Professional Office
New
For Sale
$378,000
2215 Green Vista Dr #301, Sparks, NV 89431
Office condominium positioned within an established business park environment.
Property Size1,260 SF
Price / SF$300
Days on Market2
Property Features for 2215 Green Vista Dr #301
General Information
Standard status
Active
Size
1,260 SF
Class
B
Property subtype
Office
Additional Details
Office Units
1
Building Details
Building Size
1,260 SF
Year Built
1996
Listed By:
Pat Riggs · License #NV #Lic# S.180878
(775) 624-3964
Source:
Corfac
Added: Sep 2
Last Checked: Sep 2 at 2:07PM
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 Pat Riggs
Investment Insights
Based on property information with market context.
Unit 301 is a professional office condominium offering approximately 1,260 square feet of space. The property was constructed in 1996 and forms part of Wildcreek Business Park.
The office is located at 2215 Green Vista Dr in Sparks, Nevada, providing a defined condominium setting within an established commercial property. The unit designation and office format support straightforward identification for occupants seeking a dedicated professional workspace.
The office is located at 2215 Green Vista Dr in Sparks, Nevada, providing a defined condominium setting within an established commercial property. The unit designation and office format support straightforward identification for occupants seeking a dedicated professional workspace.
Key Highlights
- Approximately 1,260 SF professional office condominium
- Unit 301 at 2215 Green Vista Dr
- Located in Wildcreek Business Park
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
$17,832
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
4.72%
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%
$356,640
$356.6K
Cap Rate 7%
$254,743
$254.7K
Cap Rate 9%
$198,133
$198.1K
Market Conditions
NOI Build-Up for 1,260 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
$28.0K $22.20/SF
− Vacancy
−$4.2K −$3.33/SF
EGI
$23.8K $18.87/SF
− OpEx
−$5.9K −$4.72/SF
NOI
$17.8K $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%
$356,640
Cap Rate 7%
$254,743
Cap Rate 9%
$198,133
Alternative Uses
Best Use
Office B
$254.7K
$222.9K – $297.2K
NOI $17,832 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$446.0K
$390.3K – $520.3K
NOI $31,220 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
333
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 units - Office condominium positioned within an established business park environment.
Where is this office units located?
The property is located at 2215 Green Vista Dr #301 Sparks, NV.
What is the asking price?
The asking price for this property is $378,000.
What are key features of this property?
This property features: Approximately 1,260 SF professional office condominium; Unit 301 at 2215 Green Vista Dr; Located in Wildcreek Business Park
