Retail Store and Residential
For Sale
$749,999
1921 Victorian Avenue, Sparks, NV 89431
COMMERCIAL - Sparks, NV
Property Size2,440 SF
Lot Size0.14 Acres
Price / SF$307.38
Days on Market286
Property Features for 1921 Victorian Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MUD
Parking
4
Parking features
Alley, On Street
Window features
Aluminum Frames, Single Pane Window(s)
Fencing
Chain Link
Subdivision
Newtown Tract
Directions
I-80 to Rock Blvd to Victorian Ave
Standard status
Active
APN
032-112-04
Size
2,440 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1564
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating), Natural Gas, Wall Furnace
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1921
Floors in Building
1
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Block, Frame, Wood Siding
Roof type
Shingle
Additional Structures
Residence
Listing Agency:
ERA - Realty Central · ERA Real Estate
(775) 685-2372
Listed By:
Abaid Khan · License #S.195183
(775) 636-5648
Added: Oct 28, 2025
Changed: Aug 4
Last Checked: Aug 9 at 7:06PM
MLS# 250057595
Copyright © 2026 Northern Nevada Regional MLS, Inc. 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 property includes a small retail storefront at the front and a two-story barn-styled residence at the rear. The retail space is currently vacant and has fixtures remaining, and it has previously been used as a mini neighborhood market. The residence was built in 1981 and includes alley access for the occupant, along with off-street parking.
The site is located near the intersection of Victorian and Kietzke Ln and near Rail City Casino. It is zoned MUD, which the listing notes provides flexibility for future development or continued hold.
The parcel is offered for sale with both the storefront and residential rental configuration, and is described as having potential for development or reuse. Please call the listing agent to schedule an appointment.
The site is located near the intersection of Victorian and Kietzke Ln and near Rail City Casino. It is zoned MUD, which the listing notes provides flexibility for future development or continued hold.
The parcel is offered for sale with both the storefront and residential rental configuration, and is described as having potential for development or reuse. Please call the listing agent to schedule an appointment.
Key Highlights
- Front small business location with a two‑story, barn‑styled residential rental on the back, with alley access and off‑street parking
- Front building previously used as a small retail store/mini neighborhood market; currently vacant with fixtures remaining
- Residential portion built in 1981 and features public water and public sewer connections
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
$56,428
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
7.52%
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%
$1,128,560
$1.1M
Cap Rate 7%
$806,114
$806.1K
Cap Rate 9%
$626,978
$627.0K
Market Conditions
NOI Build-Up for 2,440 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
$83.4K $34.20/SF
− Vacancy
−$2.8K −$1.16/SF
EGI
$80.6K $33.04/SF
− OpEx
−$24.2K −$9.91/SF
NOI
$56.4K $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%
$1,128,560
Cap Rate 7%
$806,114
Cap Rate 9%
$626,978
Alternative Uses
Best Use
Retail
$806.1K
$705.4K – $940.5K
NOI $56,428 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$387.9K
$339.4K – $452.6K
NOI $27,153 @ 7.0% cap · market cap 3.62%
Theoretical Best
Specialty Retail
$863.7K
$755.7K – $1.01M
NOI $60,458 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
Under-served
Demand for This Use
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 Retail 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
Frequently Asked Questions
What type of property is this?
Storefront property - Parcel near Victorian Avenue and Kietzke Lane offers a vacant retail storefront in front and a two-story residence in back.
Where is this storefront property located?
The property is located at 1921 Victorian Avenue Sparks, NV.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Front small business location with a two‑story, barn‑styled residential rental on the back, with alley access and off‑street parking; Front building previously used as a small retail store/mini neighborhood market; currently vacant with fixtures remaining; Residential portion built in 1981 and features public water and public sewer connections
