Gas Station with Fuel
For Sale
$250,000
424 Chestnut, Carlin, NV 89822
COMMERCIAL - Carlin, NV
Property Size1,232 SF
Lot Size0.20 Acres
Price / SF$202.92
Days on Market939
Property Features for 424 Chestnut
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Parking
8
Window features
Single Pane Window(s)
Subdivision
North Addition
Directions
i 80 To Chestnut st exit
Standard status
Active
APN
002-010-004
Size
1,232 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
1931
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1973
Floors in Building
1
Number of units
1
Flooring type
Vinyl, Tile
Building materials
Brick, Masonry Veneer
Roof type
Shake, Flat, Wood
Listing Agency:
Coldwell Banker Select Reno · Coldwell Banker Real Estate
(775) 688-4800
Listed By:
Reuben Dawkins · License #S.46679
(775) 215-5595
Added: Jan 13, 2024
Changed: Aug 4
Last Checked: Aug 9 at 5:06PM
MLS# 240002944
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 gas station property includes a fuel canopy, four fuel dispensers with eight hoses, and four double-walled fiberglass tanks. Tank capacity consists of three 10,000-gallon tanks and one 15,000-gallon tank, monitored by a Veeder-Root TLS-350 system. The approximately 538-square-foot station building is unused and contains an office, two bathrooms, and a common room. Planned work includes replacement fuel dispensers and new exterior paint.
The property occupies approximately 0.20 acres at 424 Chestnut in Carlin, Nevada, along Interstate 80. It is zoned GC and has public water and public sewer service. Built in 1973, the building uses brick and masonry veneer construction with vinyl and tile flooring and forced-air heating. The station building could be converted into a small convenience store or another use selected by the new owner.
The property occupies approximately 0.20 acres at 424 Chestnut in Carlin, Nevada, along Interstate 80. It is zoned GC and has public water and public sewer service. Built in 1973, the building uses brick and masonry veneer construction with vinyl and tile flooring and forced-air heating. The station building could be converted into a small convenience store or another use selected by the new owner.
Key Highlights
- Four fuel dispensers with eight hoses beneath an approximately 1,232‑square‑foot canopy
- Four double‑walled fiberglass tanks: three 10,000‑gallon tanks and one 15,000‑gallon tank
- Veeder‑Root TLS‑350 fuel tank monitoring system
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
$13,133
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
5.25%
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%
$262,660
$262.7K
Cap Rate 7%
$187,614
$187.6K
Cap Rate 9%
$145,922
$145.9K
Market Conditions
NOI Build-Up for 1,232 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
$20.0K $16.20/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$18.8K $15.23/SF
− OpEx
−$5.6K −$4.57/SF
NOI
$13.1K $10.66/SF
Area
Elko County, NV
Vacancy
6.00%
Lease Rate
$16.20 /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%
$262,660
Cap Rate 7%
$187,614
Cap Rate 9%
$145,922
Alternative Uses
Best Use
Retail
$187.6K
$164.2K – $218.9K
NOI $13,133 @ 7.0% cap · market cap 5.25%
Second Best
Specialty Retail
$185.1K
$162.0K – $216.0K
NOI $12,959 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$391.5K
$342.6K – $456.7K
NOI $27,404 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Demographics for 89822, NV
1,982
Population
983
Households
2
Avg Household Size
40
Median Age
16%
College-Educated
91%
High-School Grad
239.2 sq mi
ZIP Area
8
Density / Sq Mi
$61,815
Median Household Income
$47,745
Median Earnings
$1,211
Median Rent
$197,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - The property includes an unused station building with office, restroom, and common-room areas.
Where is this gas station located?
The property is located at 424 Chestnut Carlin, NV.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Four fuel dispensers with eight hoses beneath an approximately 1,232‑square‑foot canopy; Four double‑walled fiberglass tanks: three 10,000‑gallon tanks and one 15,000‑gallon tank; Veeder‑Root TLS‑350 fuel tank monitoring system
