Office Condo
For Sale
Contact for pricing
2225 Green Vista Dr., Sparks, NV 89431
Office and retail functionality with PD zoning, Land Use 410 designation, and municipal water and sewer service.
Property Size1,260 SF
Lot Size0.03 Acres
Price / SF$317.46
Days on Market17
Property Features for 2225 Green Vista Dr.
General Information
Standard status
Active
Size
1,260 SF
Lot size
0.03 Acres
Property subtype
Office, Retail
Zoning
PD zoning - Land Use 410
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1996
Listing Agency:
Logic Commercial Real Estate Reno
(775) 386-9727
Listed By:
Michael Keating · License #NV# S.174942
Source:
Crexi
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 28 at 9:50AM
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 Logic Commercial Real Estate Reno
Investment Insights
Based on property information with market context.
This office condo unit provides 1,260 SF of commercial space within the established Wildcreek Business Park. Built in 1996, the property supports office and retail use and occupies a 0.028-acre parcel. PD zoning applies, with a Land Use 410 designation.
Municipal water and sewer serve the property. The site is located at 2225 Green Vista Dr. in Sparks, Nevada, with access just off N. McCarran Blvd. The US-395 on/off ramp is approximately 1 mile away.
Municipal water and sewer serve the property. The site is located at 2225 Green Vista Dr. in Sparks, Nevada, with access just off N. McCarran Blvd. The US-395 on/off ramp is approximately 1 mile away.
Key Highlights
- 1,260 SF office and retail condo unit
- 0.028‑acre parcel in Wildcreek Business Park
- Built in 1996
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
$29,139
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
7.28%
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%
$582,780
$582.8K
Cap Rate 7%
$416,271
$416.3K
Cap Rate 9%
$323,767
$323.8K
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
$43.1K $34.20/SF
− Vacancy
−$1.5K −$1.16/SF
EGI
$41.6K $33.04/SF
− OpEx
−$12.5K −$9.91/SF
NOI
$29.1K $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%
$582,780
Cap Rate 7%
$416,271
Cap Rate 9%
$323,767
Alternative Uses
Best Use
Retail
$416.3K
$364.2K – $485.7K
NOI $29,139 @ 7.0% cap · market cap 7.28%
Second Best
Office B
$254.7K
$222.9K – $297.2K
NOI $17,832 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$446.0K
$390.3K – $520.3K
NOI $31,220 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
363
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 and retail functionality with PD zoning, Land Use 410 designation, and municipal water and sewer service.
Where is this office units located?
The property is located at 2225 Green Vista Dr. Sparks, NV.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,260 SF office and retail condo unit; 0.028‑acre parcel in Wildcreek Business Park; Built in 1996
