Building Details

Year Built 1942

Stories 1

Listing Agency: Sphere Real Estate j***@cbcvegas.com Show Phone

Listed By: Brenda Williams · License #S.0191430

Source: Crexi

Added: Apr 12 Changed: Aug 30 Last Checked: Apr 24 at 10:09PM

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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 Sphere Real Estate

Investment Insights

Based on property information with market context.

This industrial property at 115 Gaviland Street includes 4,818 square feet of building area. The asset is located in Searchlight, Nevada, within ZIP code 89046.

Key Highlights

• 4,818 SF industrial property
• Located at 115 Gaviland Street in Searchlight, NV 89046

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

$37,140

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

8.74%

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%

$742,800 $742.8K

Cap Rate 7%

$530,571 $530.6K

Cap Rate 9%

$412,667 $412.7K

Market Conditions

NOI Build-Up for 4,818 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

$60.7K $12.60/SF

− Vacancy

−$7.6K −$1.59/SF

EGI

$53.1K $11.01/SF

− OpEx

−$15.9K −$3.30/SF

NOI

$37.1K $7.71/SF

Area

Clark County, NV

Vacancy

12.60%

Lease Rate

$12.60 /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%

$742,800

Cap Rate 7%

$530,571

Cap Rate 9%

$412,667

Alternative Uses

Best Use

Industrial

$530.6K

$464.3K – $619.0K (±1% cap)

NOI $37,140 @ 7.0% cap · market cap 8.74%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.25M

$1.09M – $1.46M (±1% cap)

NOI $87,521 @ 7.0% cap · market cap 20.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Industrial properties

Location Intelligence

Trade Area within ½ mile

Explore this area Business Placement

Demographics for 89046, NV

562

Population

494

Households

1.1

Avg Household Size

57

Median Age

11%

College-Educated

90%

High-School Grad

864.5 sq mi

ZIP Area

1

Density / Sq Mi

$34,018

Median Household Income

$488

Median Rent

$129,600

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Industrial property - Industrial property with a defined building area for commercial use.

Where is this industrial property located?

The property is located at 115 Gaviland St Searchlight, NV.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 4,818 SF industrial property; Located at 115 Gaviland Street in Searchlight, NV 89046