North Valleys Industrial
For Sale
Contact for pricing
14291 Lear Blvd, Reno, NV 89506
144,219 SF industrial building with office space for sale.
Property Size144,219 SF
Price / SF$114.41
Days on Market793
Property Features for 14291 Lear Blvd
General Information
Standard status
Active
Size
144,219 SF
Class
B
Property subtype
Industrial
Zoning
Industrial
Building Details
Year Built
1982
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Dickson Commercial Group
(775) 351-5578
Listed By:
Travis Hansen · License #NV 75595
Source:
Crexi
Added: Jul 1, 2024
Changed: Aug 23
Last Checked: Aug 29 at 2:36AM
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 Dickson Commercial Group
Investment Insights
Based on property information with market context.
This 144,219 square foot industrial building is located in the North Valleys industrial submarket. The property includes 8,197 square feet of office space and is available for sale or lease. It features 6 dock-high doors, 4 drive-in doors, and 4 additional outside covered dock-high doors. The office space is equipped with an HVAC system. Clear heights within the building range up to 29 feet 5 inches.
Key Highlights
- Large industrial building offering 144,219 square feet
- Multiple loading options including 6 dock‑high doors and 4 drive‑in doors, plus 4 additional outside covered dock‑high doors
- Located in the North Valleys industrial submarket
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
$992,771
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
6.02%
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%
$19,855,420
$19.9M
Cap Rate 7%
$14,182,443
$14.2M
Cap Rate 9%
$11,030,789
$11.0M
Market Conditions
NOI Build-Up for 144,219 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
$1.32M $9.12/SF
− Vacancy
−$147.3K −$1.02/SF
EGI
$1.17M $8.10/SF
− OpEx
−$175.2K −$1.21/SF
NOI
$992.8K $6.88/SF
Area
Reno, NV
Vacancy
11.20%
Lease Rate
$9.12 /SF/Yr
Expense Ratio
15.00%
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%
$19,855,420
Cap Rate 7%
$14,182,443
Cap Rate 9%
$11,030,789
Alternative Uses
Best Use
Office B
$36.42M
$31.87M – $42.49M
NOI $2,549,410 @ 7.0% cap · market cap 15.45%
Second Best
Warehouse
$14.18M
$12.41M – $16.55M
NOI $992,771 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$44.45M
$38.89M – $51.85M
NOI $3,111,254 @ 7.0% cap · market cap 18.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89506, NV
43,321
Population
17,015
Households
2.5
Avg Household Size
35
Median Age
20%
College-Educated
86%
High-School Grad
91.1 sq mi
ZIP Area
476
Density / Sq Mi
$86,557
Median Household Income
$42,481
Median Earnings
$1,733
Median Rent
$377,500
Median Home Value
Market
Vacancy Rate% for Office in Reno, NV
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 144,219 SF industrial building with office space for sale.
Where is this warehouse located?
The property is located at 14291 Lear Blvd Reno, NV.
What is the asking price?
The asking price for this property is $16,500,000.
What are key features of this property?
This property features: Large industrial building offering 144,219 square feet; Multiple loading options including 6 dock‑high doors and 4 drive‑in doors, plus 4 additional outside covered dock‑high doors; Located in the North Valleys industrial submarket
