Listing Agency: eXp Realty Show Phone

Listed By: Julie Rij · License #S.0183328 Show Phone

Source: Exprealty

Added: Mar 26 Changed: Oct 5 Last Checked: Oct 7 at 1:44PM

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Investment Insights

Based on property information with market context.

This established restaurant, a long-standing community fixture, offers 3,393 square feet of restaurant space, along with an additional 1,633 square feet upstairs, and 2,263 square feet of unfinished basement space, situated on a 7,400 square foot lot. The property includes its own parking lot and the potential to utilize the corridor for additional parking. The building features a dining area with an approximate capacity of 160 people and a recently renovated full bar, complete with a 3-tap kegerator, wine rack, wine fridge, and gas fireplace. Additional features include a register counter, two ADA-compliant bathrooms, two walk-in coolers, and built-in shelving. The upstairs area, previously used for rentals, presents various possibilities. Recent upgrades throughout the building contribute to a warm, upscale atmosphere, suitable for continuing the existing business or establishing a new concept.

Key Highlights

• Established restaurant location with decades of service in the community.
• Significant restaurant space: 3,393 sqft dining area with 160‑person capacity.
• Recently renovated full bar with 3‑tap kegerator, wine rack, wine fridge, and gas fireplace.**

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 (±1% cap)

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 (±1% cap)

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

Luciano's Restaurant

Suggested Use

Top Pick Pharmacy Garden Center Parking Lot & Garage Furniture & Home Goods (Bike/Boat/Book/etc) Store HVAC Service

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

1,044

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 Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Restaurant with dining space, bar, parking, and additional upstairs space.

Where is this conventional restaurant located?

The property is located at 351 Silver St 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: Established restaurant location with decades of service in the community.; Significant restaurant space: **3,393 sqft dining area with 160‑person capacity.**; Recently renovated full bar with 3‑tap kegerator, wine rack, wine fridge, and gas fireplace.**