Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2169 Prater Way Sparks, NV 89431-4712
    Back to Search
    Property profile & analytics

    2169 Prater Way, Sparks, NV 89431-4712

    View on Map
    • Grocery and convenience stores
    • 1,485 SF
    • 0.26 lot acres
    Off-Market
    Last Sale Sep 24, 2020
    $1,000,000
    Property ID
    US62-1129991
    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
    $1,030,000
    Cap Rate Potential
    2.3%
    Grocery and convenience stores
    Location Intelligence

    Current Use by Public Records

    • Marathon / Gas Station
    • Quick Mart / Gas Station
    • Fairway Motors / Gas Station
    • LibertyX Bitcoin ATM / Atm

    Property Details for 2169 Prater Way

    Year built
    1960
    Construction
    METAL FRAME
    Lot size
    0.26 lot acres
    Zone code
    MUD
    Property type
    Grocery and convenience stores
    APN
    032-023-01
    APU
    3202301

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 1, 2020 — Vank Enterprises LLC — Deed · related $317k · Nevada State Development Corporation
    Jul 2, 2019 $475,500 Ask Nevada 1111 Connecticut Street Patner Grant Deed $525k · Falcon Inv
    Dec 28, 2006 — Berry-hinckley Industries 1111 Ct Street Ptrs Grant Deed · related —
    May 18, 2006 $2,443,000 Connecticut Street Ptrs L 1111 Spirit Spe Portfolio 2005-5 Ll Grant Deed $1.4M · Spirit Spe Portfolio 2005-5 Ll
    Oct 13, 2005 — P A Morabito & Co Ltd Bhe LLC Grant Deed —
    Oct 13, 2005 $24,875,000 Spirit Spe Portfolio 2005-5 Ll P A Morabito & Co Ltd Grant Deed —
    Jan 16, 2001 — Bhe LLC — Deed Of Trust · related $33.7M · Wells Fargo Bank
    Jan 12, 2001 $666,000 Berry-hinckley Enterprises LLC Berry,michael J Grant Deed · related —
    — — Enterprises LLC — Deed Of Trust · related $510k · Heritage Bk

    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
    -119.773
    Latitude
    39.5362
    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
    $5,409
    $41,743
    $115,456
    $157,199
    -
    $119,266
    $329,873
    $449,139

    Comparable in this City

    • Value Estimation
      $1,465,000
      5,571 SF

      1606 Glendale Ave

      GROCERY, SUPERMARKET
      1606 Glendale Ave, Sparks, NV 89431
      View Details
    • Value Estimation
      $745,000
      4,500 SF

      2152 Prater Way

      GROCERY, SUPERMARKET
      2152 Prater Way, Sparks, NV 89431-4711
      View Details
    • Value Estimation
      $515,000
      1,927 SF

      1675 Victorian Ave

      CONVENIENCE STORE
      1675 Victorian Ave, Sparks, NV 89431-4822
      View Details
    • Value Estimation
      $1,040,000
      2,705 SF

      1701 Victorian Ave

      GROCERY, SUPERMARKET
      1701 Victorian Ave, Sparks, NV 89431-4824
      View Details
    • Value Estimation
      $595,000
      2,400 SF

      600 15th St

      GROCERY, SUPERMARKET
      600 15th St, Sparks, NV 89431-0936
      View Details
    • Value Estimation
      $755,000
      3,500 SF

      350 Mccarran Blvd

      GROCERY, SUPERMARKET
      350 Mccarran Blvd, Sparks, NV 89431-5442
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,197 SF

      Retail Space in Sparks, Nevada

      Retail spaces available in Sparks, anchored by Walgreens and grocery store.
      2125-2285 Oddie Blvd, Sparks, NV 89431
      View Details
    • Contact for pricing
      10,000 SF

      Retail Building at Major Intersection

      Retail building with dental office and sushi restaurant tenants.
      685 E Prater Way, Sparks, NV 89431
      View Details
    • Contact for pricing
      2,354 SF

      Victorian Saloon Prime Retail Frontage

      Historic bar with prime frontage and entertainment space.
      910 Victorian Ave, Sparks, NV 89431
      View Details
    • $749,999
      2,440 SF

      Sparks Mixed-Use Development Opportunity

      Commercial and residential property near Rail City Casino.
      1921 Victorian Ave, Sparks, NV 89431
      View Details
    • $11,300,000
      132,364 SF

      Sparks Retail Center Value-Add Opportunity

      Multi-tenant retail center in Sparks, Nevada with value-add potential.
      2125-2275 Oddie Blvd, Sparks, NV 89431
      View Details
    • Contact for pricing
      23,958 SF

      Retail Property in Sparks, Nevada

      Retail property available for sale in Sparks, Nevada.
      651 N Mccarran Blvd, Sparks, NV 89431
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,331 SF

      Retail Space on Victorian Avenue

      Prime end-unit retail space in high-traffic Sparks location.
      1746 Victorian Ave, Sparks, NV 89431
      View Details
    • Contact for pricing
      2,744 SF

      Greenbrae Commons Retail Space

      Retail and office spaces available in Sparks, Nevada.
      632 Greenbrae Dr, Sparks, NV 89431
      View Details
    • Contact for pricing

      Sparks Retail Space For Lease

      4,390 SF street-front retail space, ideal for restaurant use.
      2200 Victorian Ave, Sparks, NV 89431
      View Details
    • Contact for pricing
      8,880 SF

      Sparks Retail Space Available

      Retail space available for lease in Sparks, Nevada.
      2855-2955 N Mccarran Blvd, Sparks, NV 89431
      View Details
    • Contact for pricing
      1,076 SF

      Retail Space in Sparks, Nevada

      Retail space available in Sparks, anchored by Walgreens & Grocery Store.
      2193-2195 Oddie Blvd, Sparks, NV 89431
      View Details
    • Contact for pricing
      2,063 SF

      Retail Space in Sparks, Nevada

      Retail space available for lease in Sparks, Nevada.
      1125-1130 Avenue Of The Oaks, Sparks, NV 89431
      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.
    2169 Prater Way
    Sparks, NV 89431-4712
    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

    Thank You for Inquiry
    2169 Prater Way, Sparks, NV, 89431
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!