Two-Level Flex Warehouse with
For Sale
$795,000
680 Hardy Way, Mesquite, NV 89027
Two-level facility with upstairs offices and downstairs open warehouse area featuring 12-foot ceilings and two overhead doors.
Property Size3,967 SF
Price / SF$200.40
Days on Market85
Property Features for 680 Hardy Way
General Information
Standard status
Active
Size
3,967 SF
Additional Details
Outdoor Storage
Yes
Clear Height
12 ft
Office Units
5
Taxes and HOA fees
Annual Taxes
$4,423
Amenities
reception area
conference room
kitchen
bathroom
washer-dryer
storage closet
storage unit
security gate
Building Details
Stories
2
Listing Agency:
RE/MAX Ridge Realty
(702) 346-7800
Listed By:
Mark Brackelsberg · License #S.0170253
(702) 575-9815
Source:
Exprealty
Added: Jun 21
Changed: Sep 8
Last Checked: Sep 12 at 4:07PM
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 RE/MAX Ridge Realty
Investment Insights
Based on property information with market context.
This two-level flex warehouse totals nearly 4,000 square feet. The upstairs is configured with five office spaces, a reception area, a conference room, a kitchen, and a bathroom. Downstairs is mostly open and includes 220 plugs, a 400-amp service, a bathroom, storage closet, an additional office, and a washer-dryer. Ceiling height is 12 feet, and the space is served by two overhead doors—10’ x 18’ and 10’ x 10’—with panels that allow for abundant natural light.
The property is located at 680 Hardy Way in Mesquite, NV. Outdoors, there is a storage unit and a security gate that provides access to and from Hardy Way. Buyer to verify all information.
The property is located at 680 Hardy Way in Mesquite, NV. Outdoors, there is a storage unit and a security gate that provides access to and from Hardy Way. Buyer to verify all information.
Key Highlights
- Nearly 4,000 SF on two levels with upstairs office space and a downstairs open warehouse area
- Upstairs layout includes 5 office spaces, reception, conference room, kitchen, and bathroom
- Downstairs is wide open with 12‑foot ceilings, 220 plugs, and 400‑amp service
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
$68,684
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
8.64%
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%
$1,373,680
$1.4M
Cap Rate 7%
$981,200
$981.2K
Cap Rate 9%
$763,156
$763.2K
Market Conditions
NOI Build-Up for 3,967 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
$107.1K $27.00/SF
− Vacancy
−$15.5K −$3.92/SF
EGI
$91.6K $23.09/SF
− OpEx
−$22.9K −$5.77/SF
NOI
$68.7K $17.31/SF
Area
Clark County, NV
Vacancy
14.50%
Lease Rate
$27.00 /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%
$1,373,680
Cap Rate 7%
$981,200
Cap Rate 9%
$763,156
Alternative Uses
Best Use
Office B
$981.2K
$858.6K – $1.14M
NOI $68,684 @ 7.0% cap · market cap 8.64%
Second Best
Flex RnD
$747.5K
$654.1K – $872.1K
NOI $52,324 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$1.03M
$900.8K – $1.20M
NOI $72,063 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12 ft
Clear height
5
Office units
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89027, NV
17,547
Population
9,972
Households
1.8
Avg Household Size
59
Median Age
22%
College-Educated
89%
High-School Grad
12.5 sq mi
ZIP Area
1,404
Density / Sq Mi
$71,176
Median Household Income
$35,938
Median Earnings
$1,106
Median Rent
$343,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Two-level facility with upstairs offices and downstairs open warehouse area featuring 12-foot ceilings and two overhead doors.
Where is this flex space located?
The property is located at 680 Hardy Way Mesquite, NV.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Nearly 4,000 SF on two levels with upstairs office space and a downstairs open warehouse area; Upstairs layout includes 5 office spaces, reception, conference room, kitchen, and bathroom; Downstairs is wide open with 12‑foot ceilings, 220 plugs, and 400‑amp service
