Mixed-Use Property with Service
For Sale
$1,775,000
Pending
280 E Main Street, Fernley, NV 89408
Commercial Sale, Fernley, NV
Property Size6,075 SF
Lot Size1.90 Acres
Days on Market184
Property Features for 280 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Parking features
Paved or Surfaced, Gated, Assigned, Parking Lot
Window features
Vinyl Frames
Lot features
Level
Directions
Hwy 50
Standard status
Pending
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
Amenities
propane filling station
storage sheds
Building Details
Year built
1948
Floors in Building
1
Number of units
6
Flooring type
Varies
Listing Agency:
Century 21 Prime Nevada Prime Real Estate LLC
(775) 234-5054
Listed By:
Michelle Barney · License #B.143247
(775) 303-7558
Added: Mar 6
Changed: Aug 20
Last Checked: Sep 6 at 5:06AM
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.
Investment Insights
Based on property information with market context.
This mixed-use property combines five buildings across a 1.9-acre, four-parcel assemblage. Improvements include a 1,632-square-foot three-bay service garage, a 494-square-foot service station office, a 896-square-foot office conversion, a 1,809-square-foot mobile home, a 1,244-square-foot residence, storage structures, and a self-service car wash that is not in service. The property also includes a covered fuel station, propane filling station, enclosed cinderblock storage, and a fenced, lit storage yard.
Located at 280 E Main Street in Fernley, the property carries C1 zoning and has Main Street frontage. One 0.26-acre parcel is leased from Union Pacific Railroad. Public water and sewer serve the property, with natural gas heating, central air, paved parking, gated access, and cable availability. The site is less than 15 minutes from Reno Tahoe Industrial Center, approximately 30 minutes from Reno, and about 40 minutes from Fallon Naval Air Base.
Located at 280 E Main Street in Fernley, the property carries C1 zoning and has Main Street frontage. One 0.26-acre parcel is leased from Union Pacific Railroad. Public water and sewer serve the property, with natural gas heating, central air, paved parking, gated access, and cable availability. The site is less than 15 minutes from Reno Tahoe Industrial Center, approximately 30 minutes from Reno, and about 40 minutes from Fallon Naval Air Base.
Key Highlights
- 1.9‑acre mixed‑use property with five buildings across four parcels
- 1,632‑square‑foot three‑bay service garage
- 0.57‑acre fenced and lit storage yard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$106,507
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,130,140
$2.1M
Cap Rate 7%
$1,521,529
$1.5M
Cap Rate 9%
$1,183,411
$1.2M
Market Conditions
NOI Build-Up for 6,075 SF
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.
Gross rent
$145.8K $24.00/SF
− Vacancy
−$3.8K −$0.62/SF
EGI
$142.0K $23.38/SF
− OpEx
−$35.5K −$5.84/SF
NOI
$106.5K $17.53/SF
Area
Lyon County, NV
Vacancy
2.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,130,140
Cap Rate 7%
$1,521,529
Cap Rate 9%
$1,183,411
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,507 @ 7.0% cap · market cap 6.00%
Second Best
Retail
$1.10M
$960.9K – $1.28M
NOI $76,874 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $131,057 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 14%
Family Dollar
Shops & Services
6,639 visits/mo
0.1 miles
76
Shops & Services
2,406 visits/mo
0.4 miles
SUBWAY
Dining
1,593 visits/mo
0.2 miles
H&R Block
Shops & Services
1,037 visits/mo
0.5 miles
Demographics for 89408, NV
23,201
Population
9,039
Households
2.6
Avg Household Size
37
Median Age
16%
College-Educated
91%
High-School Grad
464.1 sq mi
ZIP Area
50
Density / Sq Mi
$87,723
Median Household Income
$46,808
Median Earnings
$1,504
Median Rent
$352,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple commercial and residential improvements include a fenced storage yard, service garage, office areas, and a self-service car wash.
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: 1.9‑acre mixed‑use property with five buildings across four parcels; 1,632‑square‑foot three‑bay service garage; 0.57‑acre fenced and lit storage yard
