Historic Retail
New
For Sale
$1,000,000
406 Pyramid Way, Sparks, NV 89431
Renovated brick construction and a single-level plan support continued retail use or potential office conversion.
Property Size3,623 SF
Lot Size0.33 Acres
Price / SF$276.01
Days on Market5
Property Features for 406 Pyramid Way
General Information
Standard status
Active
Size
3,623 SF
Total Parking Spaces
16
Lot size
0.33 Acres
Property subtype
Vacant-User
Site & Location
Corner Location
Yes
Traffic Count
20,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$1,000,000
Amenities
fully fenced and gated parking lot
Brick Construction
Owner/User or Investment Opportunity
Fenced and Gated On-Site Parking
Building Details
Building Size
3,623 SF
Year Built
1917
Buildings
1
Stories
1
Construction
brick
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Marcus & Millichap - Reno
Listed By:
Bret Nicholson · License #License(s): NV: S.0183859
(775) 348-5234
Source:
Marcusmillichap
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 12 at 4:52PM
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 Marcus & Millichap - Reno
Investment Insights
Based on property information with market context.
This freestanding, single-story brick storefront contains 3,623 square feet on a 0.33-acre parcel. Built in 1917 as a schoolhouse, it is listed on the National Register of Historic Places as the Mary Lee Nichols School. The renovated building currently operates as a quilting and fabric shop; its layout supports continued retail activity or potential professional or medical office conversion.
The property sits at Pyramid Way and D Street, two blocks north of the Interstate 80 interchange. Frontage and signage are visible to approximately 20,000 vehicles per day. A fenced, gated lot provides 16 on-site parking spaces, with street parking nearby.
The sale is subject to a three-month seller leaseback to allow time for relocation.
The property sits at Pyramid Way and D Street, two blocks north of the Interstate 80 interchange. Frontage and signage are visible to approximately 20,000 vehicles per day. A fenced, gated lot provides 16 on-site parking spaces, with street parking nearby.
The sale is subject to a three-month seller leaseback to allow time for relocation.
Key Highlights
- 3,623‑square‑foot, single‑story brick building on 0.33 acres
- Built in 1917; listed as the Mary Lee Nichols School on the National Register of Historic Places
- Current quilting and fabric retail configuration; potential professional or medical office conversion
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,786
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,675,720
$1.7M
Cap Rate 7%
$1,196,943
$1.2M
Cap Rate 9%
$930,956
$931.0K
Market Conditions
NOI Build-Up for 3,623 SF
Gross rent
$123.9K $34.20/SF
− Vacancy
−$4.2K −$1.16/SF
EGI
$119.7K $33.04/SF
− OpEx
−$35.9K −$9.91/SF
NOI
$83.8K $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 Rate 5%
$1,675,720
Cap Rate 7%
$1,196,943
Cap Rate 9%
$930,956
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $83,786 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.50M
NOI $89,770 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
20,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
959
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- The Flower Garden Florist by Kaleo Blooms — 616 Victorian Ave, Sparks, NV 89431
- Flower Bucket Florist — 1657 Prater Way, Sparks, NV 89431
- Flower Pointe LLC a LLC — 1001 Pyramid Way, Sparks, NV 89431
Frequently Asked Questions
What type of property is this?
Storefront property - Renovated brick construction and a single-level plan support continued retail use or potential office conversion.
Where is this storefront property located?
The property is located at 406 Pyramid Way Sparks, NV.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3,623‑square‑foot, single‑story brick building on 0.33 acres; Built in 1917; listed as the Mary Lee Nichols School on the National Register of Historic Places; Current quilting and fabric retail configuration; potential professional or medical office conversion
