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1657 PRATER WAY, Sparks, NV 89434
Storefront properties
Property Size4,872 SF
Price / SF$287.36
Days on Market116
Property Features for 1657 PRATER WAY
General Information
Standard status
Active
Size
4,872 SF
Total Parking Spaces
19
Property subtype
Retail, Mixed Use
Investment Type
Owner/User
Additional Details
Road Access
Yes
Building Details
Year Built
1983
Stories
1
Units
13
Listing Agency:
Real Broker, LLC
Listed By:
Josh Mansion · License #NV# S.0198515
Source:
Crexi
Added: May 13
Changed: Sep 4
Last Checked: Sep 2 at 3:25AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Key Highlights
- 4,872 SF high‑visibility mixed‑use commercial property with dual frontage on Rock Blvd and Prater Way
- Front building faces Prater Way and is operating as a flower shop with 14 customer parking spaces
- Back building faces Rock Blvd and was previously used as a veterinary office, with 5 parking spaces
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
$112,670
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
8.05%
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%
$2,253,400
$2.3M
Cap Rate 7%
$1,609,571
$1.6M
Cap Rate 9%
$1,251,889
$1.3M
Market Conditions
NOI Build-Up for 4,872 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
$166.6K $34.20/SF
− Vacancy
−$5.7K −$1.16/SF
EGI
$161.0K $33.04/SF
− OpEx
−$48.3K −$9.91/SF
NOI
$112.7K $23.13/SF
Area
Sparks, NV
Vacancy
3.40%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,253,400
Cap Rate 7%
$1,609,571
Cap Rate 9%
$1,251,889
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $112,670 @ 7.0% cap · market cap 8.05%
Second Best
Healthcare Medical
$1.01M
$887.5K – $1.18M
NOI $70,999 @ 7.0% cap · market cap 5.07%
Theoretical Best
Specialty Retail
$1.72M
$1.51M – $2.01M
NOI $120,718 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89434, NV
28,154
Population
11,680
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
125.5 sq mi
ZIP Area
224
Density / Sq Mi
$90,953
Median Household Income
$45,918
Median Earnings
$1,857
Median Rent
$439,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Flower Bucket Florist — 1657 Prater Way, Sparks, NV 89431
- Flower Pointe LLC a LLC — 1001 Pyramid Way, Sparks, NV 89431
- Sierra Bouquets — 721 Greenbrae Dr, Sparks, NV 89431
Frequently Asked Questions
Where is this storefront property located?
The property is located at 1657 PRATER WAY Sparks, NV.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 4,872 SF high‑visibility mixed‑use commercial property with dual frontage on Rock Blvd and Prater Way; Front building faces Prater Way and is operating as a flower shop with 14 customer parking spaces; Back building faces Rock Blvd and was previously used as a veterinary office, with 5 parking spaces
