Sparks Office Building with
For Sale
Contact for pricing
1900 Frazer Ave, Sparks, NV 89431
723 SF office building with yard in Sparks, Nevada.
Property Size723 SF
Price / SF$468.88
Days on Market184
Property Features for 1900 Frazer Ave
General Information
Standard status
Active
Size
723 SF
Property subtype
Office
Zoning
Industrial
Investment Type
Owner/User
Building Details
Year Built
1948
Listing Agency:
Dickson Commercial Group
(775) 351-5578
Listed By:
Josh Menante · License #NV S.201761
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Jul 22 at 6:06PM
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 Dickson Commercial Group
Investment Insights
Based on property information with market context.
This 723 square foot office building is located at the corner of Frazer Avenue and South 19th Street within the Sparks industrial submarket. It includes a small fenced and gated yard, along with a connected shop area that provides additional storage or covered parking. The layout and yard configuration make it well-suited for construction-related or trade users seeking a functional, secure property. The property is situated within a designated Opportunity Zone, offering potential tax advantages for qualified investors.
Key Highlights
- Functional layout and secure, gated yard ideal for construction or trade businesses
- Located in the highly sought‑after Sparks industrial submarket
- Situated within a designated Opportunity Zone, offering potential tax advantages
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
$10,232
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
3.02%
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%
$204,640
$204.6K
Cap Rate 7%
$146,171
$146.2K
Cap Rate 9%
$113,689
$113.7K
Market Conditions
NOI Build-Up for 723 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
$16.1K $22.20/SF
− Vacancy
−$2.4K −$3.33/SF
EGI
$13.6K $18.87/SF
− OpEx
−$3.4K −$4.72/SF
NOI
$10.2K $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%
$204,640
Cap Rate 7%
$146,171
Cap Rate 9%
$113,689
Alternative Uses
Best Use
Office B
$146.2K
$127.9K – $170.5K
NOI $10,232 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$255.9K
$223.9K – $298.6K
NOI $17,914 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,141
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?
Office building - 723 SF office building with yard in Sparks, Nevada.
Where is this office building located?
The property is located at 1900 Frazer Ave Sparks, NV.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Functional layout and secure, gated yard ideal for construction or trade businesses; Located in the highly sought‑after Sparks industrial submarket; Situated within a designated Opportunity Zone, offering potential tax advantages
