292 Los Altos Pkwy Sparks, NV 89436-7708
Property profile & analytics
292 Los Altos Pkwy, Sparks, NV 89436-7708
- Outlet malls
- 13,169 SF
- 1.78 lot acres
Property ID
US62-1051669
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.
Location Intelligence
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Kenny H. Pham, Pharm / Pharmacy
- COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
- FedEx OnSite / Postal Service / Courier Service
Property Details for 292 Los Altos Pkwy
- Year built
- 2006
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.78 lot acres
- Zone code
- NUD
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 510-492-16
- APU
- 51049216
Description
This exceptional investment opportunity presents a 13,302 square foot Walgreens located at 292 Los Altos Pkwy, Sparks, NV 89436, within the Reno MSA. The property boasts a strong 7.00% cap rate and a long-term, absolute NNN lease with Walgreens, a creditworthy national tenant, extending until April 30, 2035, with a remaining term of 10.4 years. The lease includes built-in rent bumps of 5% every 5 years, providing consistent income growth. Situated on a 1.77-acre lot, this single-tenant retail property benefits from excellent visibility on a signalized corner with high daily traffic counts of 22,765 vehicles. The property is surrounded by other national retailers, including Costco, Walmart, and Best Buy, indicating a strong retail environment. The location enjoys a high average household income of $106,273 within a one-mile radius. Built in 2006, this property offers a secure investment with significant upside potential, given the projected 52% job growth in the Reno MSA over the next decade. The asking price is $4,634,743, and the net operating income (NOI) is $324,432. Please note that certain property details, including rentable area, lot size, lease terms, and building specifications, are estimates and should be verified during due diligence.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,685,000
- ML approach
- $2,760,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $5,075,000
- 6.5%
- $4,685,000
- 7%
- $4,350,000
-
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $4,005,000 Current use
- INDUSTRIAL (GENERAL)
- $5,435,000 Change: +36% Conversion: Difficult
- MEDICAL BUILDING
- $4,605,000 Change: +15% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $4,555,000 Change: +14% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $4,345,000 Change: +9% Conversion: Difficult
- OFFICE BUILDING
- $3,650,000 Change: -9% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Sparks
- County
- Washoe
- State
- Nevada
- Longitude
- -119.74
- Latitude
- 39.5843
- 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
$28,412
$325,164
$539,323
$864,487
-
$929,040
$1,540,922
$2,469,962
