Fernley Mixed-Use Investment
For Sale
Contact for pricing
280 E Main Street, Fernley, NV 89408
Multi-parcel property with service garage, station, car wash.
Property Size6,075 SF
Lot Size1.90 Acres
Price / SF$292.18
Days on Market155
Property Features for 280 E Main Street
General Information
Standard status
Active
Size
6,075 SF
Lot size
1.90 Acres
Property subtype
Special Purpose
Building Details
Year Built
1937
Listing Agency:
CENTURY 21 PRIME
Listed By:
Brittany Hall · License #NV BS.0146038
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 11 at 12:26PM
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 CENTURY 21 PRIME
Investment Insights
Based on property information with market context.
This multi-parcel, mixed-use property is situated on Main Street in Fernley, Nevada. The property spans 1.9 acres and includes five buildings across four parcels. Buildings include a three-bay service garage, a service station office with a covered fuel station, and three residential or office spaces. The property also features a 0.57-acre fenced and lit storage yard and an existing self-serve car wash. Additional out-buildings, including sheds and a propane filling station, are also located on the property. The main parcels are divided by an additional parcel leased from Union Pacific Railroad. The property's frontage on Main Street offers potential for signage and visibility. The location is less than 15 minutes from Tahoe Reno Industrial Center, approximately 30 minutes from Reno, and about 40 minutes from Fallon Naval Air Base. The zoning allows for multiple uses, making the property suitable for expansion or redevelopment.
Key Highlights
- Prime Main Street location in Fernley, NV with high visibility and signage potential.
- Large 1.9‑acre multi‑parcel property with mixed‑use zoning, ideal for expansion or redevelopment.
- Includes 5 buildings: 3‑bay service garage, service station with fuel, and 3 residential/office spaces.
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
$106,507
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
6.00%
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%
$2,130,140
$2.1M
Cap Rate 7%
$1,521,529
$1.5M
Cap Rate 9%
$1,183,411
$1.2M
Market Conditions
NOI Build-Up for 6,075 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
$145.8K $24.00/SF
− Vacancy
−$3.8K −$0.62/SF
EGI
$142.0K $23.38/SF
− OpEx
−$35.5K −$5.84/SF
NOI
$106.5K $17.53/SF
Area
Lyon County, NV
Vacancy
2.60%
Lease Rate
$24.00 /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%
$2,130,140
Cap Rate 7%
$1,521,529
Cap Rate 9%
$1,183,411
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,507 @ 7.0% cap · market cap 6.00%
Second Best
Retail
$1.10M
$960.9K – $1.28M
NOI $76,874 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $131,057 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
166k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 22%
Groceries 19%
Beauty & Spa 3%
McDonald's
Dining
21,699 visits/mo
0.4 miles
Raley's
Groceries
20,567 visits/mo
0.4 miles
Taco Bell
Dining
14,898 visits/mo
0.4 miles
Jack in the Box
Dining
11,976 visits/mo
0.4 miles
Shell
Shops & Services
11,634 visits/mo
0.4 miles
Demographics for 89408, NV
23,201
Population
9,039
Households
2.6
Avg Household Size
37
Median Age
16%
College-Educated
91%
High-School Grad
464.1 sq mi
ZIP Area
50
Density / Sq Mi
$87,723
Median Household Income
$46,808
Median Earnings
$1,504
Median Rent
$352,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-parcel property with service garage, station, car wash.
Where is this mixed-use property located?
The property is located at 280 E Main Street Fernley, NV.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Prime Main Street location in Fernley, NV with high visibility and signage potential.; Large 1.9‑acre multi‑parcel property with mixed‑use zoning, ideal for expansion or redevelopment.; Includes 5 buildings: 3‑bay service garage, service station with fuel, and 3 residential/office spaces.
