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 Show Phone

Source: Johnsongroup

Added: Sep 16 Changed: Oct 26 Last Checked: Nov 4 at 11:47AM

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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.

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 / Yr

$57,796

Cap Rate

5.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,155,920 $1.2M

Cap Rate 7%

$825,657 $825.7K

Cap Rate 9%

$642,178 $642.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,966 SF

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 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 (±1% cap)

NOI $57,796 @ 7.0% cap · market cap 5.30%

Second Best

Office B

$801.8K

$701.6K – $935.5K (±1% cap)

NOI $56,129 @ 7.0% cap · market cap 5.15%

Theoretical Best

Specialty Retail

$1.40M

$1.23M – $1.64M (±1% cap)

NOI $98,269 @ 7.0% cap · market cap 9.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Allergy & Asthma Associates Medical Clinic Dr. Boris M. ... Physician Dr. Leonard Shapiro, ... Physician Business Financial &Tax ... Financial Advisor Infinity Engineering, Inc. Engineering Consultant

Suggested Use

Top Pick Real Estate Agency Law Firm Auto Repair Shop Big Box & Wholesale Store Building Supply Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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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