Medical Office
For Sale
$995,000
1501 Lamoille, Elko, NV 89801
Recently painted commercial building with an efficient layout and accessible highway-corridor location.
Property Size4,381 SF
Lot Size0.75 Acres
Price / SF$227.12
Days on Market72
Property Features for 1501 Lamoille
General Information
Standard status
Active
Size
4,381 SF
Lot size
0.75 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1993
Buildings
1
Listing Agency:
Coldwell Banker Excel
Listed By:
Sierra Petersen
(775) 688-4000
Source:
Ferrari-lund
Added: Jul 7
Changed: Sep 15
Last Checked: Sep 15 at 7:43AM
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
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.
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 = 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
$75,033
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
7.54%
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%
$1,500,660
$1.5M
Cap Rate 7%
$1,071,900
$1.1M
Cap Rate 9%
$833,700
$833.7K
Market Conditions
NOI Build-Up for 4,381 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
$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 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%
$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
NOI $75,033 @ 7.0% cap · market cap 7.54%
Second Best
Healthcare Medical
$87.0K
$76.1K – $101.5K
NOI $6,091 @ 7.0% cap · market cap 0.61%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,449 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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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
