Entity Owned 
For Lease
1 / 36
$805,000
610 Waltham Way, Sparks, NV 89437
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Property summary
AI-generated overview
This exceptional investment opportunity presents a 25,370-square-foot Class A office building situated on two adjoining parcels totaling nearly 5 acres in the prestigious Tahoe-Reno Industrial Center in Sparks, Nevada. The property, built in 2005 by Devcon Construction, features a modern design with high-end finishes, including a climate-controlled IT room, cafeteria-style break room with patios and BBQ areas, and a generous garage/shop space. The single-tenant building boasts ample parking, with a 7:1,000 square foot ratio, and enjoys excellent freeway visibility to Interstate 80. The property includes a recently renovated 25,370 square foot building on a 2.4-acre parcel (610 Waltham Way) and a 2.6-acre undeveloped parcel (620 Waltham Way), zoned I-2. The asking price is $10,000,000, representing a price per square foot of $394.17. High-end security features are integrated throughout the building's design. This is a rare opportunity to acquire a vacant, high-quality office complex in a rapidly growing area. The property is currently vacant, offering immediate occupancy for a new owner.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2005
Construction
CONCRETE
Total area
25,370 SF
Lot
2.4 ac (104,544 SF)
Zoning code
I-2
APN
005-021-34
UPID
US62-1288794
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Postal Service Courier Service
-
(Bike/Boat/Book/etc) Store Corporate Office
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.89M
Comparable Approach
Comparable
$6.94M
Blend (final)
Blend
$805k
Owner & transaction history
since 2018
5 recorded transactions
Zoning & alternative use
I-2 · Sparks, NV
Top alternative use upside
Commercial (general)
$8.8M
+24.9%
Retail stores
$7.7M
+9.8%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$805k
Value range
$725k – $886k
±10% around blend
Estimated value / SF
$32 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$725k
blend $805k
$886k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
25,370 SF
Lot area
2.4 ac
Year built
2005
Stories
1
APN
005-021-34
Zoning
I-2
Assessed value
$1,365,652
Annual tax
$41,670
3
Income approach: direct capitalization
Partial preview
Income approach indication
$5.89M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$6.39M
@ 6.5% CAP return
$5.89M
@ 7% CAP return
$5.47M
4
Sales comparison
Partial preview
Sales approach indication
$6.94M
Range $4.60M – $10.73M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$805k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 56 sales
$277
-89%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $32/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+25%
vs current-use indication
Retail Stores
Office Building · current use
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.37M
Move the market yield to see immediate price impact.
Value / SF
$54
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$86k
$1.72M
$1.23M
$956k
$96k
$1.91M
$1.37M
$1.06M
$105k
$2.10M
$1.50M
$1.17M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$41,670
Tax year 2023
Assessed value
$1,365,652
Assessed 2023
Previous assessed
$1,365,652
+0.0% YoY
Effective rate
3.05%
On assessed value
Assessed land
$84,158
Assessed improvement
$1,281,494
Land market value
$240,451
Improvement market value
$3,661,411
Total market value
$3,901,862
Applied tax rate
122.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
2005
Construction
CONCRETE
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
25,370 SF
Lot
2.4 ac (104,544 SF)
Zoning code
I-2
APN
005-021-34
UPID
US62-1288794
Jurisdiction
STOREY
Zoning & alternative use
I-2 · Sparks, NVZoning I-2 · permitted uses
I-2 · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
2.4 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
I-2
Jurisdiction
Sparks, NV
Recorded code
I-2
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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