Building Details

Year Built 2022

Buildings 2

Stories 1

Tenancy Single

Listing Agency: Dapper Companies Corporation

Listed By: Andrea Santanna · License #NV 65052

Source: Crexi

Added: Nov 17, 2023 Changed: Sep 2 Last Checked: Sep 1 at 9:17PM

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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 Dapper Companies Corporation

Investment Insights

Based on property information with market context.

The offering comprises a Family Dollar retail store and a water bottle kiosk on a 1.88-acre site in Sandy Valley, Nevada. The building contains approximately 10,500 square feet and is positioned at 1490 E Quartz Ave, Sandy Valley, NV 89019.

The investment is structured under an initial 10-year lease term with four additional 5-year renewal options. The property is classified as an NNN property, providing a defined lease framework for the retail asset.

Key Highlights

• Approximately 10,500 square feet on 1.88 acres
• Family Dollar retail store with water bottle kiosk
• Initial lease term of 10 years

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

$149,404

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

6.12%

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%

$2,988,080 $3.0M

Cap Rate 7%

$2,134,343 $2.1M

Cap Rate 9%

$1,660,044 $1.7M

Market Conditions

NOI Build-Up for 10,500 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

$214.2K $20.40/SF

− Vacancy

−$15.0K −$1.43/SF

EGI

$199.2K $18.97/SF

− OpEx

−$49.8K −$4.74/SF

NOI

$149.4K $14.23/SF

Area

Clark County, NV

Vacancy

7.00%

Lease Rate

$20.40 /SF/Yr

Expense Ratio

25.00%

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%

$2,988,080

Cap Rate 7%

$2,134,343

Cap Rate 9%

$1,660,044

Alternative Uses

Best Use

Specialty Retail

$2.13M

$1.87M – $2.49M (±1% cap)

NOI $149,404 @ 7.0% cap · market cap 6.12%

Second Best

Retail

$2.13M

$1.87M – $2.49M (±1% cap)

NOI $149,301 @ 7.0% cap · market cap 6.11%

Theoretical Best

Office A

$2.72M

$2.38M – $3.18M (±1% cap)

NOI $190,738 @ 7.0% cap · market cap 7.81%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Family Dollar Discount Store

Suggested Use

Top Pick Real Estate Agency (Bike/Boat/Book/etc) Store Law Firm Bed & Breakfast Arcade & Gaming Center Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

16

Businesses Nearby

3k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar Tree Shops & Services

3,184 visits/mo 0.2 miles

Demographics for 89019, NV

2,501

Population

1,755

Households

1.4

Avg Household Size

49

Median Age

21%

College-Educated

88%

High-School Grad

499.6 sq mi

ZIP Area

5

Density / Sq Mi

$50,106

Median Household Income

$27,917

Median Earnings

$916

Median Rent

$221,700

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this nnn properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

NNN property - Net-leased retail asset with an on-site water bottle kiosk in Sandy Valley, Nevada.

Where is this nnn property located?

The property is located at 1490 E Quartz Ave Sandy Jean, NV.

What is the asking price?

The asking price for this property is $2,442,857.

What are key features of this property?

This property features: Approximately 10,500 square feet on 1.88 acres; Family Dollar retail store with water bottle kiosk; Initial lease term of 10 years