Nevada Commercial Property For
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1509 6th St, Wells, NV 89835
Commercial property in Wells, Nevada, with highway access and visibility.
Property Size21,698 SF
Lot Size1.09 Acres
Price / SF$147.48
Days on Market187
Property Features for 1509 6th St
General Information
Standard status
Active
Size
21,698 SF
Lot size
1.09 Acres
Property subtype
Hospitality
Zoning
Travel Commercial
Occupancy
55%
Building Details
Year Built
1992
Year Renovated
2024
Stories
2
Units
65
Listing Agency:
Keller Williams VIP
Listed By:
Justin Scott · License #S.0203614
Source:
Crexi
Added: Feb 17
Changed: Aug 14
Last Checked: Aug 20 at 2:26PM
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 Keller Williams VIP
Investment Insights
Based on property information with market context.
Located in Wells, Nevada, the commercial property at 1509 E 6th Street is situated along a primary east-west corridor. The property benefits from its proximity to Interstate 80, offering accessibility and visibility for local and interstate traffic. Wells is a stopover community for travelers, logistics operators, and regional commerce in northeastern Nevada. The property includes a building of approximately 21,698 square feet on approximately 1.09 acres of land. The site configuration allows for convenient access, on-site parking, and flexible use potential depending on zoning and buyer strategy. This property presents an opportunity for investors or owner-users seeking exposure in a low-density market with limited competing inventory.
Key Highlights
- Prime commercial property location along a primary east‑west corridor in Wells, Nevada.
- Excellent accessibility and visibility due to close proximity to Interstate 80.
- Large ±21,698 square foot building on ±1.09 acres.
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
$124,297
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
3.88%
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%
$2,485,940
$2.5M
Cap Rate 7%
$1,775,671
$1.8M
Cap Rate 9%
$1,381,078
$1.4M
Market Conditions
NOI Build-Up for 21,698 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
$390.6K $18.00/SF
− Vacancy
−$128.9K −$5.94/SF
EGI
$261.7K $12.06/SF
− OpEx
−$137.4K −$6.33/SF
NOI
$124.3K $5.73/SF
Area
Elko County, NV
Vacancy
33.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$2,485,940
Cap Rate 7%
$1,775,671
Cap Rate 9%
$1,381,078
Alternative Uses
Best Use
Hotel Hospitality
$1.78M
$1.55M – $2.07M
NOI $124,297 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.89M
$6.03M – $8.04M
NOI $482,639 @ 7.0% cap · market cap 15.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 89835, NV
1,689
Population
635
Households
2.7
Avg Household Size
42
Median Age
15%
College-Educated
75%
High-School Grad
1,835.6 sq mi
ZIP Area
1
Density / Sq Mi
$64,583
Median Household Income
$30,789
Median Earnings
$977
Median Rent
$234,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hospitality property - Commercial property in Wells, Nevada, with highway access and visibility.
Where is this hospitality property located?
The property is located at 1509 6th St Wells, NV.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Prime commercial property location along a primary east‑west corridor in Wells, Nevada.; Excellent accessibility and visibility due to close proximity to Interstate 80.; Large ±21,698 square foot building on ±1.09 acres.
