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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    215 Main St Fernley, NV 89408

    • Commercial real estate
    • 5,872 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $1,020,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0890422
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 215 Main St

    Year built
    1967
    Lot size
    0.23 lot acres
    Property size
    5,872 SF
    Zone code
    C1
    Property type
    Commercial real estate
    APN
    020-041-67
    APU
    2004167

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,413,000
      Market price range: $713k - $2.79M
      AI Estimate
      $630,000
      Market price range: $258k - $985k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fernley
    County
    Lyon
    State
    Nevada
    Longitude
    -119.247
    Latitude
    39.6073
    CBSA code
    22280
    CBSA name
    FERGUS FALLS, MN 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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $197,200
    $136,287
    $333,487

    Comparable in this City

    • Value Estimation by Request
      10.00 Acres

      Fernley Nv 89408

      Land • 10.00 Acres
      0 Fernley Nv 89408, Fernley, NV 89408
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    • Value Estimation by Request
      1.50 Acres

      470 Main St

      COMMON AREA (COMMERCIAL) • 1.50 Acres
      470 Main St, Fernley, NV 89408
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    • Value Estimation
      $15,910,000
      128,409 SF

      375 Stanley E Dr

      COMMERCIAL (GENERAL) • 128,409 SF
      375 Stanley E Dr, Fernley, NV 89408-8938
      View Details
    • Value Estimation by Request
      1,525 SF

      290 St

      COMMERCIAL (GENERAL) • 1,525 SF
      290 St, Fernley, NV 89408-9712
      View Details
    • Value Estimation
      $3,635,000
      20,893 SF

      625 Desert Shadows Ln

      COMMERCIAL (GENERAL) • 20,893 SF
      625 Desert Shadows Ln, Fernley, NV 89408-9205
      View Details
    • Value Estimation by Request
      30.40 Acres

      Interstate 80

      Land • 1,324,224 SF
      0 Interstate 80, Fernley, NV 89408
      View Details

    Similar Nearby for Sale

    • $1,650,000
      10.00 Acres

      Fernley Commercial Land - 10 Acres

      Prime Hwy 50A location, 10 acres, C-2 zoning
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      5.52 Acres

      Fernley Commercial Land Investment

      5.5 Acres, Prime Location, C1 & C2 Zoning
      1340 Newlands Dr, Fernley, NV 89408
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    • $5,500,000
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      Fernley Townhome Development Site

      66-unit townhome development site in Fernley, Nevada.
      905 Hardie Ln, Fernley, NV 89408
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    • $34,000
      40.00 Acres

      Nevada Land for Ranch or Recreation

      40 acres near BLM land, ideal for ranching or recreation.
      Apn 021-451-32, Fernley, NV 89408
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    • $785,000
      46 SF

      46.60 Acres on Highway 95A

      46.60 acres of flat land for sale in Fernley, NV.
      Highway 95A, Fernley, NV 89408
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    • Contact for pricing
      101,403 SF

      Fernley Development Land For Sale

      2.35 acres of commercial land with excellent accessibility and visibility.
      1 Inglewood Dr E, Fernley, NV 89408
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    Similar Nearby for Lease

    • $15 SF/Yr
      551 SF

      Fernley Office Space Available

      Office space available for lease in Fernley, Nevada.
      45 W Cedar St, Fernley, NV 89408
      View Details
    • Contact for pricing
      105,040 SF

      Fernley Warehouse Space Available

      Available warehouse space in Fernley, Nevada, totaling 105,040 square feet.
      Commerce Ctr Dr, Fernley, NV 89408
      View Details
    • $16 SF/Yr
      3,240 SF

      Fernley Flex/Industrial Space Available

      Flex/industrial space available for lease in Fernley, Nevada.
      868-890 Cottonwood Ln, Fernley, NV 89408
      View Details
    • $1,700 /Mo
      990 SF

      Commercial Building on Main Street

      Commercial building on Main Street in Fernley, Nevada available for rent.
      145 Main St, Fernley, NV 89408
      View Details
    • Contact for pricing
      9,600 SF

      Fernley Shopping Center Development Opportunity

      Ground lease and build-to-suit options available in Fernley, Nevada.
      1600 E Newlands Dr, Fernley, NV 89408
      View Details
    • Contact for pricing
      7,000 SF

      New Shopping Center Development Available

      Ground lease and build-to-suit options in Fernley shopping center.
      Stanley Dr, Fernley, NV 89408
      View Details
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    215 Main St
    Fernley, NV 89408
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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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