Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    600 Main St Fernley, NV 89408

    • Commercial land
    • 27.90 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0888307
    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

    • Commercial land

    Property Details for 600 Main St

    Lot size
    27.90 lot acres
    Zone code
    MU
    Property type
    Commercial land
    APN
    021-071-03
    APU
    2107103

    Description

    This exceptional ±28.42-acre commercial land parcel in Fernley, Nevada (APN: 021-071-02 & 021-071-03), presents a rare opportunity for a large-scale mixed-use development. Fully entitled for a 276-unit garden-style apartment community and additional commercial space for office and retail uses, the property offers significant flexibility. Entitlements could be modified to increase the multifamily unit count to 340, reducing the commercial acreage as needed. Ideally situated off Interstate 80, the site benefits from proximity to major employment centers, including the Tahoe Reno Industrial Center (15 miles), the Nevada Commerce Center, and the Victory Logistics District. All utilities are on-site, and comprehensive development studies are complete, allowing for immediate construction commencement. The property's location within a rapidly expanding market, characterized by strong job growth and high demand for housing and commercial space, makes it an attractive investment. The current market conditions, coupled with the existing zoning and included 112 acre-feet of water rights, position this property for exceptional returns. The property can be developed as a whole or in phases, with multifamily and commercial parcels potentially sold separately. This presents a unique opportunity for investors and developers seeking a prime location in a thriving Nevada market. The asking price is $6,900,000.

    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
    Fernley
    County
    Lyon
    State
    Nevada
    Longitude
    -119.262
    Latitude
    39.6099
    CBSA code
    22280
    CBSA name
    FERGUS FALLS, MN 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
    2024
    $17,206
    $425,363
    $0.00
    $425,363
    -
    $1,215,324
    $0.00
    $1,215,324

    Comparable in this City

    • Value Estimation by Request
      18.69 Acres

      1645 Newlands E Dr

      VACANT COMMERCIAL LAND • 18.69 Acres
      1645 Newlands E Dr, Fernley, NV 89408-8948
      View Details
    • Value Estimation by Request
      0.31 Acres

      110 Shadow Ln

      VACANT COMMERCIAL LAND • 0.31 Acres
      110 Shadow Ln, Fernley, NV 89408-8747
      View Details
    • Value Estimation by Request
      1.00 Acre

      500 Truck Inn Waya

      VACANT COMMERCIAL LAND • 1.00 Acre
      500 Truck Inn Waya, Fernley, NV 89408-8700
      View Details
    • Value Estimation by Request
      0.64 Acres

      345 Us Hwy 95th S

      VACANT COMMERCIAL LAND • 0.64 Acres
      345 Us Hwy 95th S, Fernley, NV 89408-9012
      View Details
    • Value Estimation by Request
      1.32 Acres

      850 Us Hwy 95th S

      VACANT COMMERCIAL LAND • 1.32 Acres
      850 Us Hwy 95th S, Fernley, NV 89408-9643
      View Details
    • Value Estimation by Request
      85.05 Acres

      Fernley, NV 89408

      VACANT COMMERCIAL LAND • 85.05 Acres
      Fernley, NV 89408
      View Details

    Similar Nearby for Sale

    • $159,900
      0.46 Acres

      Commercial Land on Main Street

      Commercial land with C1 zoning in growing Fernley, Nevada.
      420 W Main St, Fernley, NV 89408
      View Details
    • $5,116,558
      8.39 Acres

      Prime Commercial Land in Fernley

      8.39 acres of C-2 land with highway frontage.
      Nevada Pacific Blvd, Fernley, NV 89408
      View Details
    • $320,000
      640.00 Acres

      640 Acres Near Fernley

      Large land parcel near Fernley Industrial Park, suitable for subdivision.
      80 Hwy, Fernley, NV 89408
      View Details
    • Contact for pricing
      18 SF

      Fernley Land Parcel For Sale

      18.90 acre land parcel with rail access near I-80.
      2185 Newlands Dr, Fernley, NV 89408
      View Details
    • $375,000
      3.45 Acres

      Prime Commercial Lot on Highway

      Highly visible commercial lot on Highway 95 in Fernley, Nevada.
      780 S Us Highway 95A, Hazen, NV 89408
      View Details
    • $89,000
      89.00 Acres

      89-Acre Parcel Near Industrial Park

      89-acre parcel near Fernley Industrial Park, may be subdivided.
      80 Hwy, Fernley, NV 89408
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,600 SF

      Fernley Shopping Center Development Opportunity

      Ground lease and build-to-suit options available in Fernley, Nevada.
      1600 E Newlands Dr, Fernley, NV 89408
      View Details
    • Contact for pricing
      7,000 SF

      New Shopping Center Development Available

      Ground lease and build-to-suit options in Fernley shopping center.
      Stanley Dr, Fernley, NV 89408
      View Details
    • Contact for pricing

      Land For Rent Fernley

      Land available for rent in Fernley, Nevada.
      1365 Chisholm Trl, Fernley, NV 89408
      View Details
    • $15 SF/Yr
      551 SF

      Fernley Office Space Available

      Office space available for lease in Fernley, Nevada.
      45 W Cedar St, Fernley, NV 89408
      View Details
    • Contact for pricing
      105,040 SF

      Fernley Warehouse Space Available

      Available warehouse space in Fernley, Nevada, totaling 105,040 square feet.
      Commerce Ctr Dr, Fernley, NV 89408
      View Details
    • $16 SF/Yr
      3,240 SF

      Fernley Flex/Industrial Space Available

      Flex/industrial space available for lease in Fernley, Nevada.
      868-890 Cottonwood Ln, Fernley, NV 89408
      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.
    600 Main St
    Fernley, NV 89408
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.