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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    889 Alder Ave Incline Village, NV 89451

    • Medical offices
    • 16,350 SF
    • 0.75 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Last Sale
    Mar 08, 2021
    $4,750,000
    Value Estimations
    $4,910,000
    Cap Rate Potential
    4.3%
    Medical offices
    Location Intelligence
    Property ID
    US62-0319960
    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

    • Tahoe Spine & Pain Care: Finnoff Jonathan DO / Pain Control Clinic
    • Pamela Skeie Mft / Marriage Or Relationship Counselor / Family Counselor
    • Transcendence Massage & Bodywork / Massage Therapist
    • Advanced Dermatology & Cosmetic Surgery / Cosmetics Store / Dermatologist
    • Incline Medical / Medical Clinic / Physician Assistant

    Property Details for 889 Alder Ave

    Year built
    1983
    Construction
    WOOD
    Lot size
    0.75 lot acres
    Property size
    16,350 SF
    Zone code
    TA_IVC
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    132-020-09
    APU
    13202009

    Description

    Discover a hidden gem in Incline Village, Nevada, at 889 Alder Ave (Alder Ave/Village Blvd cross streets), a three-story, 21,789 square foot office building situated on 0.75 acres in Washoe County (zip code 89451). This 1989-built property offers multiple suite options totaling 11,104 square feet of vacant space across 22 suites. The building features two elevators and ample parking with 42 spaces, including a private lot and parking garage. The property is conveniently located across from Tahoe Forest Hospital and near numerous restaurants. It's zoned GC and offers a variety of office subtypes including medical, executive, creative, and traditional spaces. A Gross Modified lease is available, with a 2023 Common Area Maintenance (CAM) fee of $0.27 per square foot per month, encompassing water, sewer, garbage, common area janitorial services, gas, electricity, WiFi in executive suites, and snow removal. This all-inclusive fee provides a hassle-free and well-maintained work environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,990,000
      ML approach
      $5,155,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,540,000
      6.5%
      $3,265,000
      7%
      $3,035,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,603,000
      Market price range: $4.28M - $7.59M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $5,720,000
      Current use
      COMMERCIAL (GENERAL)
      $7,395,000
      Change: +29% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $7,050,000
      Change: +23% Conversion: Difficult
      RESTAURANT
      $6,840,000
      Change: +20% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $5,395,000
      Change: -6% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $5,185,000
      Change: -9% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,105,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Incline Village
    County
    Washoe
    State
    Nevada
    Longitude
    -119.954
    Latitude
    39.2506
    CBSA code
    39900
    CBSA name
    RENO-SPARKS, NV METROPOLITAN 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
    2023
    $39,614
    $246,456
    $877,061
    $1,123,517
    -
    $704,160
    $2,505,889
    $3,210,049

    Comparable in this City

    • Value Estimation
      $1,645,000
      1,868 SF

      231 Vlg Blvd

      MEDICAL BUILDING • 1,868 SF
      231 Vlg Blvd, Incline Village, NV 89451-9415
      View Details
    • Value Estimation
      $1,075,000
      7,920 SF

      770 Northwood Blvd

      MEDICAL BUILDING • 7,920 SF
      770 Northwood Blvd, Incline Village, NV 89451-8284
      View Details
    • Value Estimation
      $2,690,000
      20,184 SF

      760 Mays Blvd

      MEDICAL BUILDING • 20,184 SF
      760 Mays Blvd, Incline Village, NV 89451-9668
      View Details
    • Value Estimation
      $4,640,000
      30,076 SF

      880 Alder Ave

      HOSPITAL - PRIVATE • 30,076 SF
      880 Alder Ave, Incline Village, NV 89451-8215
      View Details
    • Value Estimation
      $1,835,000
      3,480 SF

      850 Tanager St

      OFFICE BUILDING • 3,480 SF
      850 Tanager St, Incline Village, NV 89451-9433
      View Details
    • Value Estimation by Request
      1,143 SF

      924 Incline Way

      OFFICE BUILDING • 1,143 SF
      924 Incline Way, Incline Village, NV 89451-9734
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      42,048 SF

      Incline Village Commercial Space Available

      Versatile spaces for office, retail, medical, and storage uses.
      865 Tahoe Blvd, Incline Village, NV 89451
      View Details
    • $5,265,000

      Incline Village Office Building

      Office building for sale in Incline Village, Nevada.
      333 Village Blvd, Incline Village, NV 89451
      View Details
    • $2,799,000
      9,660 SF

      Incline Village Live-Work Development Opportunity

      2.165 acre commercial land with multi-family building potential.
      Incline Village, NV 89451
      View Details
    • $675,000

      Furnished Condo Near Tahoe Beaches

      3-bedroom condo with Incline Village privileges, close to amenities.
      807 Alder Ave, Incline Village, NV 89451
      View Details
    • $2,150,000
      1,944 SF

      Golf Course View Home

      Freestanding home with golf course views and IVGID passes.
      948 Northwood Blvd, Incline Village, NV 89451
      View Details
    • $2,549,000
      6,074 SF

      Incline Village Multifamily Investment Opportunity

      Rare renovated 6-unit apartment building near Lake Tahoe.
      866 Southwood Blvd, Incline Village, NV 89451
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      21,789 SF

      Alpine Business Center: Incline Village Office Space

      Prime Incline Village office suites available.
      889 Alder Ave, Incline Village, NV 89451
      View Details
    • $5,000 /Mo
      1,593 SF

      Remodeled Office Space in Incline

      Versatile remodeled two-story office space with abundant natural light.
      924 Incline Way, Incline Village, NV 89451
      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.
    889 Alder Ave
    Incline Village, NV 89451
    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.