Leased Medical Office
New
For Sale
$1,090,000
2135 GREEN VISTA Suite 108 & 109, Sparks, NV 89431
Medical office space at 2135 Green Vista is occupied under a long-term NNN lease.
Property Size3,966 SF
Days on Market2
Property Features for 2135 GREEN VISTA Suite 108 & 109
General Information
Standard status
Active
Size
3,966 SF
Class
B
Property subtype
Office
Occupancy
100%
Building Details
Building Size
3,966 SF
Year Built
1998
Tenancy
Single
Listing Agency:
Johnson Group Commercial
Listed By:
Richard Johnson · License #NV #B.58025
(775) 741-0829
Source:
Johnsongroup
Added: Sep 16
Last Checked: Sep 16 at 2:33PM
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 Johnson Group Commercial
Investment Insights
Based on property information with market context.
This medical office offering includes Suite 108 and Suite 109 at 2135 Green Vista in Sparks, Nevada. The property was constructed in 1998 and is occupied by Allergy & Asthma Association, which has operated from the location since December 1, 2000.
The tenancy is structured under a long-term NNN lease, providing an established occupancy profile for a purchaser seeking leased medical office space. The offering is identified for sale as a medical office property.
The tenancy is structured under a long-term NNN lease, providing an established occupancy profile for a purchaser seeking leased medical office space. The offering is identified for sale as a medical office property.
Key Highlights
- Suite 108 and Suite 109 at 2135 Green Vista, Sparks, NV 89431
- Medical office property constructed in 1998
- Occupied by Allergy & Asthma Association since December 1, 2000
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
$57,796
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
5.30%
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%
$1,155,920
$1.2M
Cap Rate 7%
$825,657
$825.7K
Cap Rate 9%
$642,178
$642.2K
Market Conditions
NOI Build-Up for 3,966 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
$104.7K $26.40/SF
− Vacancy
−$8.4K −$2.11/SF
EGI
$96.3K $24.29/SF
− OpEx
−$38.5K −$9.72/SF
NOI
$57.8K $14.57/SF
Area
Sparks, NV
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$1,155,920
Cap Rate 7%
$825,657
Cap Rate 9%
$642,178
Alternative Uses
Best Use
Healthcare Medical
$825.7K
$722.5K – $963.3K
NOI $57,796 @ 7.0% cap · market cap 5.30%
Second Best
Office B
$801.8K
$701.6K – $935.5K
NOI $56,129 @ 7.0% cap · market cap 5.15%
Theoretical Best
Specialty Retail
$1.40M
$1.23M – $1.64M
NOI $98,269 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
363
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 Office in West region
Questions? Ask Rey
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- Petco Vaccination Clinic — 2970 Northtowne Ln, Reno, NV 89512
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space at 2135 Green Vista is occupied under a long-term NNN lease.
Where is this medical office space located?
The property is located at 2135 GREEN VISTA Suite 108 & 109 Sparks, NV.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Suite 108 and Suite 109 at 2135 Green Vista, Sparks, NV 89431; Medical office property constructed in 1998; Occupied by Allergy & Asthma Association since December 1, 2000
