518 Pyramid WaySparks, NV 89431

Property Details for 518 Pyramid Way

Year built

1927

Construction

WOOD

Lot size

0.16 AC

Property size (Sq ft)

3,238 SF

Zone code

MUD

Property type

Office buildings

APN

033-241-13

APU

3324113

Description

This exceptional owner-user investment opportunity presents a 3,238 square foot medical office building situated at 518 Pyramid Way in Sparks, Nevada. Built in 1927 and renovated in 1970, this two-story building sits on a lot identified by APN 033-241-13 and is zoned MUD. The asking price is $550,000, translating to $169.86 per square foot. The property features a well-established medical office space, complete with a built-in reception area, an open waiting room, three exam rooms, two restrooms, and a dedicated storage room. Adding to its investment appeal, the building also includes two apartments. One apartment is currently fully leased, providing immediate rental income. The vacant downstairs medical office space presents a significant opportunity for an owner-occupant or an investor seeking to lease to a medical professional. This mixed-use property offers a unique blend of income generation and potential for growth in a desirable Nevada location. The property's history and current configuration make it an attractive option for a variety of medical practices or investors seeking a stable, income-producing asset in the thriving Sparks market. Further details regarding the leased apartment are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $486,637

  6.5%

  $449,203

  7%

  $417,117

• Comparable approach

  Method

  Valuation

  Relative Method

  $741,470

  Geo Method

  $741,470

• Alternative Use

  Use

  Valuation

  Residential

  $557,012

  Hospitality

  $510,220

  Educational

  $424,497

  Medical

  $439,096

  Retail

  $660,329

Location Insight

City

Sparks

County

Washoe

State

Nevada

Latitude

39.5383

Longitude

-119.753

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].