Restaurant with Upper-Level
For Sale
$1,065,000
351 Silver Street, Elko, NV 89801
CommercialSale, Elko, NV
Property Size7,289 SF
Lot Size0.17 Acres
Price / SF$146.11
Days on Market8
Property Features for 351 Silver Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
ZC
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Window features
Skylight(s)
Interior features
WetBar, Skylights, VaultedCeilings
Fireplace
1
Subdivision
ZX-Other/None
View
City
Standard status
Active
APN
001-344-003
Size
7,289 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
5628
Utilities
Heating system
Forced Air, Fireplace(s), Electric (Heating)
Cooling system
Central Air
Amenities
full bar
gas fireplace
wine rack
ADA-compliant bathrooms
Building Details
Year built
1948
Flooring type
Tile, Concrete, Carpet, Vinyl
Building materials
Stucco, WoodSiding
Roof type
Asphalt
Listing Agency:
eXp Realty, LLC
(775) 397-0306
Listed By:
Julie Rij · License #S.0183328
(435) 760-4770
Added: Sep 29
Changed: Oct 2
Last Checked: Oct 6 at 6:06AM
MLS# 3628489
Copyright © 2026 Elko County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,289-square-foot restaurant property in downtown Elko includes a 3,393-square-foot dining operation with a full bar, wine rack, gas fireplace, two walk-in coolers, and two accessible restrooms. The building was constructed in 1948 and sits on a 0.17-acre lot. Six dedicated parking spaces serve the property, with street parking and a city lot across the street also identified for customer use.
Additional space includes 1,633 square feet on the upper level and 2,263 square feet in an unfinished basement. The upper floor has been identified for possible private dining, office, or lodging use; the basement provides further space for future plans.
Additional space includes 1,633 square feet on the upper level and 2,263 square feet in an unfinished basement. The upper floor has been identified for possible private dining, office, or lodging use; the basement provides further space for future plans.
Key Highlights
- 3,393‑square‑foot restaurant with full bar, wine rack, gas fireplace, and two walk‑in coolers
- 1,633 square feet of upper‑level space
- 2,263 square feet of unfinished basement space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,671
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,533,420
$1.5M
Cap Rate 7%
$1,095,300
$1.1M
Cap Rate 9%
$851,900
$851.9K
Market Conditions
NOI Build-Up for 7,289 SF
Gross rent
$109.3K $15.00/SF
− Vacancy
−$7.1K −$0.98/SF
EGI
$102.2K $14.03/SF
− OpEx
−$25.6K −$3.51/SF
NOI
$76.7K $10.52/SF
Area
Elko County, NV
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,533,420
Cap Rate 7%
$1,095,300
Cap Rate 9%
$851,900
Alternative Uses
Best Use
Specialty Retail
$1.10M
$958.4K – $1.28M
NOI $76,671 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,133 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,170
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The 1948 property combines dining space, a full bar, and additional areas above and below grade.
Where is this conventional restaurant located?
The property is located at 351 Silver Street Elko, NV.
What is the asking price?
The asking price for this property is $1,065,000.
What are key features of this property?
This property features: 3,393‑square‑foot restaurant with full bar, wine rack, gas fireplace, and two walk‑in coolers; 1,633 square feet of upper‑level space; 2,263 square feet of unfinished basement space
