Fully Leased Neighborhood Retail
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For Sale
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2955 Vista Blvd., Sparks, NV 89434
Single-story retail property occupied by three tenants with approximately 32 months of weighted average lease term remaining.
Property Size3,268 SF
Price / SF$379.44
Days on Market7
Property Features for 2955 Vista Blvd.
General Information
Standard status
Active
Size
3,268 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$74,335
Building Details
Year Built
2003
Stories
1
Tenancy
Multi
Listing Agency:
Logic Commercial Real Estate Reno
(775) 386-9727
Listed By:
Michael Keating · License #NV# S.174942
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 1:59PM
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 single-story neighborhood retail center contains 3,268 SF and was constructed in 2003. The property is fully leased to three tenants: Smog Monkey, Little Betty Photography, and Allstate. Their complementary business uses provide a varied tenant roster within one retail asset.
Located at 2955 Vista Blvd. in Sparks, Nevada, the property is positioned within an established retail corridor. Current occupancy is 100%, and the weighted average remaining lease term is approximately 32 months. The configuration offers a straightforward commercial property profile with existing tenant operations and no vacant space identified in the provided information.
Located at 2955 Vista Blvd. in Sparks, Nevada, the property is positioned within an established retail corridor. Current occupancy is 100%, and the weighted average remaining lease term is approximately 32 months. The configuration offers a straightforward commercial property profile with existing tenant operations and no vacant space identified in the provided information.
Key Highlights
- 3,268 SF neighborhood retail center at 2955 Vista Blvd., Sparks, Nevada
- 100% leased to three tenants
- Tenants include Smog Monkey, Little Betty Photography, and Allstate
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
$75,576
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
6.09%
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%
$1,511,520
$1.5M
Cap Rate 7%
$1,079,657
$1.1M
Cap Rate 9%
$839,733
$839.7K
Market Conditions
NOI Build-Up for 3,268 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
$111.8K $34.20/SF
− Vacancy
−$3.8K −$1.16/SF
EGI
$108.0K $33.04/SF
− OpEx
−$32.4K −$9.91/SF
NOI
$75.6K $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%
$1,511,520
Cap Rate 7%
$1,079,657
Cap Rate 9%
$839,733
Alternative Uses
Best Use
Retail
$1.08M
$944.7K – $1.26M
NOI $75,576 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,974 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89434, NV
28,154
Population
11,680
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
125.5 sq mi
ZIP Area
224
Density / Sq Mi
$90,953
Median Household Income
$45,918
Median Earnings
$1,857
Median Rent
$439,000
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?
Shopping center - Single-story retail property occupied by three tenants with approximately 32 months of weighted average lease term remaining.
Where is this shopping center located?
The property is located at 2955 Vista Blvd. Sparks, NV.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: 3,268 SF neighborhood retail center at 2955 Vista Blvd., Sparks, Nevada; 100% leased to three tenants; Tenants include Smog Monkey, Little Betty Photography, and Allstate
