Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1495 Prater Way Sparks, NV 89434-8051
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1495 Prater Way Sparks, NV 89434-8051

    View on Map
    • Turn key restaurants
    • 15,740 SF
    • 1.68 lot acres
    Off-Market
    Last Sale May 31, 2023
    $6,725,000
    Property ID
    US62-0093602
    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
    $6,305,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Marina Marketplace / Shopping Center & Mall
    • Subway / Take-out & Catering
    • Hiroba Sushi / Restaurant
    • Bubble Tea Station / Cafe & Coffee Shop
    • Biggest Little Vape Shop / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice

    Property Details for 1495 Prater Way

    Year built
    2003
    Construction
    WOOD
    Lot size
    1.68 lot acres
    Property size
    15,740 SF
    Zone code
    MUD
    Property type
    Turn key restaurants
    APN
    037-020-43
    APU
    3702043

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,230,000
      ML approach
      $5,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,257,000
      Market price range: $4.22M - $15.7M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $8,880,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparks
    County
    Washoe
    State
    Nevada
    Longitude
    -119.716
    Latitude
    39.5415
    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
    $37,087
    $358,273
    $715,582
    $1,073,855
    -
    $1,023,638
    $2,044,520
    $3,068,158

    Comparable in this City

    • Value Estimation
      $805,000
      7,393 SF

      1481 Lincoln Way

      RESTAURANT • 7,393 SF
      1481 Lincoln Way, Sparks, NV 89434-7904
      View Details
    • Value Estimation
      $835,000
      8,554 SF

      425 Sparks Blvd

      RESTAURANT • 8,554 SF
      425 Sparks Blvd, Sparks, NV 89434-9002
      View Details
    • Value Estimation by Request
      4,106 SF

      2898 Vis Blvd

      RESTAURANT • 4,106 SF
      2898 Vis Blvd, Sparks, NV 89434-8042
      View Details
    • Value Estimation
      $27,000,000
      9,488 SF

      1560 Lincoln Way

      RESTAURANT • 9,488 SF
      1560 Lincoln Way, Sparks, NV 89434-8989
      View Details
    • Value Estimation
      $730,000
      6,294 SF

      1805 Lincoln Way

      RESTAURANT • 6,294 SF
      1805 Lincoln Way, Sparks, NV 89434-8952
      View Details
    • Value Estimation
      $1,095,000
      9,679 SF

      1490 Prater Way

      DRIVE-THRU RESTAURANT, FAST FOOD • 9,679 SF
      1490 Prater Way, Sparks, NV 89434-8968
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      76,665 SF

      Retail Property in Sparks, Nevada

      Retail property available for sale in Sparks, Nevada.
      1565 E Lincoln Way, Sparks, NV 89434
      View Details
    • Contact for pricing

      Sparks Blvd Land Parcels

      9.97 AC of commercial land near Sparks Crossing.
      5358 Sparks Blvd, Sparks, NV 89434
      View Details
    • Contact for pricing

      Industrial Land Near Tesla Gigafactory

      17.67 acres of industrial land for sale near I-80.
      150 Denmark Dr, McCarran, NV 89434
      View Details
    • Contact for pricing

      Land Available in Sparks

      Land for sale on Scheels Dr, Sparks, NV.
      Scheels Dr, Sparks, NV 89434
      View Details
    • $475,000
      7.80 Acres

      Sparks, NV Land Opportunity

      Almost 8 acres of Nevada land with river access.
      12615 Mustang Rd, Sparks, NV 89434
      View Details
    • Contact for pricing

      Sparks Blvd Land Parcels

      9.97 AC of land near Sparks Crossing.
      5242 Sparks Blvd, Sparks, NV 89434
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Pad in Tahoe-Reno Center

      Retail pad for lease in Tahoe-Reno Industrial Center.
      Usa Pkwy, McCarran, NV 89434
      View Details
    • Contact for pricing

      Grocer Anchored Shopping Center Space

      Nearly 120,000 square-foot shopping center on high-traffic Vista Blvd.
      N D'andrea Pkwy, Sparks, NV 89434
      View Details
    • Contact for pricing
      650 SF

      Retail Space on Baring Boulevard

      Retail space available for lease in Sparks, Nevada.
      1325-1353 Baring Blvd, Sparks, NV 89434
      View Details
    • Contact for pricing

      Comprehensive Retail Center in Nevada

      Premier retail destination with diverse anchor tenants and outlet stores.
      1565 E Lincoln Way, Sparks, NV 89434
      View Details
    • Contact for pricing
      3,743 SF

      Retail Space in Sparks Marina

      3,743 SF retail space in a high-traffic shopping center.
      1320 E Lincoln Way, Sparks, NV 89434
      View Details
    • Contact for pricing
      4,710 SF

      Legends at Sparks Marina Retail

      Open-air shopping and dining destination in Sparks, Nevada.
      1310-1330 Scheels Dr, Sparks, NV 89434
      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.
    1495 Prater Way
    Sparks, NV 89434-8051
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!