Add Listing
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

    645 Romeo Way Elko, NV 89801-4648

    • Warehouses
    • 7,686 SF
    • 0.35 lot acres
    OFF-MARKET
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    4.5%
    Warehouses
    Location Intelligence
    Property ID
    US62-0917753
    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

    • Coastline Equipment / (Bike/Boat/Book/etc) Store / Rental Equipment Company

    Property Details for 645 Romeo Way

    Year built
    1997
    Lot size
    0.35 lot acres
    Property size
    7,686 SF
    Zone code
    ZLI
    Property type
    Warehouses
    APN
    001-860-0AZ
    APU
    0018600AZ

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $737,000
      Market price range: $284k - $738k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $990,000
      Current use
      COMMERCIAL (GENERAL)
      $1,000,000
      Change: +1% Conversion: Difficult
      RETAIL STORES
      $935,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Elko
    County
    Elko
    State
    Nevada
    Longitude
    -115.724
    Latitude
    40.8697
    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
    2024
    $17,512
    $82,586
    $395,838
    $478,424
    -
    $235,960
    $1,130,966
    $1,366,926

    Comparable in this City

    • Value Estimation by Request
      1,440 SF

      1115 Main St

      WAREHOUSE, STORAGE • 1,440 SF
      1115 Main St, Elko, NV 89801
      View Details
    • Value Estimation
      $755,000
      7,272 SF

      2952 Mtn City Hwy

      MINI-WAREHOUSE, STORAGE • 7,272 SF
      2952 Mtn City Hwy, Elko, NV 89801
      View Details
    • Value Estimation
      $1,085,000
      12,412 SF

      2100 Ruby Vw Dr

      WAREHOUSE, STORAGE • 12,412 SF
      2100 Ruby Vw Dr, Elko, NV 89801-2697
      View Details
    • Value Estimation by Request
      6,400 SF

      2255 Last Chance Rd

      WAREHOUSE, STORAGE • 6,400 SF
      2255 Last Chance Rd, Elko, NV 89801-5104
      View Details
    • Value Estimation by Request
      3,200 SF

      5370 Idaho St

      WAREHOUSE, STORAGE • 3,200 SF
      5370 Idaho St, Elko, NV 89801-4678
      View Details
    • Value Estimation
      $705,000
      7,462 SF

      4260 Idaho St

      WAREHOUSE, STORAGE • 7,462 SF
      4260 Idaho St, Elko, NV 89801-4695
      View Details

    Similar Nearby for Sale

    • $900,000
      5,388 SF

      Elko Industrial Warehouse - $900K

      5,388 SF Warehouse, Nevada - Great Location
      2003 Errecart Blvd, Elko, NV 89801
      View Details
    • $640,000
      7,289 SF

      Elko, NV Warehouse - $640,000

      7,289 SF Warehouse, Commercial Property
      351 Silver St, Elko, NV 89801
      View Details
    • $1,295,000

      Elko County Industrial Building

      Versatile industrial building with city utilities and income potential.
      2155 Last Chance Rd, Elko, NV 89801
      View Details
    • Contact for pricing
      2.27 Acres

      Nevada High Desert Land Parcel

      2.27 acres of land with views near Ryndon Exit.
      7270 Adams Ave, Elko, NV 89801
      View Details
    • Contact for pricing
      2.27 Acres

      Ryndon, NV Land For Sale

      2.27 acres in Ryndon, Nevada with 360 degree views.
      36N Rge 56E, Elko, NV 89801
      View Details
    • Contact for pricing
      2.07 Acres

      Land in Elko, Nevada

      Land available in Elko, Nevada, ideal for building or recreation.
      5Th St, Elko, NV 89801
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,132 SF

      New Development Warehouse Space Available

      7,132 SF warehouse space for lease in Elko, NV.
      177 Walters Ct, 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
      3,408 SF

      Elko Warehouse with Overhead Cranes

      Well-equipped warehouse with cranes, air compressor, and ample power.
      240 7Th St, Elko, NV 89801
      View Details
    • Contact for pricing
      2,400 SF

      Elko Warehouse with Alley Access

      2400 SF warehouse with pull-through access in Elko, NV.
      729 Douglas St, Elko, NV 89801
      View Details
    • Contact for pricing
      7,600 SF

      Elko Industrial Building For Lease

      Flexible industrial space with roll-up doors and ample parking.
      2310 Last Chance Rd, Elko, NV 89801
      View Details
    • Contact for pricing
      3,312 SF

      Elko Warehouse Space Available

      3,312 sq ft warehouse space for lease in Elko.
      653 River 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.
    645 Romeo Way
    Elko, NV 89801-4648
    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.
    Sign Up Successful!
    You now have access to more from Realmo!