Storefront Property with Shared
For Sale
$1,400,000
631 Humboldt Avenue, Wells, NV 89835
CommercialSale, Wells, NV
Property Size9,396 SF
Lot Size1.15 Acres
Price / SF$148
Days on Market447
Property Features for 631 Humboldt Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
TC
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Exterior features
Fence, Garden, Storage
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Subdivision
Railroad Addition
View
Mountains, City
Standard status
Active
APN
002-650-010
Size
9,396 SF
Lot size
1.15 Acres
Taxes and HOA fees
Tax Annual Amount
6944
Utilities
Heating system
Forced Air, Propane (Heating)
Water source
Public
Building Details
Year built
1993
Flooring type
Concrete
Building materials
MetalSiding, Stucco
Roof type
Metal
Additional Structures
Storage, Shed(s)
Listing Agency:
Coldwell Banker Commercial Excel · Coldwell Banker Real Estate
(775) 738-4078
Listed By:
Nawny Jones · License #S.0194875
(775) 738-4078
Added: Jun 5, 2025
Changed: Aug 19
Last Checked: Aug 25 at 7:06AM
MLS# 3626408
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.
This storefront property is offered together with the long-standing Wells Hardware & Auto business. The building provides concrete flooring, a metal roof, and metal siding with stucco exterior finishes. Heating is provided via propane heating and forced air, and the property includes accessible approach with a ramp, fencing, garden space, and storage areas. Two bathrooms are listed in the room details.
Located at 631 Humboldt Avenue in Wells, Nevada, the property is described as sharing a wall with Roy's Market, supporting convenient one-trip shopping. The remarks also note established relationships with Genuine Parts Company (NAPA) and Do It Best Hardware.
Built in 1993, the property sits on a 1.15-acre lot with public water service and measures 9,396 square feet.
Located at 631 Humboldt Avenue in Wells, Nevada, the property is described as sharing a wall with Roy's Market, supporting convenient one-trip shopping. The remarks also note established relationships with Genuine Parts Company (NAPA) and Do It Best Hardware.
Built in 1993, the property sits on a 1.15-acre lot with public water service and measures 9,396 square feet.
Key Highlights
- Offered with the long‑standing Wells Hardware & Auto business
- 1.15‑acre lot with 9,396 SF storefront building
- Built in 1993 with metal roof
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
$100,158
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
7.15%
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%
$2,003,160
$2.0M
Cap Rate 7%
$1,430,829
$1.4M
Cap Rate 9%
$1,112,867
$1.1M
Market Conditions
NOI Build-Up for 9,396 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
$152.2K $16.20/SF
− Vacancy
−$9.1K −$0.97/SF
EGI
$143.1K $15.23/SF
− OpEx
−$42.9K −$4.57/SF
NOI
$100.2K $10.66/SF
Area
Elko County, NV
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,003,160
Cap Rate 7%
$1,430,829
Cap Rate 9%
$1,112,867
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,158 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.99M
$2.61M – $3.48M
NOI $209,000 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89835, NV
1,689
Population
635
Households
2.7
Avg Household Size
42
Median Age
15%
College-Educated
75%
High-School Grad
1,835.6 sq mi
ZIP Area
1
Density / Sq Mi
$64,583
Median Household Income
$30,789
Median Earnings
$977
Median Rent
$234,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding hardware and auto storefront with shared wall to Roy's Market, on-site storage, fencing, and accessible ramp approach.
Where is this storefront property located?
The property is located at 631 Humboldt Avenue Wells, NV.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Offered with the long‑standing Wells Hardware & Auto business; 1.15‑acre lot with 9,396 SF storefront building; Built in 1993 with metal roof
