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    2302 Oddie Blvd Sparks, NV 89431

    Sponsored
    For Sale
    $2,160,000

    108-unit development opportunity in prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.37-acre commercial land parcel in Sparks, Nevada (APN 026-284-34), is zoned for mixed-use development and offers a unique opportunity to construct a 108-unit multifamily project. The approved plans include three three-story buildings, each housing 36 units, supported by 108 surface parking spaces. Situated within the Evergreen Plaza Shopping Center at 2302 Oddie Blvd, zip code 89431, this site benefits from its proximity to the thriving Oddie District, an urban infill redevelopment project featuring diverse businesses such as Mythic Gymnastics, The Innovation Collective, Cartwheel Robotics, CoffeeBar, Fifty Fifty Brewing Company, and Nevada Works. The location also enjoys convenient access to major transportation arteries, including Interstate 80 and Interstate 580, and is just seven minutes from the University of Nevada, Reno. Recent infrastructure improvements, including a $55 million road upgrade project enhancing the Oddie-Wells Corridor, further enhance the site's appeal. The property's location near established retailers like Walgreens, Dollar Tree, and numerous restaurants, as well as major employers such as Amazon, Chewy, and others, ensures strong rental demand. This is an ideal location for an affordable housing development in a HUD Qualified Census Tract zone. The asking price for this exceptional development opportunity is $2,160,000. The retail portion of the Evergreen Plaza Shopping Center may be acquired separately.

    Property Features for 2302 Oddie Blvd

    General Information

    Property type
    Land
    Lot Size
    103,237 SF

    HighLights

    • 108‑unit multifamily development opportunity on ~2 acres in Sparks, ideal for affordable housing.
    • Adjacent to the Oddie District urban infill redevelopment.
    • Benefits from the $55M Oddie‑Wells Corridor multi‑modal transportation improvement.
    • Strong retail presence with new and established national tenants including El Super, Starbucks, Walgreens, and Dollar Tree.
    • 7 minutes from UNR, <1 mile from I‑80, and 0.5 miles from I‑580.
    • Near major employers like Amazon, Chewy, and others.
    Property Profile Location Intelligence

    Current Use by Public Records

    A1 Indian Grocery Indian Grocery Store A-1 Appliannces & Video Grocery Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sparks
    County
    Washoe
    State
    Nevada
    Longitude
    -119.77768048998
    Latitude
    39.546377212425

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    FAQs

    What type of property is this?
    Land - 108-unit development opportunity in prime location.
    Where is this land located?
    The property is located at 2302 Oddie Blvd Sparks, NV.
    What is the asking price?
    The asking price for this property is $2,160,000.
    What are key features of this property?
    This property features: 108-unit multifamily development opportunity on ~2 acres in Sparks, ideal for affordable housing.; Adjacent to the Oddie District urban infill redevelopment.; Benefits from the $55M Oddie-Wells Corridor multi-modal transportation improvement.
    (775) 823-6983
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    2302 Oddie Blvd Sparks, NV 89431
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2302 Oddie Blvd Sparks, NV 89431
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