th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
ZC
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Exterior features
FullyFenced, Workshop
Fencing
Fenced
Subdivision
ZX-Other/None
Standard status
Active
APN
001-352-005
Size
11,517 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Annual Amount
6417
Utilities
Heating system
Radiant
Water source
Public
Amenities
kitchenette
Building Details
Year built
1920
Flooring type
Concrete
Building materials
Brick
Roof type
Metal
Additional Structures
Workshop
Listing Agency:
Coldwell Banker Commercial Excel · Coldwell Banker Real Estate
(775) 738-4078
Listed By:
Sierra Petersen · License #BS.0146660
(775) 340-2393
Added: Apr 29
Changed: Sep 20
Last Checked: Oct 9 at 3:06PM
MLS# 3627805
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.
Dating to 1920, this remodeled brick flex property includes an 8,901-square-foot main building and a separate 3,408-square-foot warehouse on 0.689 acres. The main building retains a historic generator and original fixtures while adding LED lighting, radiant overhead heat, a kitchenette, and a manual 10-ton overhead crane. Its layout supports professional office, event, and creative studio applications.
The accompanying warehouse includes two 2-ton overhead cranes, a high-capacity air compressor, concrete flooring, and 200-amp, 3-phase electrical service. Both structures share public water and sewer connections and have gas and electric meters. The site is fenced and provides 7 standard parking spaces plus 1 ADA-compliant space. Located at 240 7th Street in Elko, the property also includes a workshop and 3 bathrooms.
The accompanying warehouse includes two 2-ton overhead cranes, a high-capacity air compressor, concrete flooring, and 200-amp, 3-phase electrical service. Both structures share public water and sewer connections and have gas and electric meters. The site is fenced and provides 7 standard parking spaces plus 1 ADA-compliant space. Located at 240 7th Street in Elko, the property also includes a workshop and 3 bathrooms.
Key Highlights
- 8,901‑square‑foot main building paired with a 3,408‑square‑foot warehouse
- 0.689‑acre fenced site at 240 7th Street, Elko, NV 89801
- Manual 10‑ton overhead crane in the main building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$197,252
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,945,040
$3.9M
Cap Rate 7%
$2,817,886
$2.8M
Cap Rate 9%
$2,191,689
$2.2M
Market Conditions
NOI Build-Up for 11,517 SF
Gross rent
$304.0K $26.40/SF
− Vacancy
−$41.0K −$3.56/SF
EGI
$263.0K $22.84/SF
− OpEx
−$65.8K −$5.71/SF
NOI
$197.3K $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 Rate 5%
$3,945,040
Cap Rate 7%
$2,817,886
Cap Rate 9%
$2,191,689
Alternative Uses
Best Use
Office B
$2.82M
$2.47M – $3.29M
NOI $197,252 @ 7.0% cap · market cap 6.80%
Second Best
Warehouse
$324.0K
$283.5K – $378.0K
NOI $22,682 @ 7.0% cap · market cap 0.78%
Theoretical Best
Office A
$3.66M
$3.20M – $4.27M
NOI $256,178 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Under-served
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
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Market
Vacancy Rate% for Office in West region
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Similar Off Market Nearby
- Dreez — 405 Silver St, Elko, NV 89801
- Catering Co at the Palladium — 506 Commercial St, Elko, NV 89801
Frequently Asked Questions
What type of property is this?
Flex space - Remodeled brick property combines office, event, studio, and warehouse functionality with fenced workshop space.
Where is this flex space located?
The property is located at 240 7th Street Elko, NV.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 8,901‑square‑foot main building paired with a 3,408‑square‑foot warehouse; 0.689‑acre fenced site at 240 7th Street, Elko, NV 89801; Manual 10‑ton overhead crane in the main building
