Quadplex Property with Separate
For Sale
$1,580,000
414 F Street, Sparks, NV 89431
Commercial Sale, Sparks, NV
Property Size5,974 SF
Lot Size0.28 Acres
Price / SF$264.48
Days on Market48
Property Features for 414 F Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mud
Parking features
Assigned, Alley
Security features
Security Lighting
Window features
Double Pane Windows, Single Pane Window(s), Blinds
Subdivision
O'Sullivan Addition
Lot features
Corner Lot, Sprinklers In Front, Sprinklers In Rear
Standard status
Active
APN
033-187-06
Size
5,974 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Annual Amount
9926
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Electric (Heating)
Cooling system
Window Unit(s), Electric, Wall/Window Unit(s)
Water source
Public
Amenities
in-unit washer/dryer
Building Details
Year built
2018
Floors in Building
2
Flooring type
Varies
Roof type
Shingle, Composition
Additional Structures
Storage
Listing Agency:
Sierra Nevada Properties-Reno
(775) 689-8228
Listed By:
Dalton Plummer · License #S.203083
(775) 815-8441
Added: Aug 10
Changed: Sep 12
Last Checked: Sep 26 at 7:06AM
MLS# 260010353
Copyright © 2026 Northern Nevada Regional MLS, Inc. 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 residential income property combines a newer fourplex with townhome-style units and a separate duplex on one parcel, creating six total units across a practical configuration. The property measures 5,974 square feet on 0.28 acres and was built in 2018. Each unit includes an in-unit washer and dryer, while additional garage space provides separate functional utility. Flooring varies by unit. Heating is provided through forced air, natural gas, and electric systems, with wall or window cooling units. Assigned and alley parking are available.
The property is located at 414 F Street in Sparks, Nevada, near Legends Shopping Mall and major shopping, dining, and entertainment options. Public water and public sewer serve the property, with cable available. Shingle and composition roofing are reported, and the zoning is listed as Mud.
The property is located at 414 F Street in Sparks, Nevada, near Legends Shopping Mall and major shopping, dining, and entertainment options. Public water and public sewer serve the property, with cable available. Shingle and composition roofing are reported, and the zoning is listed as Mud.
Key Highlights
- Six‑unit configuration with a fourplex and separate duplex on one parcel
- 5,974 square feet on a 0.28‑acre parcel
- Fourplex built in 2018 with townhome‑style units
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
$74,281
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
4.70%
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%
$1,485,620
$1.5M
Cap Rate 7%
$1,061,157
$1.1M
Cap Rate 9%
$825,344
$825.3K
Market Conditions
NOI Build-Up for 5,974 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
$111.1K $18.60/SF
− Vacancy
−$5.0K −$0.84/SF
EGI
$106.1K $17.76/SF
− OpEx
−$31.8K −$5.33/SF
NOI
$74.3K $12.43/SF
Area
Sparks, NV
Vacancy
4.50%
Lease Rate
$18.60 /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%
$1,485,620
Cap Rate 7%
$1,061,157
Cap Rate 9%
$825,344
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$928.5K – $1.24M
NOI $74,281 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$949.7K
$831.0K – $1.11M
NOI $66,479 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$2.11M
$1.85M – $2.47M
NOI $148,023 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
739
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Six-unit residential income property with townhome-style layouts, in-unit laundry, and separate garage space.
Where is this quadplex located?
The property is located at 414 F Street Sparks, NV.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: Six‑unit configuration with a fourplex and separate duplex on one parcel; 5,974 square feet on a 0.28‑acre parcel; Fourplex built in 2018 with townhome‑style units
