Mixed-Use Property with Upstairs
New
For Sale
$620,000
79 N C Street, Virginia City, NV 89440
Commercial Sale, Virginia City, NV
Property Size2,880 SF
Lot Size0.06 Acres
Price / SF$215.28
Days on Market4
Property Features for 79 N C Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
CR
Parking features
On Street, Off Street
Security features
Security System
Window features
Display Window(s)
Basement
Unfinished
Lot features
Sloped Down, Steep Slope
Directions
On historic C st. the main street of Virginia City
Standard status
Active
APN
001-086-19
Size
2,880 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
1874
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1989
Floors in Building
2
Number of units
3
Flooring type
Vinyl, Wood
Building materials
Lap Siding, Wood Siding
Roof type
Membrane, Composition
Listing Agency:
NextHome Yourpickettfence Group
(775) 622-0614
Listed By:
Tim Lambdin · License #BS.7450
(775) 813-3414
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 28 at 3:06PM
MLS# 260011068
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 2,880-square-foot mixed-use property at 79 N C Street combines a commercial area on the lower level with two rental units upstairs. The configuration supports an owner-user arrangement, separate residential occupancy, or continued use of the existing business space. Lap and wood siding, vinyl and wood flooring, baseboard heating, and electric heat are among the building features. Constructed in 1989, the property also includes a composition and membrane roof system.
The 0.06-acre parcel is located in Virginia City, Storey County, with both off-street and on-street parking. Public water and public sewer serve the property, and cable is available. Zoning is CR.
The 0.06-acre parcel is located in Virginia City, Storey County, with both off-street and on-street parking. Public water and public sewer serve the property, and cable is available. Zoning is CR.
Key Highlights
- 2,880 SF mixed‑use property with commercial space downstairs
- Two rental units located on the upper level
- 0.06‑acre parcel at 79 N C Street, Virginia City, NV 89440
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
$50,911
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
8.21%
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%
$1,018,220
$1.0M
Cap Rate 7%
$727,300
$727.3K
Cap Rate 9%
$565,678
$565.7K
Market Conditions
NOI Build-Up for 2,880 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
$83.3K $28.92/SF
− Vacancy
−$15.4K −$5.35/SF
EGI
$67.9K $23.57/SF
− OpEx
−$17.0K −$5.89/SF
NOI
$50.9K $17.68/SF
Area
Storey County, NV
Vacancy
18.50%
Lease Rate
$28.92 /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%
$1,018,220
Cap Rate 7%
$727,300
Cap Rate 9%
$565,678
Alternative Uses
Best Use
Office B
$727.3K
$636.4K – $848.5K
NOI $50,911 @ 7.0% cap · market cap 8.21%
Second Best
Mixed Use
$600.4K
$525.4K – $700.5K
NOI $42,028 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$887.6K
$776.6K – $1.04M
NOI $62,131 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 89440, NV
908
Population
614
Households
1.5
Avg Household Size
57
Median Age
47%
College-Educated
83%
High-School Grad
12.5 sq mi
ZIP Area
73
Density / Sq Mi
$109,286
Median Household Income
$456,900
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?
Mixed-use property - Two-level commercial property with an active lower-floor business area and two rental units above.
Where is this mixed-use property located?
The property is located at 79 N C Street Virginia City, NV.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 2,880 SF mixed‑use property with commercial space downstairs; Two rental units located on the upper level; 0.06‑acre parcel at 79 N C Street, Virginia City, NV 89440
