Historic Downtown Office
For Sale
$1,320,000
421 Court Street, Elko, NV 89801
Leased, renovated 1900 office building with multiple parcels and a 5-year lease provides turnkey income for buyers.
Property Size3,680 SF
Price / SF$358.70
Days on Market67
Property Features for 421 Court Street
General Information
Standard status
Active
Size
3,680 SF
Property subtype
Office
Financials
Cap Rate
8%
Business Included
Yes
Building Details
Year Built
1900
Listing Agency:
(775) 340-2393
Listed By:
Coldwell Banker Excel
(775) 340-2393
Source:
Xome
Added: May 27
Changed: Jul 10
Last Checked: Aug 1 at 5:23AM
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 Coldwell Banker Excel
Investment Insights
Based on property information with market context.
Originally constructed in 1900 and thoughtfully renovated per county records, 421 Court Street is a well-maintained office building that retains its historic character. The offering includes four parcels: the main office building, a landscaped yard, a hillside parcel, and a storage building suited for equipment or operational use. A 5-year lease is in place with options to extend, supporting a turnkey income setup from day one.
The property is located on Court Street in downtown Elko, described as the county seat and commercial hub of one of Nevada’s busiest mining and ranching regions. The listing notes strong visibility and a stable tenant base within the downtown commercial environment.
For buyers seeking a leased office asset, the current tenancy and lease term options are positioned to reduce downtime risk compared with vacant space. The remarks also state an 8 percent cap rate for the leased spaces and reference $70,000 given toward the two additional parcels, in addition to the main building and its associated improvements.
The property is located on Court Street in downtown Elko, described as the county seat and commercial hub of one of Nevada’s busiest mining and ranching regions. The listing notes strong visibility and a stable tenant base within the downtown commercial environment.
For buyers seeking a leased office asset, the current tenancy and lease term options are positioned to reduce downtime risk compared with vacant space. The remarks also state an 8 percent cap rate for the leased spaces and reference $70,000 given toward the two additional parcels, in addition to the main building and its associated improvements.
Key Highlights
- Leased office building built in 1900 with central air and renovated updates while keeping historic character intact, per county records
- 5‑year lease in place with options to extend; includes leased spaces with an 8 percent cap rate
- Property includes four parcels: main office building, landscaped yard, hillside parcel, and a storage building for equipment/operational use
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.2k | $26.40 |
| − Vacancy | −$13.1k | −$3.56 |
| EGI | $84.0k | $22.84 |
| − OpEx | −$21.0k | −$5.71 |
| NOI | $63.0k | $17.13 |
3,680 SF · lease $26.40/SF/yr · vacancy 13.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$900.4K
$787.8K – $1.05M
NOI $63,027 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,856 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,186
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Leased, renovated 1900 office building with multiple parcels and a 5-year lease provides turnkey income for buyers.
Where is this office building located?
The property is located at 421 Court Street Elko, NV.
What is the asking price?
The asking price for this property is $1,320,000.
What are key features of this property?
This property features: Leased office building built in 1900 with central air and renovated updates while keeping historic character intact, per county records; 5‑year lease in place with options to extend; includes leased spaces with an 8 percent cap rate; Property includes four parcels: main office building, landscaped yard, hillside parcel, and a storage building for equipment/operational use
