Add Listing
    For Lease
    • 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

    1007 Greg St Sparks, NV 89431

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    5,000 SF Flex Space Available Now

    Lot size:
    34,200 SF

    Property Features for 1007 Greg St

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    34,200 SF
    Class
    B
    Total Rate
    33858

    Building Details

    Year Built/Renovated
    1967/2019
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 1007 Greg St, Sparks, NV 89431 Contact us
    Unit 995 Greg

    $11 /Mo

    Size
    5,000 SF
    Contact us

    We can help!

    Listing Contact
    Kevin Sigstad
    Kevin Sigstad

    Listing Agent: Kevin Sigstad

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

    Learn more

    Overview

    This exceptional 34,200 square foot industrial flex building, situated on a 2.1-acre lot in the Sparks Industrial submarket of Sparks, Nevada, presents a unique investment opportunity. Built in 1967 and renovated in 2019, the Class B property features seven suites within a single, one-story building. Currently, 5,000 square feet of space is immediately available, with a minimum divisible space of 5,000 square feet and a maximum contiguous space of 5,000 square feet. The property boasts a 16-foot ceiling height, two loading docks, twelve drive-in doors, and ample parking with 48 total spaces. The convenient location offers excellent frontage on Greg Street and easy access via Cross Street Marietta. Zoned I, the property features an APN of 034-112-40. One available suite (995) offers approximately 800 square feet of office space, overhead doors at both the front and rear for convenient loading, and access to fenced common rear parking. Stable net, net, net (NNN) expenses are only $0.18 per square foot per month. The property is available for occupancy on October 1, 2024.
    Property Profile Location Intelligence

    Current Use by Public Records

    Admiral Dumpster Rental Waste Management Facility

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Pharmacy Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparks
    County
    Washoe
    State
    Nevada
    Longitude
    -119.75514937578
    Latitude
    39.521780314549

    Nearby Similar for Lease

    • $1.30 SF/Yr
      4,425 SF

      Flex Industrial Space For Lease

      Flex industrial space ideal for contractors, trades, and fabricators.
      1961 Pacific Ave, Sparks, NV 89431
      View Details
    • $1.25 SF/Yr
      8,400 SF

      Industrial Building in Sparks Submarket

      11,400 SF industrial building with dock and grade doors.
      610 E Glendale Ave, Sparks, NV 89431
      View Details
    • Contact for pricing
      81,175 SF

      Evergreen Plaza Retail/Office Suites

      Retail and office suites available in Evergreen Plaza Shopping Center.
      2300 Oddie Blvd, Sparks, NV 89431
      View Details
    • Contact for pricing
      25,370 SF

      Modern Office Building with Garage

      Renovated office building with garage in Tahoe Reno Industrial Center.
      610 Waltham Way, Sparks, NV 89437
      View Details
    • $2 SF/Yr
      4,390 SF

      Sparks Retail Space For Lease

      4,390 SF street-front retail space, ideal for restaurant use.
      2200 Victorian Ave, Sparks, NV 89431
      View Details
    • $2 SF/Yr
      3,906 SF

      Retail Space in Sparks, Nevada

      Retail property for lease in a prime Sparks location.
      5212 Sparks Blvd, Sparks, NV 89436
      View Details
    • $1.25 SF/Yr
      81,247 SF

      Restaurant Retail Space Available

      Retail space built out as a restaurant for lease.
      2300-2360 Oddie Blvd, Sparks, NV 89431
      View Details
    • $1.25 SF/Yr
      14,432 SF

      Remodeled Office Building Near Amenities

      Two-story office building with rent-ready suites and conference room.
      1855 Sullivan Ln, Sparks, NV 89531
      View Details
    • Contact for pricing
      41,260 SF

      Stonebrook Medical Campus Leasing Opportunity

      Build-to-suit medical/office space near Northern Nevada Medical Center.
      7999 Tierra Del Sol Pkwy, Sparks, NV 89436
      View Details
    • $1.20 SF/Yr
      10,000 SF

      Sparks Warehouse with Office/Showroom

      10,000 SF warehouse space with office and showroom.
      911 Linda Way, Sparks, NV 89431
      View Details
    • $30 SF/Yr
      1,451 SF

      Office Space Available For Rent

      Office space available for lease in Sparks, Nevada.
      2385 E Prater Way, Sparks, NV 89434
      View Details
    • $28 SF/Yr
      1,137 SF

      Office Space Available in Sparks

      Office space for lease at 2345 E Prater Way.
      2345 E Prater Way, Sparks, NV 89434
      View Details

    FAQs

    What type of property is this?
    Flex space - 5,000 SF Flex Space Available Now
    Where is this flex space located?
    The property is located at 1007 Greg St Sparks, NV.
    What is the lease rate?
    The lease rate is $11 SF/Yr.
    What are key features of this property?
    This property features: 34,200 SF industrial flex building on a 2.1-acre lot in Sparks, NV.; Class B property, built in 1967, renovated in 2019.; 5,000 SF immediately available, divisible in 5,000 SF increments.
    (775) 828-3700 Call to check price and availability
    Request Owner's contact information
    1007 Greg St Sparks, NV 89431
    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.
    1007 Greg St
    Sparks, NV 89431
    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
    1007 Greg St Sparks, NV 89431
    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 Kevin Sigstad
    Kevin Sigstad
    Real Estate License ID: 63841
    (775) 828-3700 (775) 745-2074 (775) 284-1808
    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!