Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    240 7th Street Elko, NV 89801

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    COMMERCIAL - Elko, NV

    Property size:
    3,408 SF
    Lot size:
    0.68 Acres
    Added:
    Jun 24, 2025
    Days on Market:
    301
    Last Refresh:
    Apr 20 at 9:06 am

    Property Features for 240 7th Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Exterior features
    FullyFenced
    Fencing
    Fenced
    Standard status
    Active
    APN
    001-352-005
    Size
    3,408 SF
    Lot size
    0.68 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6240

    Utilities

    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1930
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Sierra Petersen
    Sierra Petersen

    Listing agent Sierra Petersen License #BS.0146660

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

    Listing date Jun 24, 2025

    MLS# 3626502 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.

    Overview

    Elko Warehouse with Overhead Cranes

    This 3,408-square-foot warehouse in Elko, NV, is a well-equipped facility suitable for various commercial and industrial applications. It features two 2-ton overhead cranes, providing robust material handling capabilities across the workspace. A high-capacity air compressor supports a wide range of pneumatic tools and equipment. The property is powered by a 200-amp, 3-phase electrical service, delivering ample power for operations. It includes both gas and electric meters for flexible utility usage. The layout is optimized for efficiency and functionality, with durable construction and energy-efficient LED lighting throughout. The property also includes a 1,400 sq ft overhang. Situated near the city corridor for additional parking, the property includes 7 standard parking spots and 1 ADA-compliant space. The 0.68-acre lot is located at 240 7th Street. The main building can be leased alongside this building. Both buildings share water/sewer service.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • AAA Self Storage — 170 W River St, Elko, NV 89801
    • D & S Mini Storage — 365 River St, Elko, NV 89801
    • DNS Self Storage — 365 River St, Elko, NV 89801
    • Sharp Storage — 121 W Douglas St, Elko, NV 89801
    • Lipparelli Agency and 12th Street Mini Storage — 517 Idaho St, Elko, NV 89801

    Location Insight

    • Map
    • Local Demand
    City
    Elko
    County
    Elko
    State
    Nevada
    Longitude
    -115.7590279
    Latitude
    40.8333315

    Nearby Similar for Lease

    • Contact for pricing

      Elko Office/Medical Space Available

      Office or medical space for lease in Elko, Nevada.
      975 5th Street, Elko, NV 89801
      View Details
    • Contact for pricing

      Turnkey Medical Facility Near NNRH

      Well-equipped medical facility adjacent to Northern Nevada Regional Hospital.
      2003 Errecart Boulevard, Elko, NV 89801
      View Details
    • Contact for pricing

      Elko Office Suite For Rent

      Office suite in multi-tenant building with executive offices and conference area.
      102 2363 N 5th Street, Elko, NV 89801
      View Details
    • Contact for pricing

      Elko Industrial Building For Lease

      Flexible industrial space with roll-up doors and ample parking.
      2310 Last Chance Road, Elko, NV 89801
      View Details
    • Contact for pricing

      Elko Industrial Space For Rent

      Versatile industrial space with office and warehouse areas in Elko.
      118 2nd Street, Elko, NV 89801
      View Details
    • Contact for pricing

      Elko Retail Space Available

      Commercial space for lease on Idaho Street in Elko, Nevada.
      174 Idaho Street, Elko, NV 89801
      View Details
    • Contact for pricing

      Elko Industrial Building For Lease

      19,180 SF industrial building on 2.12 acres for lease.
      1345 Water Street, Elko, NV 89801
      View Details
    • Contact for pricing

      Elko Industrial Space Available

      Versatile industrial property with warehouse and office space in Elko.
      450 S 4th Street, Elko, NV 89801
      View Details
    • Contact for pricing

      Historic Building with Modern Functionality

      Remodeled historic building suitable for offices, events, or creative studios.
      240 7th Street, Elko, NV 89801
      View Details
    • Contact for pricing

      Elko Medical Office Space

      Well-maintained 2,520 SF medical office space for lease.
      2719 Argent Avenue, Elko, NV 89801
      View Details
    • Contact for pricing

      Elko Commercial Space For Lease

      Versatile commercial space with pull-through access in Elko, Nevada.
      729 Douglas Street, Elko, NV 89801
      View Details
    • Contact for pricing

      Elko Warehouse Space Available

      3,312 sq ft warehouse space in a prime location.
      653 River Street, Elko, NV 89801
      View Details

    FAQs

    What type of property is this?
    Warehouse - Well-equipped warehouse with cranes, air compressor, and ample power.
    Where is this warehouse located?
    The property is located at 240 7th Street Elko, NV.
    What are key features of this property?
    This property features: 3,408 sq ft warehouse with 1,400 sq ft overhang suitable for commercial/industrial applications.; Benefit from **two 2‑ton overhead cranes** for robust material handling.; 200‑amp, 3‑phase electrical service with both gas and electric meters.
    (775) 340-2393
    We can help!
    Listing Contact
    Sierra Petersen
    Sierra Petersen
    Real Estate License ID: BS.0146660
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!