Multi-Tenant Flex
625 Spice Islands Drive, Sparks, NV 89431
For Sale
Contact for pricing
A 14-tenant roster spans automotive repair and industrial service businesses.
Property Size40,800 SF
Price / SF$294.12
Days on Market40
Property Features for 625 Spice Islands Drive
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Outdoor Storage
Tenant in Place
Property Use
Building Details
Building Size
Tenancy
Listing Agency:
Logic Commercial Real Estate Reno
Listed By:
Michael Keating · License #NV# S.174942
(775) 386-9727
Source:
Crexi
Added: Sep 30
Changed: Nov 8
Last Checked: Nov 8 at 2:19PM
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 Logic Commercial Real Estate Reno
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Investment Insights
Based on property information with market context.
This flex property at 625 Spice Islands Drive in Sparks, Nevada, contains approximately 40,800 square feet across suites ranging from approximately 2,000 to 10,000 square feet. The tenant mix includes automotive, diesel and truck repair, fire protection, roofing, and industrial service businesses, along with two outdoor yard spaces.
Occupancy is 95%, and several leases have near-term rollover. The property is offered for sale.
Occupancy is 95%, and several leases have near-term rollover. The property is offered for sale.
Key Highlights
- Approximately 40,800 square feet of multi‑tenant flex space
- 14 tenants across automotive, repair, fire protection, roofing, and industrial service uses
- Suites range from approximately 2,000 SF to approximately 10,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$465,903
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,318,060
$9.3M
Cap Rate 7%
$6,655,757
$6.7M
Cap Rate 9%
$5,176,700
$5.2M
Market Conditions
NOI Build-Up for 40,800 SF
Gross rent
$783.4K $19.20/SF
− Vacancy
−$66.6K −$1.63/SF
EGI
$716.8K $17.57/SF
− OpEx
−$250.9K −$6.15/SF
NOI
$465.9K $11.42/SF
Area
Sparks, NV
Vacancy
8.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,318,060
Cap Rate 7%
$6,655,757
Cap Rate 9%
$5,176,700
Alternative Uses
Best Use
Flex RnD
$6.66M
$5.82M – $7.77M
NOI $465,903 @ 7.0% cap · market cap 3.88%
Second Best
Industrial
$3.15M
$2.75M – $3.67M
NOI $220,184 @ 7.0% cap · market cap 1.83%
Theoretical Best
Specialty Retail
$14.44M
$12.64M – $16.85M
NOI $1,010,938 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
95%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
721
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Flex space in Washoe County
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Jonesey's Inc — Sparks, NV 89431
- Chrissy's Cheesecakes — 615 Spice Islands Dr, Sparks, NV 89431
- Blend Catering — 615 Spice Islands Dr #4, Sparks, NV 89431
- TukTuk YumYum Frozen Yogurt — 380 Freeport Blvd Suite #4, Sparks, NV 89431
- Poi Boy Catering — 155 Glendale Ave Suite 19, Sparks, NV 89431
Frequently Asked Questions
What type of property is this?
Flex space - A 14-tenant roster spans automotive repair and industrial service businesses.
Where is this flex space located?
The property is located at 625 Spice Islands Drive Sparks, NV.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: Approximately 40,800 square feet of multi‑tenant flex space; 14 tenants across automotive, repair, fire protection, roofing, and industrial service uses; Suites range from approximately 2,000 SF to approximately 10,000 SF
