The subject property consists of a situated on a 0.37 acre lot in Yerington, Nevada. The property is located at the intersection of West Goldfield Avenue (Highway 95) and West Street, and has very high visibility with excellent ingress & egress from both roads. The .373 Acre parcel features two contiguous buildings that total 8,390 SF, a small rear loading area, and asphalt parking area in front of the building. The first building is a 4,650 SF corner office/retail building constructed in 1990 and anchored by long term tenant State of Nevada Division of Child Welfare Services and approximately 2,300 SF vacant office available in the adjacent suite next door. The 2nd building was originally built in 1983 and the 3,740 SF inline office/retail building currently has 3 tenants with rear warehouse access, and one (1) small rollup door.
This Multi-tenant investment property in Yerington has a long term stable State of Nevada tenant, namely the Child Welfare Services (CWS) with several years left on lease. Currently performing near a 7% Cap with 2300SF vacancy, it has the potential to be a 10% Cap or more if fully leased. The current Monthly rental income is $6,097 currently (Annual income is $73,164 with Annual Expenses at $13,133) giving the property a current NOI of $60,031.
Yerington, Nevada, is the county seat of Lyon County, centrally located at the intersection of US 95A and Nevada State Route 208, approximately 70 miles southeast of Reno. Home to the fourth-largest copper deposit in North America, just outside the city, Yerington is seeing increasing production activity from companies like Nevada Copper. Agriculture also plays a significant role in the local economy, supported by a variety of related businesses.
The subject property is strategically positioned in the area's primary retail corridor, along the busiest road in Yerington. National retailers such as Raley’s, McDonald's, Round Table Pizza, H&R Block, Maverik, and O'Reilly Auto Parts are all within a quarter mile of the property.
Priced at $875,000, this property offers a purchaser an established cash flow revenue stream with near-term value-add opportunities to improve returns.
Investment Highlights
Monthly Rental Income: $6,097
Annual Rental Income: $73,164
Annual Expenses: $13,133
Annual NOI: $60,031
Current CAP Rate: 6.86%
Potential Rental Income: $101,040
Potential Annual NOI: $87,907
Potential Cap Rate: 10+%
Taxes: $4,133
Insurance: $4,000
Operating Expenses: $5,000
Total Tenant Suites: 5
Growth Opportunity: Current rates are significantly below market value
Located Along the Most Heavily Traveled Section of Road in Yerington
Growth Opportunity: Rates Below Market
Metal and Brick Construction