Fenced Commercial Land with Renovated
For Sale
$595,000
Pending
591 S Margaret St, Pahrump, NV 89048
5 acres of commercially zoned land with renovated concrete building.
Property Size2,400 SF
Lot Size5.00 Acres
Days on Market140
Property Features for 591 S Margaret St
General Information
Standard status
Pending
Size
2,400 SF
Lot size
5.00 Acres
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$2,384
Listing Agency:
(702) 439-6453
Listed By:
Grisel Juarez Diaz
(702) 439-6453
Source:
Elliman
Added: Apr 15
Changed: Aug 13
Last Checked: Aug 31 at 4:43PM
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 Grisel Juarez Diaz
Investment Insights
Based on property information with market context.
This property features 5 acres of fully fenced land zoned for general commercial use. A renovated 2,400 square foot concrete block building is located on the premises, featuring new exterior paint and foam insulation. The building includes a 247 square foot office and a 208 square foot office/storage space, both upgraded with new HVAC systems. Additionally, there is a full bath and 1,520 square feet of warehouse/workshop space equipped with 2 roll-up doors. The property has a functional septic system and a private well with a shed. An above-ground water tank is present but not currently in use. The site can accommodate up to 10 metal buildings of 4,800 square feet each. Monthly lease or purchase options are available.
Key Highlights
- 5 Acres Zoned General Commercial
- 2,400 Sq Ft Renovated Concrete Block Building
- Warehouse/Workshop Space (1,520 Sq Ft) with 2 Roll‑Up Doors
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
$23,328
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
3.92%
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%
$466,560
$466.6K
Cap Rate 7%
$333,257
$333.3K
Cap Rate 9%
$259,200
$259.2K
Market Conditions
NOI Build-Up for 2,400 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
$30.5K $12.72/SF
− Vacancy
−$3.1K −$1.28/SF
EGI
$27.4K $11.44/SF
− OpEx
−$4.1K −$1.72/SF
NOI
$23.3K $9.72/SF
Area
Nye County, NV
Vacancy
10.10%
Lease Rate
$12.72 /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%
$466,560
Cap Rate 7%
$333,257
Cap Rate 9%
$259,200
Alternative Uses
Best Use
Warehouse
$333.3K
$291.6K – $388.8K
NOI $23,328 @ 7.0% cap · market cap 3.92%
Second Best
Industrial
$274.4K
$240.1K – $320.2K
NOI $19,211 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$762.6K
$667.3K – $889.7K
NOI $53,384 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 89048, NV
25,166
Population
11,571
Households
2.2
Avg Household Size
54
Median Age
13%
College-Educated
87%
High-School Grad
86.0 sq mi
ZIP Area
293
Density / Sq Mi
$55,747
Median Household Income
$35,405
Median Earnings
$1,162
Median Rent
$292,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 5 acres of commercially zoned land with renovated concrete building.
Where is this commercial land located?
The property is located at 591 S Margaret St Pahrump, NV.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 5 Acres Zoned General Commercial; 2,400 Sq Ft Renovated Concrete Block Building; Warehouse/Workshop Space (1,520 Sq Ft) with 2 Roll‑Up Doors
