Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    118 2nd St Elko, NV 89801-3615
    Back to Search
    Property profile & analytics

    118 2nd St, Elko, NV 89801-3615

    View on Map
    • Commercial real estate
    • 8,100 SF
    • 0.23 lot acres
    Off-Market
    Last Sale Apr 23, 2025
    $1,600,000
    Property ID
    US62-0917838
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,520,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Getman / Industrial Manufacturer / Metal Fabrication Plant

    Property Details for 118 2nd St

    Year built
    1985
    Construction
    CONCRETE BLOCKS
    Lot size
    0.23 lot acres
    Zone code
    ZLI
    Property type
    Commercial real estate
    APN
    001-334-006
    APU
    1334006

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 23, 2025 $1,600,000 975 5th Street Building LLC 2nd Silver LLC Bargain & Sale Deed $1.2M · Elko FCU
    Apr 18, 2023 — Michael L Ayala — Deed · related $408k · Lipparelli & Associates
    Aug 11, 2022 — 2nd Silver LLC — Deed · related —
    Mar 24, 2022 $534,000 2nd Silver LLC Donald R Hewitt Bargain And Sale Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,585,000
      ML approach
      $1,285,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,055,000
      Current use
      AUTO REPAIR, GARAGE
      $1,500,000
      Change: +43% Conversion: Difficult
      OFFICE BUILDING
      $1,365,000
      Change: +30% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,045,000
      Change: -1% Conversion: Difficult
      RETAIL STORES
      $985,000
      Change: -7% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Elko
    County
    Elko
    State
    Nevada
    Longitude
    -115.763
    Latitude
    40.8289
    CBSA code
    21220
    CBSA name
    ELKO, NV MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,769
    $17,500
    $112,755
    $130,255
    -
    $50,000
    $322,157
    $372,157

    Comparable in this City

    • Value Estimation by Request
      53.15 Acres

      8700 Idaho St

      COMMERCIAL (GENERAL)
      8700 Idaho St, Elko, NV 89801
      View Details
    • Value Estimation by Request
      0.03 Acres

      1250 Lamoille Hwy, Unit 836

      COMMERCIAL (GENERAL)
      1250 Lamoille Hwy, Elko, NV 89801-4396
      View Details
    • Value Estimation by Request
      796 SF

      202 8th St

      COMMERCIAL (GENERAL)
      202 8th St, Elko, NV 89801
      View Details
    • Value Estimation by Request
      100 SF

      785 Ash St

      COMMERCIAL (GENERAL)
      785 Ash St, Elko, NV 89801-3365
      View Details
    • Value Estimation by Request
      1,070 SF

      4993 Victory Blvd

      COMMERCIAL (GENERAL)
      4993 Victory Blvd, Elko, NV 89801
      View Details
    • Value Estimation by Request
      1,443 SF

      4810 White Rock Rd

      COMMERCIAL (GENERAL)
      4810 White Rock Rd, Elko, NV 89801
      View Details

    Similar Nearby for Sale

    • $1,700,000
      11,433 SF

      Downtown Elko Commercial Gem

      High-traffic location, three tenants, versatile space.
      118 2Nd St, Elko, NV 89801
      View Details
    • $900,000
      5,000 SF

      Elko Commercial Building - Prime Location

      Versatile 5,000 sq ft commercial space, great income potential.
      1750 Manzanita Ln, Elko, NV 89801
      View Details
    • Contact for pricing
      6.00 Acres

      Elko Nevada Industrial Land

      Undeveloped industrial land with I-80 access in Elko, Nevada.
      6577 Idaho St, Elko, NV 89801
      View Details
    • $59,000
      160.00 Acres

      Elko County Acreage For Sale

      160 acres of rural Elko County land for recreational use.
      58E Mdb&M, Elko, NV 89801
      View Details
    • Contact for pricing
      2.37 Acres

      Nevada Land with Mountain Views

      2.37 acres in Elko, NV with no HOA.
      13Th St, Elko, NV 89801
      View Details
    • $2,000,000
      92.37 Acres

      Unique Elko Land with Water

      92-acre property with water rights in Elko, Nevada.
      12Th St, Elko, NV 89801
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,312 SF

      Elko Warehouse Space Available

      3,312 sq ft warehouse space in a prime location.
      653 River St, Elko, NV 89801
      View Details
    • Contact for pricing
      7,132 SF

      New Development Warehouse Space

      8,000 SF available in Elko, NV.
      177 Walters Ct, Elko, NV 89801
      View Details
    • Contact for pricing
      5,388 SF

      Turnkey Medical Facility Near NNRH

      Well-equipped medical facility adjacent to Northern Nevada Regional Hospital.
      2003 Errecart Blvd, Elko, NV 89801
      View Details
    • Contact for pricing
      8,901 SF

      Historic Building with Modern Functionality

      Remodeled historic building suitable for offices, events, or creative studios.
      240 7Th St, Elko, NV 89801
      View Details
    • Contact for pricing
      996 SF

      Elko Retail Space Available

      996 SF retail space in Rancho Plaza, Elko, Nevada.
      1326 Idaho St, Elko, NV 89801
      View Details
    • Contact for pricing
      1,250 SF

      Elko Office Suite For Rent

      Office suite in multi-tenant building with executive offices and conference area.
      102 N 5Th St, Elko, NV 89801
      View Details
    Request Owner's contact information
    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.
    118 2nd St
    Elko, NV 89801-3615
    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
    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

    Thank You for Inquiry
    118 2nd St, Elko, NV, 89801
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!