610 Waltham Way Sparks, NV 89434
- Office buildings
- 25,370 SF
- 2.40 lot acres
Current Use by Public Records
- FedEx Drop Box / Mailing Service
- Blockchains / Software Company
Property Details for 610 Waltham Way
- Year built
- 2005
- Construction
- CONCRETE
- Lot size
- 2.40 lot acres
- Property size
- 25,370 SF
- Zone code
- I-2
- Property type
- Office buildings
- APN
- 005-021-34
- APU
- 502134
Description
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.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $6,385,000
- 6.5%
- $5,890,000
- 7%
- $5,470,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $6,944,000
- AI Estimate
- $3,383,000
Market price range: $4.60M - $10.7MMarket price range: $1.20M - $5.51M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $7,030,000 Current use
- COMMERCIAL (GENERAL)
- $8,780,000 Change: +25% Conversion: Easy
- RETAIL STORES
- $7,715,000 Change: +10% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $5,655,000 Change: -20% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Sparks
- County
- Storey
- State
- Nevada
- Longitude
- -119.551
- Latitude
- 39.5535
- CBSA code
- 39900
- CBSA name
- RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA