910 Glendale Ave Sparks, NV 89431
- Retail space
- 4,720 SF
- 1.59 lot acres
Current Use by Public Records
- Bunnell Muay Thai / Muay Thai Boxing Gym
- DRC Construction / Construction Company
- DRC Landscaping / Landscape Designer / Landscape Architect
Property Details for 910 Glendale Ave
- Year built
- 1968
- Construction
- METAL FRAME
- Lot size
- 1.59 lot acres
- Property size
- 4,720 SF
- Zone code
- I
- Property type
- Retail space
- APN
- 032-302-08
- APU
- 3230208
Description
This exceptional 22,968 square foot industrial complex, located at 910 Glendale Ave in Sparks, Nevada (89431), presents a compelling investment opportunity. The property boasts two buildings totaling 22,968 square feet of net rentable space, currently 50% occupied by two tenants with month-to-month leases, generating a current annual income of $14,000. Building A features a newly renovated 4,800 square foot showroom and office space, along with a 6,000 square foot industrial metal building containing three 2,000 square foot units with 12x14 roll-up doors and 24-foot ceilings. Building B comprises four units of varying sizes, all equipped with roll-up doors and bathrooms. Recent renovations (2022) include new stucco, paint, roofing, and interior/exterior upgrades to Building A, including high-end windows, lighting, and Mitsubishi HVAC units. The property sits on a 1.59-acre lot and includes a 15,600 square foot parking lot with ample space for truck turnaround, a fenced 26,000 square foot yard, and 16 parking spaces. The property is zoned I and offers significant potential for increased income through mini-storage development or additional leasing. The asking price is $4,900,000, representing a 3.12% cap rate and a NOI of $153,000. Seller financing is available. This property is ideal for owner-users or investors seeking high-demand small industrial spaces in a prime Sparks location. The property was built in 1968 and has nine units.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,485,000
- ML approach
- $1,405,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,820,000
- 6.5%
- $1,680,000
- 7%
- $1,560,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,014,000
- AI Estimate
- $902,000
Market price range: $368k - $2.01MMarket price range: $204k - $903k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,265,000 Current use
- MEDICAL BUILDING
- $1,650,000 Change: +31% Conversion: Difficult
- OFFICE BUILDING
- $1,220,000 Change: -4% Conversion: Easy
- COMMERCIAL (GENERAL)
- $1,185,000 Change: -6% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,100,000 Change: -13% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Sparks
- County
- Washoe
- State
- Nevada
- Longitude
- -119.754
- Latitude
- 39.5283
- CBSA code
- 39900
- CBSA name
- RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
