5265 Vis Blvd Sparks, NV 89436-0836
Property profile & analytics
5265 Vis Blvd, Sparks, NV 89436-0836
- Medical Office Space
- 10,467 SF
- 0.95 lot acres
Property ID
US62-0355202
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
- Ellie Black / Physician
- Jennifer Unruh, APRN / Registered General Nurse
- Abigail Connell, PA-C / Physician
- Ryan Bristol, APRN / Physician
- Dr. Letitia Anderson / Physician
Property Details for 5265 Vis Blvd
- Year built
- 1999
- Construction
- WOOD
- Lot size
- 0.95 lot acres
- Zone code
- PD
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 516-060-13
- APU
- 51606013
Description
This exceptional investment opportunity presents a 10,467-square-foot medical office building in Sparks, Nevada, boasting a 5.75% cap rate. The property, situated on 0.95 acres at 5265 Vista Blvd, 89436, is currently 100% occupied by two tenants under a double net lease (NN) with a remaining term of 4.7 years, commencing May 1, 2019, and expiring July 31, 2029. The lease includes two 5-year options and features attractive 2% annual rent increases. The primary tenant, Northern Nevada Medical Group (a subsidiary of Fortune 500 company Universal Health Services Inc.), has invested over $1 million in improvements, demonstrating a strong commitment to the location. The property also benefits from additional income generated by an on-site Bank of America ATM, operational since 1999. Recent capital expenditures include a parking lot replacement in June 2024 and a roof replacement in 2019 with a 10-year warranty and an option for an additional 10-year re-coating. Built in 1999 and renovated in 2019, the building is zoned PD. The strong demographics of the area, with a 5-mile population exceeding 145,000 and an average household income of $103,000 within a 1-mile radius, further enhance the investment potential. Sparks, located in the Reno MSA, is a rapidly growing city in Nevada, a state with no income tax. A 4.15% assumable debt is in place. The asking price is $3,144,000, with a net operating income (NOI) of $180,793.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,775,000
- ML approach
- $1,555,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,540,000
- 6.5%
- $2,345,000
- 7%
- $2,180,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,859,000
Market price range: $2.74M - $4.86M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $3,660,000 Current use
- COMMERCIAL (GENERAL)
- $3,620,000 Change: -1% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $3,455,000 Change: -6% Conversion: Moderate
- RETAIL STORES
- $3,185,000 Change: -13% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Sparks
- County
- Washoe
- State
- Nevada
- Longitude
- -119.716
- Latitude
- 39.5873
- 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
$15,645
$122,594
$432,679
$555,273
-
$350,268
$1,236,225
$1,586,493
