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    Property profile & analytics

    123 W Nye Ln Carson City, NV 89706

    • Office buildings
    • 44,304 SF
    • 2.97 lot acres
    For Lease
    View listing
    Last Sale
    Jul 08, 2024
    Value Estimations
    $1,215,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0942364
    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.

    Current Use by Public Records

    • RibbedTee / Clothing Store
    • John Binns-Catalyst Lending NMLS ID 343868 / Loan Service / Bank
    • Talintel, Inc. / (Bike/Boat/Book/etc) Store / Corporate Office
    • Flooding Sensors / Plumbing Service / Building Supply
    • Hanger Clinic: Prosthetics & Orthotics / Orthotics & Prosthetics Service / Medical Clinic

    Property Details for 123 W Nye Ln

    Year built
    1990
    Lot size
    2.97 lot acres
    Property size
    44,304 SF
    Zone code
    RC
    Property type
    Office buildings
    APN
    002-061-26
    APU
    206126

    Description

    This exceptional 44,304 square foot traditional office building is situated on a 6.8-acre lot in Carson City, Nevada, at 123 W. Nye Ln, zip code 89706. The property boasts a highly desirable location on the north end of Carson City, offering convenient proximity to Carson City Hospital, city and county government offices, and the Nevada State Capitol complex. Currently, there are 13 available office spaces ranging in size from 336 square feet to 2,773 square feet, with a total of 4,553 square feet currently vacant. The building is zoned RC (Residential-Commercial), providing flexibility for a variety of uses. The multiple tenancy structure presents an excellent opportunity for investors seeking a diversified income stream. The property's substantial size and prime location make it an ideal investment for both established businesses and new ventures seeking a prominent presence in Carson City. This is a rare opportunity to acquire a well-located, sizable office building in a thriving Nevada community. The property's strategic location near key government and healthcare facilities ensures high visibility and accessibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $865,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,563,000
      Market price range: $1.26M - $3.61M

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

    Location Insight

    • Map
    • Local Demand
    City
    Carson City
    County
    Carson City
    State
    Nevada
    Longitude
    -119.767
    Latitude
    39.186
    CBSA code
    16180
    CBSA name
    CARSON CITY, NV METROPOLITAN 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
    $41,291
    $237,723
    $1,000,020
    $1,237,743
    -
    $679,208
    $2,857,200
    $3,536,408

    Comparable in this City

    • Value Estimation by Request
      1,140 SF

      1214 Roop St

      PROFESSIONAL BUILDING • 1,140 SF
      1214 Roop St, Carson City, NV 89706-3107
      View Details
    • Value Estimation
      $1,595,000
      44,456 SF

      1550 College Pkwy

      PROFESSIONAL BUILDING • 44,456 SF
      1550 College Pkwy, Carson City, NV 89706-7944
      View Details
    • Value Estimation
      $2,710,000
      2,100 SF

      3691 Arrowhead Dr

      PROFESSIONAL BUILDING • 2,100 SF
      3691 Arrowhead Dr, Carson City, NV 89706-2008
      View Details
    • Value Estimation
      $1,620,000
      48,799 SF

      4150 Technology Way

      PROFESSIONAL BUILDING • 48,799 SF
      4150 Technology Way, Carson City, NV 89706-2026
      View Details
    • Value Estimation by Request
      1,456 SF

      3151 Carson St

      PROFESSIONAL BUILDING • 1,456 SF
      3151 Carson St, Carson City, NV 89706-0154
      View Details
    • Value Estimation by Request
      9,100 SF

      1761 College Pkwy

      PROFESSIONAL BUILDING • 9,100 SF
      1761 College Pkwy, Carson City, NV 89706-7998
      View Details

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    Similar Nearby for Lease

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    • Contact for pricing
      1,357 SF

      Carson City Office Space Available

      Office space for rent in accessible Carson City location.
      123 W Nye Ln, Carson City, NV 89706
      View Details
    • $15 SF/Yr
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      Prime Carson City location; flexible spaces available.
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      View Details
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    Carson City, NV 89706
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    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
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