910 Glendale AveSparks, NV 89431

Property Details for 910 Glendale Ave

Year built

1968

Construction

METAL FRAME

Lot size

1.59 AC

Property size (Sq ft)

4,720 SF

Zone code

I

Property type

Retail properties

Property subtype

Retail space

APN

032-302-08

APU

3230208

Description

This exceptional 22,968 square foot industrial complex, located at 910 Glendale Ave in Sparks, Nevada (89431), presents a compelling investment opportunity. The property boasts two buildings totaling 22,968 square feet of net rentable space, currently 50% occupied by two tenants with month-to-month leases, generating a current annual income of $14,000. Building A features a newly renovated 4,800 square foot showroom and office space, along with a 6,000 square foot industrial metal building containing three 2,000 square foot units with 12x14 roll-up doors and 24-foot ceilings. Building B comprises four units of varying sizes, all equipped with roll-up doors and bathrooms. Recent renovations (2022) include new stucco, paint, roofing, and interior/exterior upgrades to Building A, including high-end windows, lighting, and Mitsubishi HVAC units. The property sits on a 1.59-acre lot and includes a 15,600 square foot parking lot with ample space for truck turnaround, a fenced 26,000 square foot yard, and 16 parking spaces. The property is zoned I and offers significant potential for increased income through mini-storage development or additional leasing. The asking price is $4,900,000, representing a 3.12% cap rate and a NOI of $153,000. Seller financing is available. This property is ideal for owner-users or investors seeking high-demand small industrial spaces in a prime Sparks location. The property was built in 1968 and has nine units.

• CAP approach

  CAP return

  Valuation

  6%

  $1,042,767

  6.5%

  $962,554

  7%

  $893,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,723,699

  Geo Method

  $2,723,699

• Alternative Use

  Use

  Valuation

  Residential

  $811,951

  Hospitality

  $743,742

  Educational

  $618,785

  Medical

  $640,066

  Retail

  $962,554

Location Insight

City

Sparks

County

Washoe

State

Nevada

Latitude

39.5283

Longitude

-119.754

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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