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Property profile

1575 Crane Way Sparks, NV 89431

FOR LEASE
Manufacturing properties
Property ID
US62-0762715
48,000 SF 1.53 ac lot Built 1966
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 48,000-square-foot industrial property, located at 1575 Crane Way in Sparks, Nevada, presents a unique investment opportunity. Situated on a 1.53-acre lot, this single-tenant building boasts a versatile design suitable for a variety of uses, including refrigerated/cold storage, manufacturing, flex space, distribution, warehousing, and research & development. Originally constructed in 1992, the property underwent a complete reconfiguration in 2019, with over $4 million invested in capital improvements. These upgrades have transformed the facility, which currently operates as a cannabis extraction, processing, and manufacturing plant. The property features ample front building parking and benefits from a 2,000 AMP power supply. Its zoning designation is "I," and the Assessor's Parcel Number (APN) is 032-250-42. The building's modern infrastructure and flexible layout make it ideal for a wide range of industrial operations. This prime location in Sparks, Nevada (zip code 89431) offers excellent access to transportation networks and a skilled workforce. The property's recent renovations ensure modern functionality and efficiency, making it a highly attractive investment prospect. The combination of size, location, and recent upgrades makes this a truly exceptional industrial property.

Property profile

Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1966
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 48,000 SF
Lot 1.53 ac (66,777 SF)
Zoning code I
APN 032-250-42
UPID US62-0762715

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1575 Crane Way Sparks, NV 89431
Sparks metro Census 3111 RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.10M
Blend (final) Blend
$1.08M

Owner & transaction history

since 2019
2 recorded transactions
2022
Price N/A
2019
$3.4M

Zoning & alternative use

I · Sparks, NV
Zoning description

I district provides intensive work processes such as manufacturing or basic resource handling. These areas are generally located south of I-80 between the western and eastern City boundaries. Other potential areas suited…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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