1408 Pittman Ave Sparks, NV 89431-5617

This exceptional investment opportunity presents a Net Lease (NNN) industrial property located at 1408 Pittman Ave, Sparks, NV 89431. The property encompasses a 2.47-acre fenced lot with two buildings totaling 8,866 square feet of net rentable space. The main structure features a two-story office building, a two-bay shop with 21-foot ceilings and 18-foot roll-up doors, ample storage, a lunchroom, and additional dispatch offices. A separate single-story stone building serves as an office. The property is currently 100% occupied by Cal Nevada Towing under a single-tenant Net Lease (NN+) agreement expiring December 31, 2027, with a remaining term of approximately 3.1 years. The current annual Net Operating Income (NOI) is $139,994, yielding a 5.50% cap rate and a pro-forma cap rate of 5.60%. The lease includes a 3% rent increase upon renewal in year six. The property was built in 1965 and 1991 and is zoned for industrial use. The current owner pays property taxes and covers major system repairs; the tenant is responsible for all utilities. Upon lease renewal, the tenant will assume property taxes. This property offers a strong, reliable income stream with significant potential for future rent escalation and a tenant responsible for most operational costs. The asking price is $2,500,000, representing a price per square foot of $281.98. This is a rare opportunity to acquire a well-located, income-producing industrial property in a thriving Nevada market. The property's features include a large fenced yard ideal for vehicle storage and operations.