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    1509 6Th St Wells, NV 89835
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    1509 6Th St Wells, NV 89835

    View on Map
    • Motels
    • 21,698 SF
    • 1.00 lot acres
    For Sale
    $3,500,000
    View Listing →
    Nevada Commercial Property For Sale For Sale
    $3,500,000
    21,698 SF

    Nevada Commercial Property For Sale

    Commercial property in Wells, Nevada, with highway access and visibility.

    1509 6th St, Wells, NV 89835
    View Listing
    Property ID
    US62-0931597
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Motels

    Property Details for 1509 6Th St

    Year built
    1992
    Construction
    WOOD
    Lot size
    1.00 lot acres
    Property size
    21,698 SF
    Zone code
    TC
    Property type
    Motels
    APN
    002-760-038
    APU
    2760038

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,070,000
      6.5%
      $1,910,000
      7%
      $1,775,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,313,000
      Market price range: $380k - $2.16M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,600,000
      Current use
      RETAIL STORES
      $2,600,000
      WAREHOUSE, STORAGE
      $2,585,000
      Change: -0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wells
    County
    Elko
    State
    Nevada
    Longitude
    -114.954
    Latitude
    41.1016
    CBSA code
    21220
    CBSA name
    ELKO, NV MICROPOLITAN 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
    $19,761
    $18,695
    $565,304
    $583,999
    -
    $53,414
    $1,615,154
    $1,668,568

    Comparable in this City

    • Value Estimation
      $1,615,000
      18,899 SF

      904 6th St

      MOTEL • 18,899 SF
      904 6th St, Wells, NV 89835
      View Details
    • Value Estimation by Request
      4,053 SF

      635 6th St

      MOTEL • 4,053 SF
      635 6th St, Wells, NV 89835-8008
      View Details
    • Value Estimation
      $1,705,000
      9,196 SF

      1561 6th St

      MOTEL • 9,196 SF
      1561 6th St, Wells, NV 89835
      View Details
    • Value Estimation by Request
      8,942 SF

      560 6th St

      MOTEL • 8,942 SF
      560 6th St, Wells, NV 89835
      View Details
    • Value Estimation
      $645,000
      10,614 SF

      765 Humboldt Ave

      MOTEL • 10,614 SF
      765 Humboldt Ave, Wells, NV 89835
      View Details
    • Value Estimation by Request
      5,784 SF

      676 6th St

      MOTEL • 5,784 SF
      676 6th St, Wells, NV 89835
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,033 SF

      Mixed-Use Commercial Property in Wells

      Mixed-use property with hotel, restaurant, and RV park components.
      755 Humboldt Ave, Wells, NV 89835
      View Details
    • Contact for pricing
      21,698 SF

      Nevada Commercial Property For Sale

      Commercial property in Wells, Nevada, with highway access and visibility.
      1509 6Th St, Wells, NV 89835
      View Details
    • $214,050
      14.28 Acres

      Industrial Land Parcel in Wells

      14.27-acre industrial parcel near I-80 and US 93.
      Us Hwy 93, Wells, NV 89835
      View Details
    • $110,750
      4.44 Acres

      Industrial Land in Wells, Nevada

      4.43-acre industrial land parcel with highway frontage in Wells.
      N Us Hwy 93, Wells, NV 89835
      View Details
    • $5,000,000
      34,060 SF

      Industrial Facility on 9.28 Acres

      34,060 sq ft industrial facility suitable for various operations.
      1120 Hacienda Rnch Rd, Wells, NV 89835
      View Details
    • $110,000
      160.11 Acres

      Nevada Land with Domestic Well

      160 acres of residential and recreational land near Wells, Nevada.
      Pilot Rd, Wells, NV 89835
      View Details
    View Listing
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    Wells, NV 89835
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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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