865 Deming Way Sparks, NV 89431-6403

Property Details for 865 Deming Way

Year built

1978

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.11 lot acres

Property size

23,870 SF

Zone code

I

Property type

Warehouses

APN

034-262-23

APU

3426223

Description

This exceptional investment opportunity presents a fully occupied, multi-tenant industrial warehouse totaling 23,845 square feet, situated on a 1.06-acre lot in Sparks, Nevada. The property, located at 865-871 Deming Way, boasts a prime location within the Sparks Industrial submarket, surrounded by over 500 businesses and a substantial daytime population exceeding 9,500. Built in 1978 and extensively renovated in 2023, the property features a new roof, resurfaced and restriped parking lot, fresh interior and exterior paint, and complete tenant improvements. The single-story building offers convenient access with three drive-in doors and one dock-high door. Currently leased to two tenants under NNN leases with a remaining term of 4.2 years, the leases include 4% annual rent bumps, ensuring consistent income growth. The property's zoning is I (Industrial), and the asking price is $4,888,225, translating to $205 per square foot and $2,444,112.50 per unit. The low vacancy rate in this submarket, averaging 2.68% over the past year, underscores the strong demand for industrial space in this area. This property presents a compelling investment opportunity, offering a stable income stream and significant potential for future appreciation. The 20-foot ceiling height adds to the functionality and appeal of this well-maintained and strategically located warehouse.

Location Insight

City

Sparks

County

Washoe

State

Nevada

Longitude

-119.723

Latitude

39.5257

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments