Remodeled Flex and Warehouse
For Sale
$2,900,000
240 7TH, Elko, NV 89801
Fully remodeled historic building with office-ready features plus an attached warehouse with overhead cranes and shared utilities.
Property Size11,517 SF
Price / SF$251.80
Days on Market198
Property Features for 240 7TH
General Information
Standard status
Active
Size
11,517 SF
Total Parking Spaces
8
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Heavy Power
Yes
Building Details
Year Built
1920
Listing Agency:
Coldwell Banker Excel
Listed By:
Sierra Petersen
(775) 688-4000
Source:
Ferrari-lund
Added: Feb 15
Changed: Aug 31
Last Checked: Aug 31 at 8:22PM
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 Coldwell Banker Excel
Investment Insights
Based on property information with market context.
This fully remodeled historic Lamoille Power building offers an industrial-charm setting with modern performance for office, event, or creative studio use. The main building includes preserved historic generator elements, original fixtures, new LED lighting, radiant overhead heat, and a kitchenette. A manual 10-ton overhead crane is installed in the main space.
A 3,408 SF warehouse is located alongside the main building and is supported by shared water/sewer service and LED lighting throughout the property. The warehouse is equipped with two 2-ton overhead cranes and includes a high-capacity air compressor for pneumatic tools and equipment.
The property is served by a 200-amp, 3-phase electrical service, with both gas and electric meters for flexible utility usage. Parking consists of 7 standard spaces and 1 ADA-compliant space, and the site is situated near the city corridor for additional parking.
A 3,408 SF warehouse is located alongside the main building and is supported by shared water/sewer service and LED lighting throughout the property. The warehouse is equipped with two 2-ton overhead cranes and includes a high-capacity air compressor for pneumatic tools and equipment.
The property is served by a 200-amp, 3-phase electrical service, with both gas and electric meters for flexible utility usage. Parking consists of 7 standard spaces and 1 ADA-compliant space, and the site is situated near the city corridor for additional parking.
Key Highlights
- Fully remodeled historic Lamoille Power building with 8,901 SF main space plus a 3,408 SF attached warehouse
- Main building includes kitchenette, new LED lighting, and radiant overhead heat, plus original fixtures and a manual 10‑ton overhead crane
- Warehouse has two 2‑ton overhead cranes and is equipped with a high‑capacity air compressor for pneumatic tools
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
$197,252
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
6.80%
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%
$3,945,040
$3.9M
Cap Rate 7%
$2,817,886
$2.8M
Cap Rate 9%
$2,191,689
$2.2M
Market Conditions
NOI Build-Up for 11,517 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
$304.0K $26.40/SF
− Vacancy
−$41.0K −$3.56/SF
EGI
$263.0K $22.84/SF
− OpEx
−$65.8K −$5.71/SF
NOI
$197.3K $17.13/SF
Area
Elko County, NV
Vacancy
13.50%
Lease Rate
$26.40 /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%
$3,945,040
Cap Rate 7%
$2,817,886
Cap Rate 9%
$2,191,689
Alternative Uses
Best Use
Office B
$2.82M
$2.47M – $3.29M
NOI $197,252 @ 7.0% cap · market cap 6.80%
Second Best
Warehouse
$324.0K
$283.5K – $378.0K
NOI $22,682 @ 7.0% cap · market cap 0.78%
Theoretical Best
Office A
$3.66M
$3.20M – $4.27M
NOI $256,178 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89801, NV
26,250
Population
11,079
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
87%
High-School Grad
1,212.7 sq mi
ZIP Area
22
Density / Sq Mi
$83,777
Median Household Income
$48,886
Median Earnings
$1,185
Median Rent
$278,700
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?
Flex space - Fully remodeled historic building with office-ready features plus an attached warehouse with overhead cranes and shared utilities.
Where is this flex space located?
The property is located at 240 7TH Elko, NV.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Fully remodeled historic Lamoille Power building with 8,901 SF main space plus a 3,408 SF attached warehouse; Main building includes kitchenette, new LED lighting, and radiant overhead heat, plus original fixtures and a manual 10‑ton overhead crane; Warehouse has two 2‑ton overhead cranes and is equipped with a high‑capacity air compressor for pneumatic tools
