Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1855 Sullivan Ln Sparks, NV 89531
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1855 Sullivan Ln Sparks, NV 89531

    View on Map
    • Office buildings
    • 14,432 SF
    • 0.58 lot acres
    For Lease
    $1.25 SF/Yr
    View Listing →
    1855 Sullivan Lane, Sparks, NV 89531 For Lease
    $1.25 SF/Yr

    1855 Sullivan Lane, Sparks, NV 89531

    Two-story office building with rent-ready suites and conference room.

    1855 Sullivan Ln, Sparks, NV 89531
    View Listing
    Property ID
    US62-1005917
    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

    • Primerica / Insurance Agency
    • Avail Enterprises LLC / Construction Company / General Contractor
    • Claude Marsh: Primerica - Financial Services / Financial Advisor
    • Hoffman Plumbing / Plumbing Service / General Contractor
    • Natura Pest Control / Garden Center

    Property Details for 1855 Sullivan Ln

    Year built
    1979
    Construction
    WOOD
    Lot size
    0.58 lot acres
    Property size
    14,432 SF
    Zone code
    MF5
    Property type
    Office buildings
    APN
    026-422-01
    APU
    2642201

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparks
    County
    Washoe
    State
    Nevada
    Longitude
    -119.772
    Latitude
    39.5497
    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
    $4,567
    $66,090
    $196,202
    $262,292
    -
    $188,828
    $560,578
    $749,406

    Comparable in this City

    • Value Estimation by Request
      744 SF

      1960 Hymer Ave

      OFFICE BUILDING • 744 SF
      1960 Hymer Ave, Sparks, NV 89431-5538
      View Details
    • Value Estimation by Request
      890 SF

      601 Pyramid Way

      OFFICE BUILDING • 890 SF
      601 Pyramid Way, Sparks, NV 89431-5060
      View Details
    • Value Estimation
      $510,000
      3,238 SF

      518 Pyramid Way

      OFFICE BUILDING • 3,238 SF
      518 Pyramid Way, Sparks, NV 89431-5057
      View Details
    • Value Estimation
      $550,000
      4,064 SF

      1555 Oddie Blvd

      OFFICE BUILDING • 4,064 SF
      1555 Oddie Blvd, Sparks, NV 89431-1269
      View Details
    • Value Estimation
      $1,295,000
      5,650 SF

      255 Glendale Ave

      OFFICE BUILDING • 5,650 SF
      255 Glendale Ave, Sparks, NV 89431-5775
      View Details
    • Value Estimation by Request
      1,983 SF

      2125 Grn Vis Dr

      OFFICE BUILDING • 1,983 SF
      2125 Grn Vis Dr, Sparks, NV 89431-8545
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      723 SF

      Sparks Office Building with Yard

      723 SF office building with yard in Sparks, Nevada.
      1900 Frazer Ave, Sparks, NV 89431
      View Details
    • $5,500,000
      28,490 SF

      Multi-Tenant Medical/Office/Lab Property

      28,490 SF multi-tenant medical/office/lab property in Sparks, NV.
      255 Glendale Ave, Sparks, NV 89431
      View Details
    • $610,000

      Renovated Office Conversion with Studio

      Two-story office conversion with studio in downtown Sparks.
      1645 D St, Sparks, NV 89431
      View Details
    • $515,000
      2,000 SF

      Sparks Office Space For Sale

      Tenant-occupied office space with lease until November 2028.
      2145 Green Vista Dr, Sparks, NV 89431
      View Details
    • New
      $415,000
      1,260 SF

      Sparks Office Condo For Sale

      Well-maintained office condo in Wildcreek Business Park, Sparks, Nevada.
      2225 Green Vista Dr, Sparks, NV 89431
      View Details
    • $779,000
      1,648 SF

      Mixed-Use Property on Rock Blvd

      Mixed-use property ideal for medical, dental, or professional services.
      1001 Rock Blvd, Sparks, NV 89431
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Greenbrae Commons Retail/Office Space

      Office and retail spaces for rent in Sparks, Nevada.
      670 Greenbrae Dr, Sparks, NV 89431
      View Details
    • Contact for pricing
      1,568 SF

      Sparks Office Space Available Soon

      Well-maintained Sparks office space, move-in ready, available 6/30/24.
      1301 N Mccarran Blvd, Sparks, NV 89431
      View Details
    • $1.25 SF/Yr
      2,526 SF

      Sparks Warehouse with Drive-Through Access

      2,526 SF warehouse with drive-through and private offices.
      155 Glendale Ave, Sparks, NV 89431
      View Details
    • Contact for pricing

      Sparks Industrial Building Sublease Opportunity

      Freestanding industrial building in Sparks with excellent I-80 access.
      1450 E Greg St, Sparks, NV 89431
      View Details
    • Contact for pricing

      Sparks Flex Space Available

      Flex space with office, overhead doors, and fenced parking.
      1007 Greg St, Sparks, NV 89431
      View Details
    • Contact for pricing
      700 SF

      Greenbrae Drive Office Space

      Office space in Sparks, NV, with recent upgrades.
      680 Greenbrae Dr, Sparks, NV 89431
      View Details
    View Listing
    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.
    1855 Sullivan Ln
    Sparks, NV 89531
    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!