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

    551 Main St Elko, NV 89801-2966

    • Commercial real estate
    • 5,000 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0570666
    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

    • C H Spencer & Co / Industrial Equipment Supplier / Entertainment And Recreation

    Property Details for 551 Main St

    Year built
    1979
    Construction
    CONCRETE BLOCKS
    Lot size
    0.34 lot acres
    Property size
    5,000 SF
    Zone code
    ZLI
    Property type
    Commercial real estate
    APN
    001-321-003
    APU
    1321003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elko
    County
    Elko
    State
    Nevada
    Longitude
    -115.771
    Latitude
    40.8269
    CBSA code
    21220
    CBSA name
    ELKO, NV MICROPOLITAN 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
    $2,004
    $13,130
    $41,565
    $54,695
    -
    $37,514
    $118,757
    $156,271

    Comparable in this City

    • Value Estimation by Request
      53.15 Acres

      8700 Idaho St

      COMMERCIAL (GENERAL) • 53.15 Acres
      8700 Idaho St, Elko, NV 89801
      View Details
    • Value Estimation by Request
      0.03 Acres

      1250 Lamoille Hwy, Unit 836

      COMMERCIAL (GENERAL) • 0.03 Acres
      1250 Lamoille Hwy, Elko, NV 89801-4396
      View Details
    • Value Estimation by Request
      220 SF

      1400 Sewell Dr

      COMMERCIAL (GENERAL) • 220 SF
      1400 Sewell Dr, Elko, NV 89801-2828
      View Details
    • Value Estimation by Request
      3,775 SF

      237 Silver St

      COMMERCIAL (GENERAL) • 3,775 SF
      237 Silver St, Elko, NV 89801
      View Details
    • Value Estimation by Request
      600 SF

      6547 Idaho St

      COMMERCIAL (GENERAL) • 600 SF
      6547 Idaho St, Elko, NV 89801
      View Details
    • Value Estimation by Request
      240 SF

      1150 Lamoille Hwy

      COMMERCIAL (GENERAL) • 240 SF
      1150 Lamoille Hwy, Elko, NV 89801-4357
      View Details

    Similar Nearby for Sale

    • $640,000
      7,289 SF

      Elko, NV Warehouse - $640,000

      7,289 SF Warehouse, Commercial Property
      351 Silver St, Elko, NV 89801
      View Details
    • $900,000
      5,000 SF

      Elko Commercial Building - Prime Location

      Versatile 5,000 sq ft commercial space, great income potential.
      1750 Manzanita Ln, Elko, NV 89801
      View Details
    • $665,000
      5.74 Acres

      Elko Commercial Land: 5.74 Acres

      Prime Elko commercial land, I/C zoning underway.
      3250 Ruby Vista Dr, Elko, NV 89801
      View Details
    • $1,700,000
      11,433 SF

      Downtown Elko Commercial Gem

      High-traffic location, three tenants, versatile space.
      118 2Nd St, Elko, NV 89801
      View Details
    • $990,000
      5,869 SF

      Elko Commercial Building - Great Location

      Spacious commercial building, prime Elko location.
      2640 Ruby Vista Dr, Elko, NV 89801
      View Details
    • $900,000
      5,388 SF

      Elko Industrial Warehouse - $900K

      5,388 SF Warehouse, Nevada - Great Location
      2003 Errecart Blvd, Elko, NV 89801
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      19,180 SF

      Elko Industrial Building For Lease

      19,180 SF industrial building on 2.12 acres for lease.
      1345 Water St, Elko, NV 89801
      View Details
    • Contact for pricing
      4,655 SF

      Elko Commercial Warehouse and Office

      Functional warehouse and office space in Elko's commercial corridor.
      1070 Silver St, Elko, NV 89801
      View Details
    • Contact for pricing
      1,700 SF

      Elko Retail Space Available

      Commercial space for lease on Idaho Street in Elko, Nevada.
      174 Idaho St, Elko, NV 89801
      View Details
    • $4,000 /Mo

      New Industrial Buildings For Lease

      New industrial buildings with flexible suites available for lease.
      177 Walters Ct S, Elko, NV 89801
      View Details
    • Contact for pricing
      3,132 SF

      Elko Warehouse/Industrial Space Available

      3,132 SF warehouse/industrial space available for lease in Elko, NV.
      177 Walters Ct, Elko, NV 89801
      View Details
    • $1,350 /Mo
      582 SF

      Elko Office Suite For Lease

      Prime Elko office suite with utilities and maintenance included.
      225 Silver St, Elko, NV 89801
      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.
    551 Main St
    Elko, NV 89801-2966
    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.