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

    390 Freeport Blvd Sparks, NV 89431

    • Industrial properties
    • 17,556 SF
    • 1.99 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    Oct 31, 2022
    $4,250,000
    Value Estimations
    $3,650,000
    Cap Rate Potential
    2.6%
    Industrial properties
    Location Intelligence
    Property ID
    US62-0366010
    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

    • Custom Caps, Shirts, Etc. / Embroidery Shop / Hat Shop
    • Jenny's Studio of Dance / Dance School
    • Leontine Gourmet Foods / Wholesale Grocer
    • Spray Foam Genie Reno / Insulation Contractor
    • Legion Solar Power LLC / Solar Energy Company

    Property Details for 390 Freeport Blvd

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.99 lot acres
    Property size
    17,556 SF
    Zone code
    I
    Property type
    Industrial properties
    APN
    034-342-01
    APU
    3434201

    Description

    This exceptional industrial flex property, located at 390 Freeport Blvd in Sparks, Nevada (Washoe County, zip code 89431), offers three available spaces ranging from 932 to 3,886 square feet within a total building area of 39,369 square feet. The property is zoned "I" (Industrial) and features extensive recent improvements, including a new facade, fresh paint, energy-efficient LED lighting, and newly constructed office spaces. Ten 10-foot grade-level doors with 12-foot clearance provide easy access for loading and unloading. The units are equipped with Reznor heating and swamp coolers, and each includes private restrooms. Ample on-site parking is available for tenants and their visitors. The property boasts a highly desirable location in the airport submarket, offering convenient access to downtown Reno and Sparks, as well as major transportation arteries like Highway 395 and Interstate 80. It's situated just one mile from the Reno-Tahoe International Airport, providing unparalleled logistical advantages. The electrical service is 200 AMP, 3-phase, 208V power. Primarily warehouse suites are available. The property's APN is 034-342-01. Contact for details on individual suite availability and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,650,000
      ML approach
      $3,805,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $5,065,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $5,795,000
      Change: +14% Conversion: Difficult
      RETAIL STORES
      $4,705,000
      Change: -7% Conversion: Moderate
      OFFICE BUILDING
      $4,535,000
      Change: -10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,405,000
      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
    -119.747
    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
    $19,228
    $273,055
    $288,585
    $561,640
    -
    $780,156
    $824,529
    $1,604,685

    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
      $6,500,000
      21,120 SF

      240 Freeport Blvd

      INDUSTRIAL (GENERAL) • 21,120 SF
      240 Freeport Blvd, Sparks, NV 89431-6221
      View Details

    Similar Nearby for Sale

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      3.01 Acres

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    Similar Nearby for Lease

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      Sparks Industrial Space Available

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      8,600 SF industrial property available for rent.
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      Sparks Industrial Space Available

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      View Details
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    Sparks, NV 89431
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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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