Sparks Industrial Property with
For Sale
Contact for pricing
901 Meredith Way, Sparks, NV 89431
Functional office/warehouse with fenced yard in Sparks industrial corridor.
Property Size10,783 SF
Lot Size1.00 Acre
Price / SF$351.94
Days on Market81
Property Features for 901 Meredith Way
General Information
Standard status
Active
Size
10,783 SF
Lot size
1.00 Acre
Property subtype
Industrial
Investment Type
Owner/User
Listing Agency:
Evolve Nevada
Listed By:
Jason Evanchak · License #NV B143842
Source:
Crexi
Added: May 21
Changed: Aug 8
Last Checked: Aug 8 at 2:45PM
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 Evolve Nevada
Investment Insights
Based on property information with market context.
This polished office and warehouse asset features fenced yard space and strong loading capabilities. It also benefits from supplemental revenue generated by two existing cell tower leases. The layout is suitable for contractors, service operations, distribution, and owner-user occupancy within the core Sparks industrial corridor. Designed to accommodate a range of operational uses, the property features a functional industrial layout. The building configuration includes warehouse, shop, and office components that can support contractor services, distribution, light manufacturing, or other industrial users. The one-acre parcel offers additional flexibility for parking, storage, or operational yard space. Located within the established Sparks industrial submarket, a strategic logistics hub within the Reno-Sparks metropolitan area, the property benefits from convenient access to Interstate 80, Rock Boulevard, and major regional transportation corridors, providing efficient connectivity to Northern California, the Pacific Northwest, and the broader Mountain West. The property has a size of 10783 square feet.
Key Highlights
- Fenced yard space on a one‑acre parcel provides flexibility for parking, storage, or operations.
- Strong loading capabilities suitable for warehouse and distribution operations.
- Supplemental revenue from two existing cell tower leases.
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
$123,133
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
3.24%
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%
$2,462,660
$2.5M
Cap Rate 7%
$1,759,043
$1.8M
Cap Rate 9%
$1,368,144
$1.4M
Market Conditions
NOI Build-Up for 10,783 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
$207.0K $19.20/SF
− Vacancy
−$17.6K −$1.63/SF
EGI
$189.4K $17.57/SF
− OpEx
−$66.3K −$6.15/SF
NOI
$123.1K $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 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%
$2,462,660
Cap Rate 7%
$1,759,043
Cap Rate 9%
$1,368,144
Alternative Uses
Best Use
Flex RnD
$1.76M
$1.54M – $2.05M
NOI $123,133 @ 7.0% cap · market cap 3.24%
Second Best
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,794 @ 7.0% cap · market cap 2.23%
Theoretical Best
Specialty Retail
$3.82M
$3.34M – $4.45M
NOI $267,180 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
554
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Functional office/warehouse with fenced yard in Sparks industrial corridor.
Where is this flex space located?
The property is located at 901 Meredith Way Sparks, NV.
What is the asking price?
The asking price for this property is $3,795,000.
What are key features of this property?
This property features: Fenced yard space on a one‑acre parcel provides flexibility for parking, storage, or operations.; Strong loading capabilities suitable for warehouse and distribution operations.; Supplemental revenue from two existing cell tower leases.
