1320 E Lincoln Way Sparks, NV 89434
Property profile & analytics
1320 E Lincoln Way, Sparks, NV 89434
- Outlet malls
- 19,448 SF
- 2.22 lot acres
Property ID
US62-0722742
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.
Location Intelligence
Current Use by Public Records
- Petco / (Bike/Boat/Book/etc) Store / Pet Store & Service
- fi.d.o / (Bike/Boat/Book/etc) Store / Pet Store & Service
- Petco Dog Training / Animal Training
- Just Floor it! / Carpet & Flooring Store / Hardware & Home Improvement
- Petco Vaccination Clinic / Veterinary Clinic
Property Details for 1320 E Lincoln Way
- Year built
- 2016
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.22 lot acres
- Zone code
- NUD
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- 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
based on Realmo’s proprietary methodology
-
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
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
2023
$52,796
$659,111
$912,645
$1,571,756
-
$1,883,174
$2,607,558
$4,490,732
