Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    240 Freeport Blvd Sparks, NV 89431-6221

    • Industrial properties
    • 21,120 SF
    • 2.13 lot acres
    OFF-MARKET
    Last Sale
    Apr 12, 2024
    $6,577,611
    Value Estimations
    $6,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0361962
    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

    • JD Auto Trim / Auto Upholsterer / Upholstery Shop
    • Juggernaut Arms / Gun Shop
    • D&C Classic Garage / Auto Auction
    • Computer Sparks / Computer Service
    • A1 Garage Door Service / Garage Door Supplier / Repair Service

    Property Details for 240 Freeport Blvd

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.13 lot acres
    Property size
    21,120 SF
    Zone code
    I
    Property type
    Industrial properties
    APN
    034-342-04
    APU
    3434204

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,580,000
      ML approach
      $6,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,261,000
      Market price range: $4.35M - $11.7M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $6,095,000
      Current use
      MEDICAL BUILDING
      $7,390,000
      Change: +21% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $6,970,000
      Change: +14% Conversion: Difficult
      RETAIL STORES
      $5,660,000
      Change: -7% Conversion: Moderate
      OFFICE BUILDING
      $5,455,000
      Change: -10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $5,295,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparks
    County
    Washoe
    State
    Nevada
    Longitude
    -119.745
    Latitude
    39.5261
    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
    $16,546
    $292,263
    $276,300
    $568,563
    -
    $835,038
    $789,428
    $1,624,466

    Comparable in this City

    • Value Estimation
      $170,000
      1,668 SF

      1467 Greg St

      INDUSTRIAL (GENERAL) • 1,668 SF
      1467 Greg St, Sparks, NV 89431-5914
      View Details
    • Value Estimation
      $305,000
      2,250 SF

      10 Greg St Ste, Unit 140

      INDUSTRIAL (GENERAL) • 2,250 SF
      10 Greg St Ste, Sparks, NV 89431-6232
      View Details
    • Value Estimation
      $195,000
      2,250 SF

      10 Greg St Ste, Unit 166

      INDUSTRIAL (GENERAL) • 2,250 SF
      10 Greg St Ste, Sparks, NV 89431-6234
      View Details
    • Value Estimation
      $8,425,000
      34,925 SF

      50 Freeport Blvd

      INDUSTRIAL (GENERAL) • 34,925 SF
      50 Freeport Blvd, Sparks, NV 89431-6274
      View Details
    • Value Estimation
      $480,000
      14,000 SF

      1200 Freeport Blvd

      INDUSTRIAL (GENERAL) • 14,000 SF
      1200 Freeport Blvd, Sparks, NV 89431-6006
      View Details
    • Value Estimation
      $7,070,000
      18,480 SF

      360 Freeport Blvd

      INDUSTRIAL (GENERAL) • 18,480 SF
      360 Freeport Blvd, Sparks, NV 89431-6224
      View Details

    Similar Nearby for Sale

    • $1,299,000
      3.01 Acres

      Reno Industrial Land - 3 Acres

      Prime industrial land near I-580/395.
      0 Virginia St, Sparks, NV 89431
      View Details
    • $4,900,000
      22,968 SF

      Sparks Industrial Complex: $4.9M

      Multi-tenant industrial property, high ROI.
      910 Glendale Ave, Sparks, NV 89431
      View Details
    • $2,750,000
      9,940 SF

      Sparks Warehouse: $2.75M

      Industrial warehouse, 9,940 SF, Nevada.
      320 Coney Island Dr, Sparks, NV 89431
      View Details
    • $9,500,000
      57,320 SF

      Sparks Industrial Building For Sale

      Freestanding industrial building in Sparks, fully leased to single tenant.
      1301 E Glendale Ave, Sparks, NV 89431
      View Details
    • $4,810,000
      23,845 SF

      Sparks Industrial Net-Leased Opportunity

      Net-leased industrial building in Sparks, renovated in 2022.
      865-871 Deming Way, Sparks, NV 89431
      View Details
    • $9,500,000
      57,320 SF

      Sparks Warehouse Property For Sale

      57,320 SF warehouse/industrial property in Sparks, Nevada.
      1325 Glendale Ave, Sparks, NV 89431
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      40,040 SF

      Sparks Industrial Space Available

      Industrial property with 40,040 square feet available for lease.
      1150 Southern Way, Sparks, NV 89431
      View Details
    • Contact for pricing
      55,515 SF

      Sparks Industrial Space Available

      Industrial property available for rent in Sparks, Nevada.
      905-1485 Southern Way, Sparks, NV 89431
      View Details
    • Contact for pricing
      20,121 SF

      Sparks Industrial Space Available

      27,036 SF industrial space for rent in Sparks, Nevada.
      900-1000 Southern Way, Sparks, NV 89431
      View Details
    • $13 SF/Yr
      4,000 SF

      Sparks Industrial Space Available

      Industrial property available for lease in Sparks, Nevada.
      27 E Freeport Blvd, Sparks, NV 89431
      View Details
    • Contact for pricing
      8,600 SF

      Industrial Space in Sparks, Nevada

      8,600 SF industrial property available for rent.
      50 E Greg St, Sparks, NV 89431
      View Details
    • Contact for pricing
      25,851 SF

      Sparks Industrial Space Available

      Industrial property available for lease in Sparks, Nevada.
      1001-1081 E Glendale Ave, 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.
    240 Freeport Blvd
    Sparks, NV 89431-6221
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.