Storefront Property with Auto Parts
For Sale
$1,400,000
631 Humboldt Avenue, Wells, NV 89835
CommercialSale, Wells, NV
Property Size9,396 SF
Lot Size1.15 Acres
Price / SF$148
Days on Market452
Property Features for 631 Humboldt Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
TC
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Exterior features
Fence, Garden, Storage
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Subdivision
Railroad Addition
View
Mountains, City
Standard status
Active
APN
002-650-010
Size
9,396 SF
Lot size
1.15 Acres
Taxes and HOA fees
Tax Annual Amount
6944
Utilities
Heating system
Forced Air, Propane (Heating)
Water source
Public
Building Details
Year built
1993
Flooring type
Concrete
Building materials
MetalSiding, Stucco
Roof type
Metal
Additional Structures
Shed(s), Storage
Listing Agency:
Coldwell Banker Commercial Excel · Coldwell Banker Real Estate
(775) 738-4078
Listed By:
Nawny Jones · License #S.0194875
(775) 738-4078
Added: Jun 5, 2025
Changed: Aug 28
Last Checked: Aug 30 at 11:06AM
MLS# 3626408
Copyright © 2026 Elko County Board of Realtors. 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.
The offering combines a storefront commercial property with an operating hardware and auto parts business at 631 Humboldt Avenue in Wells, Nevada. The building contains 9,396 square feet on 1.15 acres and was constructed in 1993. Metal siding, stucco, a metal roof, concrete flooring, fenced areas, storage space, a garden, and an accessible ramp are among the property features. Public water serves the site, with forced-air and propane heating.
The property shares a wall with Roy's Market and is positioned in Wells near I-80. The business has operated locally for 41 years and serves residents, ranching families, small businesses, and travelers. The sale includes the real estate and business, along with established relationships with Genuine Parts Company and Do It Best Hardware.
The property shares a wall with Roy's Market and is positioned in Wells near I-80. The business has operated locally for 41 years and serves residents, ranching families, small businesses, and travelers. The sale includes the real estate and business, along with established relationships with Genuine Parts Company and Do It Best Hardware.
Key Highlights
- 9,396‑square‑foot commercial building on 1.15 acres
- Established hardware and auto parts business operating for 41 years
- Sale includes both the operating business and the real estate
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
$100,158
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
7.15%
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%
$2,003,160
$2.0M
Cap Rate 7%
$1,430,829
$1.4M
Cap Rate 9%
$1,112,867
$1.1M
Market Conditions
NOI Build-Up for 9,396 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
$152.2K $16.20/SF
− Vacancy
−$9.1K −$0.97/SF
EGI
$143.1K $15.23/SF
− OpEx
−$42.9K −$4.57/SF
NOI
$100.2K $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%
$2,003,160
Cap Rate 7%
$1,430,829
Cap Rate 9%
$1,112,867
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,158 @ 7.0% cap · market cap 7.15%
Second Best
Industrial
$217.7K
$190.5K – $254.0K
NOI $15,240 @ 7.0% cap · market cap 1.09%
Theoretical Best
Office A
$2.99M
$2.61M – $3.48M
NOI $209,000 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89835, NV
1,689
Population
635
Households
2.7
Avg Household Size
42
Median Age
15%
College-Educated
75%
High-School Grad
1,835.6 sq mi
ZIP Area
1
Density / Sq Mi
$64,583
Median Household Income
$30,789
Median Earnings
$977
Median Rent
$234,600
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?
Storefront property - Offering includes an established hardware and auto parts operation together with its commercial building in Wells.
Where is this storefront property located?
The property is located at 631 Humboldt Avenue Wells, NV.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 9,396‑square‑foot commercial building on 1.15 acres; Established hardware and auto parts business operating for 41 years; Sale includes both the operating business and the real estate
