Improved Mixed-Use
For Sale
$779,000
1001 Rock Boulevard #Unit 2, Sparks, NV 89431
Two well-kept buildings include private offices, open work areas, and a two-car attached garage.
Property Size1,648 SF
Days on Market212
Property Features for 1001 Rock Boulevard #Unit 2
General Information
Standard status
Active
Size
1,648 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Building Details
Building Size
1,648 SF
Year Built
1990
Buildings
2
Listing Agency:
Sierra Nevada Properties-Frnly
(775) 276-2991
Listed By:
Yao Yao Zhuang · License #S.198292
(775) 276-2991
Source:
Fernleynvhomes
Added: Jan 6
Changed: Jul 31
Last Checked: Aug 5 at 12:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sierra Nevada Properties-Frnly
Investment Insights
Based on property information with market context.
This mixed-use property comprises one parcel with two well-kept, fully improved buildings. Building 2 is configured for professional operations, with three private offices and a large open room that can accommodate reception or waiting functions upstairs. The downstairs includes two private offices, a laundry room, and a large multi-purpose room. A two-car attached garage provides parking or storage space.
Located on Rock Boulevard in Sparks, the property is next to a retail strip center and offers easy access. The flexible layouts combine private office areas with open workspace, supporting medical, dental, therapy, administrative, and other office-based uses identified for the property. The buildings were constructed in 1990.
Located on Rock Boulevard in Sparks, the property is next to a retail strip center and offers easy access. The flexible layouts combine private office areas with open workspace, supporting medical, dental, therapy, administrative, and other office-based uses identified for the property. The buildings were constructed in 1990.
Key Highlights
- One parcel with two well‑kept, fully improved buildings
- Building 2 includes 3 private offices and a large open reception or waiting area
- Downstairs includes 2 private offices, a laundry room, and a large multi‑purpose room
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
$24,016
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
3.08%
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%
$480,320
$480.3K
Cap Rate 7%
$343,086
$343.1K
Cap Rate 9%
$266,844
$266.8K
Market Conditions
NOI Build-Up for 1,648 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
$43.5K $26.40/SF
− Vacancy
−$3.5K −$2.11/SF
EGI
$40.0K $24.29/SF
− OpEx
−$16.0K −$9.72/SF
NOI
$24.0K $14.57/SF
Area
Sparks, NV
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$480,320
Cap Rate 7%
$343,086
Cap Rate 9%
$266,844
Alternative Uses
Best Use
Healthcare Medical
$343.1K
$300.2K – $400.3K
NOI $24,016 @ 7.0% cap · market cap 3.08%
Second Best
Office B
$333.2K
$291.5K – $388.7K
NOI $23,323 @ 7.0% cap · market cap 2.99%
Theoretical Best
Specialty Retail
$583.3K
$510.4K – $680.6K
NOI $40,834 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Explore this area
Business Placement
Demographics for 89431, NV
40,219
Population
16,858
Households
2.4
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
9.2 sq mi
ZIP Area
4,372
Density / Sq Mi
$64,496
Median Household Income
$39,589
Median Earnings
$1,276
Median Rent
$332,000
Median Home Value
Market
Vacancy Rate% for Office 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 - Two well-kept buildings include private offices, open work areas, and a two-car attached garage.
Where is this mixed-use property located?
The property is located at 1001 Rock Boulevard #Unit 2 Sparks, NV.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: One parcel with two well‑kept, fully improved buildings; Building 2 includes 3 private offices and a large open reception or waiting area; Downstairs includes 2 private offices, a laundry room, and a large multi‑purpose room
