Building Details

Year Built 1993

Buildings 1

Listing Agency: Coldwell Banker Excel

Listed By: Sierra Petersen · License #BS.0146660 Show Phone

Source: Ferrari-lund

Added: May 18 Changed: Nov 5 Last Checked: Nov 4 at 4:56PM

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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 Coldwell Banker Excel

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Investment Insights

Based on property information with market context.

This 4,381-square-foot medical office building sits on 0.75 acres and was previously used as a medical facility. The interior includes exam rooms, offices, and reception space, with a layout that can support continued medical use or reconfiguration for professional office, clinic, retail, or service-based operations. The building was recently painted inside, providing a clean starting point for occupancy and improvements.

Located at 1501 Lamoille in Elko, the property fronts Lamoille Hwy in an established, accessible commercial area. The site offers room for parking, expansion, or additional improvements. Built in 1993, the property combines an existing commercial building with a sizable site and a recognizable highway-corridor address.

Key Highlights

• 4,381‑square‑foot building on 0.75 acres
• Previously used as a medical facility with exam rooms, offices, and reception space
• Recently painted interior

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$75,033

Cap Rate

7.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,500,660 $1.5M

Cap Rate 7%

$1,071,900 $1.1M

Cap Rate 9%

$833,700 $833.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,381 SF

Gross rent

$115.7K $26.40/SF

− Vacancy

−$15.6K −$3.56/SF

EGI

$100.0K $22.84/SF

− OpEx

−$25.0K −$5.71/SF

NOI

$75.0K $17.13/SF

Area

Elko County, NV

Vacancy

13.50%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,500,660

Cap Rate 7%

$1,071,900

Cap Rate 9%

$833,700

Alternative Uses

Best Use

Office B

$1.07M

$937.9K – $1.25M (±1% cap)

NOI $75,033 @ 7.0% cap · market cap 7.54%

Second Best

Healthcare Medical

$87.0K

$76.1K – $101.5K (±1% cap)

NOI $6,091 @ 7.0% cap · market cap 0.61%

Theoretical Best

Office A

$1.39M

$1.22M – $1.62M (±1% cap)

NOI $97,449 @ 7.0% cap · market cap 9.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medallus Urgent Care ... Medical Clinic Elko IV Clinic ... Spa & Massage Center Wren Ballard, MSN, ... Physician Dr. Rachot Vacharothone Pediatrician Jennifer Minard, APRN Physician

Suggested Use

Top Pick Pharmacy Garden Center Cafe & Coffee Shop Parking Lot & Garage Catering Service (Bike/Boat/Book/etc) Store

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

337

Businesses Nearby

Balanced

Demand for This Use

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

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Recently painted commercial building with an efficient layout and accessible highway-corridor location.

Where is this medical office space located?

The property is located at 1501 Lamoille Elko, NV.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: 4,381‑square‑foot building on 0.75 acres; Previously used as a medical facility with exam rooms, offices, and reception space; Recently painted interior