1320 E Lincoln Way Sparks, NV 89434
- Outlet malls
- 19,448 SF
- 2.22 lot acres
Current Use by Public Records
- Petco / Fish Store / Goldfish Store
- fi.d.o / Pet Supply Store
- Petco Dog Training / Pet Trainer / Dog Trainer
- Just Floor it! / Carpet Store / Flooring Contractor
- Petco Vaccination Clinic / Veterinarian
Property Details for 1320 E Lincoln Way
- Year built
- 2016
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.22 lot acres
- Property size
- 19,448 SF
- Zone code
- NUD
- Property type
- Outlet malls
- APN
- 037-400-14
- APU
- 3740014
Description
This exceptional 19,500 square foot shopping center in Sparks, Nevada, presents a compelling investment opportunity. Located at 1320 E Lincoln Way, this single-story, three-tenant property boasts a strong 100% occupancy rate, anchored by Petco. The center benefits from an average remaining lease term of 8.5 years, ensuring consistent cash flow. Built in 2016, the property sits on a 2.22-acre lot and enjoys a prime location adjacent to TJ Maxx and Target within the Outlets at Legends, Reno's premier power center attracting over 10.1 million visitors annually. The property's Net Operating Income (NOI) is $379,476, yielding a 6.70% cap rate. The asking price is $5,664,000, translating to a price per square foot of $290.46. This NNN-leased property offers excellent tenant synergy and a secure, long-term investment prospect within a high-traffic retail environment. The property's strategic location within a thriving power center ensures consistent foot traffic and strong rental income. This is a rare opportunity to acquire a well-positioned, high-performing retail asset in a desirable Nevada market. The strong leases and long-term tenant commitments provide a stable and predictable income stream for years to come. This property is an ideal addition to any diversified real estate portfolio.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,335,000
- ML approach
- $3,320,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $7,495,000
- 6.5%
- $6,920,000
- 7%
- $6,425,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $3,410,000
Market price range: $741k - $3.41M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $5,915,000 Current use
- INDUSTRIAL (GENERAL)
- $8,025,000 Change: +36% Conversion: Difficult
- MEDICAL BUILDING
- $6,805,000 Change: +15% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $6,730,000 Change: +14% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $6,420,000 Change: +9% Conversion: Difficult
- OFFICE BUILDING
- $5,390,000 Change: -9% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Sparks
- County
- Washoe
- State
- Nevada
- Longitude
- -119.72
- Latitude
- 39.5356
- CBSA code
- 39900
- CBSA name
- RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
