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    Mixed-Use Property on Main Street Title is generated by Realmo AI

    280 E Main Street, Fernley, NV 89408

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    Claim this Listing
    For Sale
    $1,775,000

    COMMERCIAL - Fernley, NV

    Property size:
    6,075 SF
    Lot size:
    1.90 Acres
    Price / SF:
    $292/SF
    Added:
    Mar 6, 2026
    Days on Market:
    92
    Last Refresh:
    Jun 6 at 9:06 am

    Property Features for 280 E Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C1
    Parking features
    Assigned, Parking Lot, Gated, Paved or Surfaced
    Window features
    Vinyl Frames
    Standard status
    Active
    APN
    020-022-11
    Size
    6,075 SF
    Lot size
    1.90 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7091

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1948
    Floors in Building
    1
    Number of units
    6
    Flooring type
    Varies

    We can help!

    Listing Contact
    Michelle Barney
    Michelle Barney

    Listing agent Michelle Barney License #B.143247

    Listing office Century 21 Prime Nevada Prime Real Estate LLC 1044 Inglewood Dr,. STE 206, Fernley, NV

    Listing date Mar 6, 2026

    MLS# 260002476

    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.

    HighLights

    • Multi‑parcel property with mixed usage zoning offering expansion or redevelopment potential.
    • Prime Main Street location in Fernley, NV, with high visibility and signage opportunities.
    • Includes a 3‑bay service garage, service station/office, residential/office spaces, and a .57‑acre fenced and lit storage yard.
    • Proximity to major employment centers: Reno Tahoe Industrial Center (15 min), Reno (30 min), Fallon Naval Air Base (40 min).
    • Diverse income streams possible with existing structures.
    • Utilities available: Natural Gas Heating, Central Air Cooling, Public Water and Sewer, Cable Available.

    Overview

    This mixed-use property is situated on Main Street in Fernley, Nevada, and spans 1.9 acres across four parcels. The property includes five buildings, featuring a 1,632-square-foot, 3-bay service garage, a 494-square-foot service station office with a covered fuel station, an 896-square-foot residential-to-commercial conversion office, and a 1,809-square-foot mobile home. Additionally, there is an enclosed cinderblock open-air storage area and a propane filling station. Another building is a 1,244-square-foot residence with two storage sheds and a fenced yard. The property also includes a .57-acre fenced and lit storage yard and a self-service car wash that is not currently in service. The main parcels are divided by a .26-acre land parcel leased from Union Pacific Railroad. The property's frontage on Main Street offers potential for signage and visibility. Located less than 15 minutes from the Reno Tahoe Industrial Center, 30 minutes from Reno, and approximately 40 minutes from Fallon Naval Air Base, the property's zoning allows for multiple uses, making it suitable for expansion or redevelopment. The property includes parcels 020-022-11, 020-022-10, 020-101-08 and 020-101-07.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $145.8k $24.00
    − Vacancy −$3.8k −$0.62
    EGI $142.0k $23.38
    − OpEx −$35.5k −$5.84
    NOI $106.5k $17.53
    6,075 SF · lease $24.00/SF/yr · vacancy 2.60% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.52M
    $1.33M – $1.78M (±1% cap)
    NOI $106,507 @ 7.0% cap · market cap 6.00%
    Second Best
    Retail
    $1.10M
    $960.9K – $1.28M (±1% cap)
    NOI $76,874 @ 7.0% cap · market cap 4.33%
    Theoretical Best
    Office A
    $1.87M
    $1.64M – $2.18M (±1% cap)
    NOI $131,057 @ 7.0% cap · market cap 7.38%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Fernley
    County
    Lyon
    State
    Nevada
    Longitude
    -119.247079
    Latitude
    39.607942

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    FAQs

    What type of property is this?
    Mixed-use property - Multi-parcel property with mixed usage in Fernley, Nevada.
    Where is this mixed-use property located?
    The property is located at 280 E Main Street Fernley, NV.
    What is the asking price?
    The asking price for this property is $1,775,000.
    What are key features of this property?
    This property features: Multi‑parcel property with mixed usage zoning offering expansion or redevelopment potential.; Prime Main Street location in Fernley, NV, with high visibility and signage opportunities.; Includes a 3‑bay service garage, service station/office, residential/office spaces, and a .57‑acre fenced and lit storage yard.
    (775) 303-7558
    We can help!
    Listing Contact
    Michelle Barney
    Michelle Barney
    Real Estate License ID: B.143247
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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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