Listing Agency: Keller Williams Group One Inc. Show Phone

Listed By: Robert Campbell · License #S.191406 Show Phone

Source: Exprealty

Added: Apr 7 Changed: Oct 8 Last Checked: Oct 16 at 2:51PM

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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 Keller Williams Group One Inc.

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Investment Insights

Based on property information with market context.

This well-maintained office condominium is located in the established Wildcreek Business Park in Sparks. The functional single-level layout features approximately 1,260 square feet with a bright, open floor plan and abundant natural light. The premium end-unit positioning with only one shared wall and three sides of windows provides enhanced privacy and usability. It includes an ADA-accessible restroom, central heating and air, and a flexible layout suitable for a variety of professional uses. The property is equipped with both 110V and 220/240V electrical service, including dedicated washer/dryer hookups. The professional park setting offers convenient access to major roads, shopping, and services. The monthly HOA covers exterior maintenance and common area services, including sewer, water, and trash. This is an ideal opportunity for an owner-user seeking to control occupancy costs through ownership. The property is vacant and easy to show.

Key Highlights

• Premium end‑unit: enjoy abundant natural light and enhanced privacy with only one shared wall and three sides of windows.
• Functional, single‑level layout with approximately 1,260 square feet featuring a bright, open floor plan.
• Located in the established Wildcreek Business Park with convenient access to major roads, shopping, and services.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,832

Cap Rate

4.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$356,640 $356.6K

Cap Rate 7%

$254,743 $254.7K

Cap Rate 9%

$198,133 $198.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,260 SF

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 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 (±1% cap)

NOI $17,832 @ 7.0% cap · market cap 4.82%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$446.0K

$390.3K – $520.3K (±1% cap)

NOI $31,220 @ 7.0% cap · market cap 8.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Law Firm Big Box & Wholesale Store Auto Repair Shop Building Supply Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Well-maintained office condo in Wildcreek Business Park, Sparks.

Where is this office units located?

The property is located at 308-2225 Green Vista Dr Sparks, NV.

What is the asking price?

The asking price for this property is $370,000.

What are key features of this property?

This property features: Premium end‑unit: enjoy abundant natural light and enhanced privacy with only one shared wall and three sides of windows.; Functional, single‑level layout with approximately 1,260 square feet featuring a bright, open floor plan.; Located in the established Wildcreek Business Park with convenient access to major roads, shopping, and services.