Multifamily
New
For Sale
$4,100,000
2110 2180 2220 18th St, Sparks, NV 89431
The multifamily property was built in 1969.
Property Size17,024 SF
Days on Market5
Property Features for 2110 2180 2220 18th St
General Information
Standard status
Active
Size
17,024 SF
Property subtype
Multifamily
Building Details
Building Size
17,024 SF
Year Built
1969
Listed By:
Gerrit Hillebrand · License #NV #S.186721
(775) 525-4202
Source:
Corfac
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 3:21AM
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 Gerrit Hillebrand
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Investment Insights
Based on property information with market context.
This multifamily property in Sparks, Nevada, dates to 1969.
Key Highlights
- Built in 1969
- Located in Sparks, Nevada
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$189,445
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,788,900
$3.8M
Cap Rate 7%
$2,706,357
$2.7M
Cap Rate 9%
$2,104,944
$2.1M
Market Conditions
NOI Build-Up for 17,024 SF
Gross rent
$359.5K $21.12/SF
− Vacancy
−$15.1K −$0.89/SF
EGI
$344.4K $20.23/SF
− OpEx
−$155.0K −$9.10/SF
NOI
$189.4K $11.13/SF
Area
Sparks, NV
Vacancy
4.20%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,788,900
Cap Rate 7%
$2,706,357
Cap Rate 9%
$2,104,944
Alternative Uses
Best Use
Apartment 5plus
$2.71M
$2.37M – $3.16M
NOI $189,445 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.03M
$5.27M – $7.03M
NOI $421,819 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - The multifamily property was built in 1969.
Where is this multifamily property located?
The property is located at 2110 2180 2220 18th St Sparks, NV.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: Built in 1969; Located in Sparks, Nevada
