Office Unit with Framed
For Sale
Contact for pricing
123 2nd Street, Elko, NV 89801
Framing is complete, with engineering finished and construction permits ready for contractor assignment.
Property Size1,668 SF
Price / SF$134.89
Days on Market52
Property Features for 123 2nd Street
General Information
Standard status
Active
Size
1,668 SF
Property subtype
Land
Building Details
Year Built
1973
Listing Agency:
Coldwell Banker Excel Spring Creek
Listed By:
Sierra Petersen · License #NV BS.0146660
(775) 340-2393
Source:
Crexi
Added: Aug 27
Changed: Oct 16
Last Checked: Oct 16 at 8:43AM
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 Coldwell Banker Excel Spring Creek
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Investment Insights
Based on property information with market context.
This 1,668-square-foot office unit offers a partially completed interior with framing in place. The existing condition allows the next owner to establish the layout and finishes needed for an office, retail, or creative-space operation. Further construction will be the buyer’s responsibility.
Engineering has been completed by Black Dolphin, and permits to complete the work are ready at the City of Elko pending assignment to the selected contractor. The property is located in Elko, Nevada, at 123 2nd St.
Engineering has been completed by Black Dolphin, and permits to complete the work are ready at the City of Elko pending assignment to the selected contractor. The property is located in Elko, Nevada, at 123 2nd St.
Key Highlights
- 1,668‑square‑foot office unit
- Interior framing is complete
- Engineering work completed by Black Dolphin
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,780
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,600
$355.6K
Cap Rate 7%
$254,000
$254.0K
Cap Rate 9%
$197,556
$197.6K
Market Conditions
NOI Build-Up for 1,668 SF
Gross rent
$27.0K $16.20/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$25.4K $15.23/SF
− OpEx
−$7.6K −$4.57/SF
NOI
$17.8K $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 Rate 5%
$355,600
Cap Rate 7%
$254,000
Cap Rate 9%
$197,556
Alternative Uses
Best Use
Office B
$408.1K
$357.1K – $476.1K
NOI $28,568 @ 7.0% cap · market cap 12.70%
Second Best
Retail
$254.0K
$222.3K – $296.3K
NOI $17,780 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$530.0K
$463.8K – $618.4K
NOI $37,102 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 89801, NV
26,250
Population
11,079
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
87%
High-School Grad
1,212.7 sq mi
ZIP Area
22
Density / Sq Mi
$83,777
Median Household Income
$48,886
Median Earnings
$1,185
Median Rent
$278,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office units - Framing is complete, with engineering finished and construction permits ready for contractor assignment.
Where is this office units located?
The property is located at 123 2nd Street Elko, NV.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,668‑square‑foot office unit; Interior framing is complete; Engineering work completed by Black Dolphin
