Flex Space Complex with Gated
For Sale
$4,900,000
910 Glendale Ave, Sparks, NV 89431
Two-building industrial property offers showroom, office, warehouse, truck access, private parking, and secured outdoor storage.
Property Size23,450 SF
Price / SF$208.96
Days on Market193
Property Features for 910 Glendale Ave
General Information
Standard status
Active
Size
23,450 SF
Property subtype
Industrial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Office Build-Out
4,800 SF
Mezzanine
240 SF
Drive-In Doors
3
Amenities
Marquis signage opportunity
Multiple new restrooms
Building Details
Year Built
2022
Buildings
2
Listing Agency:
Mohr Partners Inc - Reno NV
(775) 224-5300
Listed By:
Lisamarie Wand · License #B.0145463.LLC
(775) 224-5300
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 8:57PM
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 Mohr Partners Inc - Reno NV
Investment Insights
Based on property information with market context.
This flex property comprises two buildings with renovated and newly constructed components. The primary building includes a 2,400-square-foot showroom, a matching 2,400-square-foot second-floor office, and a 6,000-square-foot industrial addition divided into three 2,000-square-foot units. Each industrial unit has a 12-by-14-foot roll-up door, insulation, and new heaters; Unit 1 also contains a 240-square-foot mezzanine. Building 2 provides four additional units with roll-up doors and bathrooms, along with new stucco, paint, and roofing.
Outdoor improvements include a 26,000-square-foot fenced yard with a new gate and a private parking lot configured for truck maneuvering. The property also features multiple new restrooms, upgraded lighting, flooring, windows, interior and exterior paint, and Mitsubishi HVAC equipment in the main building. Located on Glendale Avenue in Sparks, the site is approximately 20 minutes from Tahoe Reno Industrial Center and includes marquee signage potential.
Outdoor improvements include a 26,000-square-foot fenced yard with a new gate and a private parking lot configured for truck maneuvering. The property also features multiple new restrooms, upgraded lighting, flooring, windows, interior and exterior paint, and Mitsubishi HVAC equipment in the main building. Located on Glendale Avenue in Sparks, the site is approximately 20 minutes from Tahoe Reno Industrial Center and includes marquee signage potential.
Key Highlights
- Two‑building flex property with 4,800 square feet of showroom and office space
- 6,000‑square‑foot industrial addition divided into three 2,000‑square‑foot units
- Each industrial unit includes a 12x14 roll‑up door for semi‑truck drive‑in access
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
$331,876
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
6.77%
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%
$6,637,520
$6.6M
Cap Rate 7%
$4,741,086
$4.7M
Cap Rate 9%
$3,687,511
$3.7M
Market Conditions
NOI Build-Up for 23,450 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
$520.6K $22.20/SF
− Vacancy
−$78.1K −$3.33/SF
EGI
$442.5K $18.87/SF
− OpEx
−$110.6K −$4.72/SF
NOI
$331.9K $14.15/SF
Area
Sparks, NV
Vacancy
15.00%
Lease Rate
$22.20 /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%
$6,637,520
Cap Rate 7%
$4,741,086
Cap Rate 9%
$3,687,511
Alternative Uses
Best Use
Retail
$7.75M
$6.78M – $9.04M
NOI $542,306 @ 7.0% cap · market cap 11.07%
Second Best
Office B
$4.74M
$4.15M – $5.53M
NOI $331,876 @ 7.0% cap · market cap 6.77%
Theoretical Best
Specialty Retail
$8.30M
$7.26M – $9.68M
NOI $581,042 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,442
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building industrial property offers showroom, office, warehouse, truck access, private parking, and secured outdoor storage.
Where is this flex space located?
The property is located at 910 Glendale Ave Sparks, NV.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Two‑building flex property with 4,800 square feet of showroom and office space; 6,000‑square‑foot industrial addition divided into three 2,000‑square‑foot units; Each industrial unit includes a 12x14 roll‑up door for semi‑truck drive‑in access
