400 Howerton HlTonopah, NV 89049

Property Details for 400 Howerton Hl

Year built

1994

Lot size

1.30 AC

Property size (Sq ft)

3,447 SF

Property type

Office properties

Description

This exceptional Class A, 3,447 sq ft office building in Tonopah, Nevada, presents a compelling investment opportunity. Built in 1994, the single-story structure sits on a 1.3-acre lot and features 10 parking spaces. Currently, a portion of the building is occupied by a government tenant under a net lease agreement (NN+), with a lease term expiring September 30, 2024. The property is divided into three units, with one unit (1359 sq ft) leased to the Nevada Division of Wildlife, while two additional units (1350 sq ft and 646 sq ft) are available for lease. The asking price is $499,000, representing a price per square foot of $144.76 and a price per unit of $166,333.33. The property's Net Operating Income (NOI) is $1,651, resulting in a 0.33% cap rate. The property's address is 400 Howerton Hill, Tonopah, NV 89049. The building's current occupancy is 50%, with the lease commencing October 1, 2019. This property offers a unique opportunity to acquire a well-constructed building in a desirable location with potential for increased rental income. The property features air rights of 3,447 sq ft. No rent bumps are included in the lease agreement. The property is owned by an LLC and the APN is 008-291-18.

Location Insight

City

Tonopah

County

Nye

State

Nevada

Latitude

38.0612

Longitude

-117.218

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