5265 Vis Blvd Sparks, NV 89436-0836

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.