Remodeled Live-Work
New
For Sale
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1559 D Street, Sparks, NV 89431
MUD-zoned property with updated interiors, two bathrooms, flexible workspace, and outdoor areas with alley access.
Property Size1,021 SF
Price / SF$426.05
Days on Market5
Property Features for 1559 D Street
General Information
Standard status
Active
Size
1,021 SF
Class
B
Property subtype
Retail, Office, Mixed Use
Zoning
MUD
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1935
Year Renovated
2026
Buildings
1
Stories
1
Units
1
Listing Agency:
Blue Sierra Realty
Listed By:
Chris DeMay · License #NV B. 145649
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 10:03AM
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 Blue Sierra Realty
Investment Insights
Based on property information with market context.
This 1,021-square-foot property offers a flexible live-work configuration with a remodeled interior and practical workspace. Improvements include a new kitchen with appliances, cabinetry, and added storage; updated electrical and plumbing; recessed lighting; mini-split heating and cooling systems; select replacement windows; and new LVP flooring. Two bathrooms and an additional flex area support a range of residential or office-oriented layouts.
The property includes a level backyard, front landscaping, alley access, and a spacious side driveway that can accommodate additional vehicles, trailers, or recreational vehicles. MUD zoning supports the stated live-work and office possibilities. Located at 1559 D Street in Sparks, the property is within walking distance of Victorian Square and offers quick freeway access. Built in 1935, it combines an established structure with extensive recent updates.
The property includes a level backyard, front landscaping, alley access, and a spacious side driveway that can accommodate additional vehicles, trailers, or recreational vehicles. MUD zoning supports the stated live-work and office possibilities. Located at 1559 D Street in Sparks, the property is within walking distance of Victorian Square and offers quick freeway access. Built in 1935, it combines an established structure with extensive recent updates.
Key Highlights
- 1,021 SF property with MUD zoning and live‑work possibilities
- Remodeled kitchen with all‑new appliances, cabinetry, and additional storage
- Updated electrical and plumbing, recessed lighting, and new LVP flooring
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
$14,450
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
3.32%
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%
$289,000
$289.0K
Cap Rate 7%
$206,429
$206.4K
Cap Rate 9%
$160,556
$160.6K
Market Conditions
NOI Build-Up for 1,021 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
$22.7K $22.20/SF
− Vacancy
−$3.4K −$3.33/SF
EGI
$19.3K $18.87/SF
− OpEx
−$4.8K −$4.72/SF
NOI
$14.4K $14.15/SF
Area
Sparks, NV
Vacancy
15.00%
Lease Rate
$22.20 /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%
$289,000
Cap Rate 7%
$206,429
Cap Rate 9%
$160,556
Alternative Uses
Best Use
Office B
$206.4K
$180.6K – $240.8K
NOI $14,450 @ 7.0% cap · market cap 3.32%
Second Best
Mixed Use
$202.4K
$177.1K – $236.1K
NOI $14,166 @ 7.0% cap · market cap 3.26%
Theoretical Best
Specialty Retail
$361.4K
$316.2K – $421.6K
NOI $25,298 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 89431, NV
40,219
Population
16,858
Households
2.4
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
9.2 sq mi
ZIP Area
4,372
Density / Sq Mi
$64,496
Median Household Income
$39,589
Median Earnings
$1,276
Median Rent
$332,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - MUD-zoned property with updated interiors, two bathrooms, flexible workspace, and outdoor areas with alley access.
Where is this live-work space located?
The property is located at 1559 D Street Sparks, NV.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1,021 SF property with MUD zoning and live‑work possibilities; Remodeled kitchen with all‑new appliances, cabinetry, and additional storage; Updated electrical and plumbing, recessed lighting, and new LVP flooring
