Medical Office
For Sale
$995,000
1501 Lamoille Highway, Elko, NV 89801
CommercialSale, Elko, NV
Property Size4,381 SF
Lot Size0.76 Acres
Price / SF$227.12
Days on Market47
Property Features for 1501 Lamoille Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
ZC
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
BayWindow
Exterior features
CornerLot, SprinklerIrrigation, Landscaping, MatureTreesLandscape
Subdivision
ZX-Other/None
Lot features
Lawn, Sprinklers Automatic
Standard status
Active
APN
001-750-016
Size
4,381 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Annual Amount
7640
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1993
Flooring type
Carpet, Hardwood, Laminate
Building materials
Block, MetalSiding, WoodSiding
Roof type
Metal
Listing Agency:
Coldwell Banker Commercial Excel · Coldwell Banker Real Estate
(775) 738-4078
Listed By:
Sierra Petersen · License #BS.0146660
(775) 340-2393
Added: Jul 27
Changed: Sep 10
Last Checked: Sep 11 at 4:06PM
MLS# 3628160
Copyright © 2026 Elko County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,381-square-foot medical office property was previously used as a medical facility and includes exam rooms, offices, reception space, and 2 bathrooms. The interior was recently painted, and the building combines block, metal siding, and wood siding construction with laminate, carpet, and hardwood flooring. Forced-air natural gas heating and central air conditioning serve the building, while the metal roof and public water supply support the existing improvements.
The property is located at 1501 Lamoille Highway in Elko, Nevada, on a corner lot with landscaping, mature trees, and sprinkler irrigation. The site is identified by a 0.759-acre lot size and includes an existing commercial building constructed in 1993. Its prior medical configuration provides a defined starting point for continued healthcare use or interior reconfiguration.
The property is located at 1501 Lamoille Highway in Elko, Nevada, on a corner lot with landscaping, mature trees, and sprinkler irrigation. The site is identified by a 0.759-acre lot size and includes an existing commercial building constructed in 1993. Its prior medical configuration provides a defined starting point for continued healthcare use or interior reconfiguration.
Key Highlights
- 4,381‑square‑foot building on a 0.759‑acre lot
- Previously operated as a medical facility
- Exam rooms, offices, reception space, and 2 bathrooms
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
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
Check the figures for this property
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 facility with exam rooms, offices, reception space, and two bathrooms.
Where is this medical office space located?
The property is located at 1501 Lamoille Highway 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 a 0.759‑acre lot; Previously operated as a medical facility; Exam rooms, offices, reception space, and 2 bathrooms
