Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2801 Monte Neva Rd Ely, NV 89301

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-Yielding Farmland, Proven Water Rights

    Property Features for 2801 Monte Neva Rd

    General Information

    Property type
    Farms
    Lot Size
    47,001,240 SF

    We can help!

    Listing Contact
    Curren Christensen
    Curren Christensen

    Listing Agent: Curren Christensen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Exceptional investment opportunity: 1,079 acres of prime farmland located in the Steptoe Valley near Ely, Nevada. This property boasts proven water rights to irrigate approximately 845 acres, utilizing underground water sources. The land is comprised of multiple parcels (APN: 008-490-24, 010-010-01, 008-480-25, 008-480-14, 008-480-21, 010-020-01, 008-48-022-25) and is zoned AG. The high elevation (approximately 5,800 feet) provides fantastic growing conditions, currently supporting a highly productive operation yielding crops with very high protein content. Irrigation is facilitated by eight pivots served by six wells, all with certificated or application-approved water rights. The property is offered at $5,050,000 and presents a rare chance to acquire established, high-performing farmland in a desirable location. The address is 2801 Monte Neva Rd, Ely, NV 89301. This fee-simple ownership offers significant potential for continued agricultural success and long-term investment growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Ely
    County
    White Pine
    State
    Nevada
    Longitude
    -114.779352
    Latitude
    39.653515

    Nearby Similar for Sale

    • $900,000
      2,736 SF

      Ely Commercial/Industrial Property For Sale

      Commercial/industrial property with insulated shop, office, and employee break-room.
      1655 D Ave, Ely, NV 89301
      View Details
    • $1,250,000
      3,248 SF

      Commercial Building in Ely, Nevada

      Commercial building with government lease in Ely's industrial area.
      1245 Alpha St, Ely, NV 89301
      View Details
    • $1,200,000
      8,800 SF

      Industrial Building on Large Acreage

      8,800 sq ft industrial building on 19.48 acres.
      933 N Industrial Way, Ely, NV 89301
      View Details
    • $950,000
      2,205 SF

      Retail Building Near White Pine

      2,250 SF retail building for sale with leaseback.
      1008 Veterans Blvd, Ely, NV 89301
      View Details
    • $785,000
      15,012 SF

      Versatile Commercial Property in Ely, Nevada

      15,012 SF commercial property ideal for warehousing, manufacturing, or distribution.
      201 Ogden Ave, Ely, NV 89301
      View Details
    • $1,350,000
      3,248 SF

      Ely Nevada Commercial Building

      Commercial building with government lease in Ely, Nevada.
      1245 Alpha St, Ely, NV 89301
      View Details
    • $275,000
      3,700 SF

      Automotive Shop with Storage Yard

      2.1-acre storage yard with 3,700 SF automotive shop.
      950 Hwy N, Ely, NV
      View Details
    • $450,000
      1.40 Acres

      Commercial Property Near Highway 93

      1.4 acre commercial property with steel metal building.
      800 E 93 St, Ely, NV 89301
      View Details
    • $1,400,000
      8,317 SF

      Magnuson Hotel in Ely, Nevada

      Turnkey hotel with 19 rooms on main highway in Ely.
      930 Aultman St, Ely, NV 89301
      View Details
    • $1,300,000
      8,474 SF

      Magnuson Ely Hotel For Sale

      Turnkey hotel with 21 guest rooms on busy highway.
      1101 Aultman St, Ely, NV 89301
      View Details
    • $3,000,000
      16,791 SF

      Downtown Ely Hospitality Portfolio

      Six parcels in downtown Ely, including two operating hotels.
      Aultman St, Ely, NV 89301
      View Details
    • $275,000
      3,699 SF

      Automotive Shop with Storage Yard

      2.1-acre storage yard with a 50x70 steel automotive shop.
      950 S 93, Ely, NV 89301
      View Details

    FAQs

    What type of property is this?
    Farm - High-Yielding Farmland, Proven Water Rights
    Where is this farm located?
    The property is located at 2801 Monte Neva Rd Ely, NV.
    What is the asking price?
    The asking price for this property is $5,050,000.
    What are key features of this property?
    This property features: ±1,079-acre fee simple land parcel.; Located in Steptoe Valley near Ely, Nevada.; 845 acres with proven water rights for irrigation.
    (435) 627-5752 Call to check price and availability
    Request Owner's contact information
    2801 Monte Neva Rd Ely, NV 89301
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2801 Monte Neva Rd
    Ely, NV 89301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    2801 Monte Neva Rd Ely, NV 89301
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Curren Christensen
    Curren Christensen
    Real Estate License ID: 6431250-SA00
    (435) 627-5752 (435) 851-2226 (702) 383-3383
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!