2302 Oddie Blvd Sparks, NV 89431
- Strip malls
- 12,480 SF
- 8.12 lot acres
Current Use by Public Records
- A1 Indian Grocery / Indian Grocery Store
- A-1 Appliannces & Video / Appliance Store / Vacuum Cleaner Store
Property Details for 2302 Oddie Blvd
- Year built
- 1980
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 8.12 lot acres
- Property size
- 12,480 SF
- Zone code
- MUD
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 026-284-34
- APU
- 2628434
Description
This exceptional 2.37-acre commercial land parcel in Sparks, Nevada (APN 026-284-34), is zoned for mixed-use development and offers a unique opportunity to construct a 108-unit multifamily project. The approved plans include three three-story buildings, each housing 36 units, supported by 108 surface parking spaces. Situated within the Evergreen Plaza Shopping Center at 2302 Oddie Blvd, zip code 89431, this site benefits from its proximity to the thriving Oddie District, an urban infill redevelopment project featuring diverse businesses such as Mythic Gymnastics, The Innovation Collective, Cartwheel Robotics, CoffeeBar, Fifty Fifty Brewing Company, and Nevada Works. The location also enjoys convenient access to major transportation arteries, including Interstate 80 and Interstate 580, and is just seven minutes from the University of Nevada, Reno. Recent infrastructure improvements, including a $55 million road upgrade project enhancing the Oddie-Wells Corridor, further enhance the site's appeal. The property's location near established retailers like Walgreens, Dollar Tree, and numerous restaurants, as well as major employers such as Amazon, Chewy, and others, ensures strong rental demand. This is an ideal location for an affordable housing development in a HUD Qualified Census Tract zone. The asking price for this exceptional development opportunity is $2,160,000. The retail portion of the Evergreen Plaza Shopping Center may be acquired separately.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $5,070,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $6,330,000
- 6.5%
- $5,530,000
- 7%
- $5,865,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $6,220,000
- Geo Method
- $4,910,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $5,250,000
- Retail
- $4,785,000
- Mixed-Use
- $6,350,000
- Hospitality
- $4,920,000
- Educational
- $5,845,000
- Residential Income
- $6,415,000
- Energy
- $4,980,000
- Income-Based Land
- $4,890,000
- Food Service
- $5,955,000
Location Insight
- Map
- Local Demand
- City
- Sparks
- County
- Washoe
- State
- Nevada
- Longitude
- -119.777
- Latitude
- 39.5463
- CBSA code
- 39900
- CBSA name
- RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
