1550 E College Pky - Office FOR SALE


Carson City, NV 89706
$10,200,000 USD
775-530-8842
1550 E College Pky, Carson City, NV for Sale
$10,200,000 USD
Office - FOR SALE
1/8
null | 7.01% Cap Rate

1550 E College Pky
Carson City, NV 89706


HIGHLIGHTS

  • Cap Rate 7%
  • New 84 month lease term commences September 1, 2024
  • Completely remodeled in 2024 with approximately $1.5M in upgrades
  • State of Nevada Department of Health & Human Services occupies 100% of the building

OVERVIEW

CBRE is pleased to present the rare opportunity to acquire a 100% leased office building in the Capital of Nevada, Carson City. The State of Nevada, Department of Health and Human Services has executed a new 7 year lease for the property, including a full renovation to the building interior. Tenant Improvements are currently underway consisting of all new LED Lighting, 45 additional offices, upgraded restrooms, new break room cabinetry (and appliances), new flooring, new paint, new window treatments, modernization of the fire/life safety systems, significant HVAC upgrades and more. The building includes two courtyards offering employees an outdoor break area. The State of Nevada, Department of Taxation previously occupied the building for approximately 30 years with little to no vacancy. The property is located on the corner of College Parkway and Research Way within close proximity to the US395/I580 Freeway and the Carson City Airport. The location provides quick and easy access to downtown capitol buildings and is easy to find. Mature landscaping surrounds the property in the professional managed office complex.

FOR SALE DETAILS

PRICE

$10,200,000 USD

PRICE/SF

$229 USD /SF

CAP RATE

7.01%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

193

LAND DETAILS

LAND ACRES

3.34 AC

LAND SF

145,490 SF

ZONING

LI

APN/PARCEL ID

008-124-14

ASK ABOUT THIS PROPERTY

Matt GrimesCBRE, Inc.More Info
775-530-8842

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Matt GrimesCBRE, Inc.More Info
775-530-8842

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.