Six-Unit Apartment
New
For Sale
$1,580,000
414 F Street, Sparks, NV 89431
COMMERCIAL - Sparks, NV
Property Size5,974 SF
Lot Size0.28 Acres
Price / SF$264.48
Days on Market3
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, Electric (Heating), Forced Air
Cooling system
Window Unit(s), Wall/Window Unit(s), Electric
Water source
Public
Amenities
in-unit washers and dryers
Building Details
Year built
2018
Floors in Building
2
Flooring type
Varies
Roof type
Composition, Shingle
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: Aug 11
Last Checked: Aug 12 at 1:06AM
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 5,974-square-foot apartment property contains six units arranged as a fourplex and a separate duplex on a 0.28-acre parcel. Built in 2018, the asset includes townhome-style units, in-unit washers and dryers, and additional garage space. Flooring varies among the units, with heating provided by natural gas, electric, and forced-air systems. Cooling includes window or wall/window units.
The property is in Sparks, Nevada, near Legends Shopping Mall and other shopping, dining, and entertainment options. Main roadways provide access to surrounding amenities. Public water and public sewer serve the property, with cable available. Parking includes assigned spaces and alley access.
The property is in Sparks, Nevada, near Legends Shopping Mall and other shopping, dining, and entertainment options. Main roadways provide access to surrounding amenities. Public water and public sewer serve the property, with cable available. Parking includes assigned spaces and alley access.
Key Highlights
- Six total units configured as a fourplex and separate duplex
- 5,974 square feet on 0.28 acres
- Built in 2018
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
$66,479
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
4.21%
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%
$1,329,580
$1.3M
Cap Rate 7%
$949,700
$949.7K
Cap Rate 9%
$738,656
$738.7K
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
$126.2K $21.12/SF
− Vacancy
−$5.3K −$0.89/SF
EGI
$120.9K $20.23/SF
− OpEx
−$54.4K −$9.10/SF
NOI
$66.5K $11.13/SF
Area
Sparks, NV
Vacancy
4.20%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
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%
$1,329,580
Cap Rate 7%
$949,700
Cap Rate 9%
$738,656
Alternative Uses
Best Use
Apartment 5plus
$949.7K
$831.0K – $1.11M
NOI $66,479 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
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
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - A 2018 property combines a fourplex and duplex with in-unit laundry and garage space.
Where is this apartment building 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 total units configured as a fourplex and separate duplex; 5,974 square feet on 0.28 acres; Built in 2018
