Sparks Industrial NNN Leased
For Sale
Contact for pricing
1240 Icehouse Ave, Sparks, NV 89431
Single-tenant NNN leased industrial property in Sparks, Nevada for sale.
Property Size113,400 SF
Price / SF$129.19
Days on Market185
Property Features for 1240 Icehouse Ave
General Information
Standard status
Active
Size
113,400 SF
Class
C
Property subtype
Industrial
Zoning
I
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
1960
Buildings
1
Units
2
Tenancy
Single
Listing Agency:
Logic Commercial Real Estate Reno
(775) 386-9727
Listed By:
Michael Keating · License #NV# S.174942
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 8 at 6:41AM
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 Logic Commercial Real Estate Reno
Investment Insights
Based on property information with market context.
This industrial property, located in the Sparks industrial core, is available as a single-tenant NNN leased investment. The property has a size of 113400 square feet. It is located less than 5 minutes from I-80. The property can be purchased as a portfolio with 1210 Icehouse; contact broker for details.
Key Highlights
- Single‑Tenant NNN Leased Investment
- Sparks Industrial Core Location
- Less than 5‑minutes from I‑80
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
$891,745
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
6.09%
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%
$17,834,900
$17.8M
Cap Rate 7%
$12,739,214
$12.7M
Cap Rate 9%
$9,908,278
$9.9M
Market Conditions
NOI Build-Up for 113,400 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
$1.14M $10.08/SF
− Vacancy
−$94.0K −$0.83/SF
EGI
$1.05M $9.25/SF
− OpEx
−$157.4K −$1.39/SF
NOI
$891.7K $7.86/SF
Area
Sparks, NV
Vacancy
8.22%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
15.00%
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%
$17,834,900
Cap Rate 7%
$12,739,214
Cap Rate 9%
$9,908,278
Alternative Uses
Best Use
Warehouse
$12.74M
$11.15M – $14.86M
NOI $891,745 @ 7.0% cap · market cap 6.09%
Second Best
Industrial
$8.74M
$7.65M – $10.20M
NOI $611,982 @ 7.0% cap · market cap 4.18%
Theoretical Best
Specialty Retail
$40.14M
$35.12M – $46.83M
NOI $2,809,814 @ 7.0% cap · market cap 19.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,276
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Single-tenant NNN leased industrial property in Sparks, Nevada for sale.
Where is this warehouse located?
The property is located at 1240 Icehouse Ave Sparks, NV.
What is the asking price?
The asking price for this property is $14,650,000.
What are key features of this property?
This property features: Single‑Tenant NNN Leased Investment; Sparks Industrial Core Location; Less than 5‑minutes from I‑80
