Medical Office Building with C-2
For Sale
Contact for pricing
415 US Highway 95A S, Fernley, NV 89408
C-2-zoned medical property leased under a Modified Gross structure with a corporate guarantee.
Property Size2,400 SF
Price / SF$364.58
Days on Market59
Property Features for 415 US Highway 95A S
General Information
Standard status
Active
Size
2,400 SF
Class
A
Property subtype
Office
Zoning
C-2
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Net Lease
Net Operating Income
$42,500
Additional Details
Highway Access
Yes
Building Details
Year Built
1999
Year Renovated
2014
Buildings
1
Stories
1
Units
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
KW Commercial - Group 1, Inc.
(775) 240-5143
Listed By:
Ricci Rodriguez-Elkins · License #BS.146909.MGR
Source:
Crexi
Added: Jul 4
Changed: Aug 30
Last Checked: Aug 30 at 8:03PM
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 KW Commercial - Group 1, Inc.
Investment Insights
Based on property information with market context.
Located at 415 US Highway 95A S, Building A, in Fernley’s Sierra Meadows Business Plaza, this medical office property was constructed in 1999 and received a professional healthcare build-out in 2014. The premises are leased to Pritchett Eye Care Associates under a Modified Gross lease, with a corporate guarantee from Keplr Vision, LLC.
Property maintenance includes a preventative program for the roof and HVAC systems. Community in Common services address the shared areas and landscaping within the plaza. The property carries C-2 zoning and is situated in Fernley, Nevada, providing an established medical-office setting with a named healthcare occupant and documented building improvements.
Property maintenance includes a preventative program for the roof and HVAC systems. Community in Common services address the shared areas and landscaping within the plaza. The property carries C-2 zoning and is situated in Fernley, Nevada, providing an established medical-office setting with a named healthcare occupant and documented building improvements.
Key Highlights
- Medical office property at 415 US Highway 95A S, Building A, Fernley, NV 89408
- Leased to Pritchett Eye Care Associates under a Modified Gross lease
- Corporate guarantee provided by Keplr Vision, LLC
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
$42,426
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
4.85%
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%
$848,520
$848.5K
Cap Rate 7%
$606,086
$606.1K
Cap Rate 9%
$471,400
$471.4K
Market Conditions
NOI Build-Up for 2,400 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
$69.4K $28.92/SF
− Vacancy
−$12.8K −$5.35/SF
EGI
$56.6K $23.57/SF
− OpEx
−$14.1K −$5.89/SF
NOI
$42.4K $17.68/SF
Area
Lyon County, NV
Vacancy
18.50%
Lease Rate
$28.92 /SF/Yr
Expense Ratio
25.00%
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%
$848,520
Cap Rate 7%
$606,086
Cap Rate 9%
$471,400
Alternative Uses
Best Use
Office B
$606.1K
$530.3K – $707.1K
NOI $42,426 @ 7.0% cap · market cap 4.85%
Second Best
Healthcare Medical
$484.7K
$424.1K – $565.5K
NOI $33,929 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$739.6K
$647.2K – $862.9K
NOI $51,775 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89408, NV
23,201
Population
9,039
Households
2.6
Avg Household Size
37
Median Age
16%
College-Educated
91%
High-School Grad
464.1 sq mi
ZIP Area
50
Density / Sq Mi
$87,723
Median Household Income
$46,808
Median Earnings
$1,504
Median Rent
$352,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - C-2-zoned medical property leased under a Modified Gross structure with a corporate guarantee.
Where is this medical office space located?
The property is located at 415 US Highway 95A S Fernley, NV.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Medical office property at 415 US Highway 95A S, Building A, Fernley, NV 89408; Leased to Pritchett Eye Care Associates under a Modified Gross lease; Corporate guarantee provided by Keplr Vision, LLC
