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1550 E College Pky

44,456 SF Office Building Carson City, NV 89706 $10,200,000 ($229/SF) 7.01% Cap Rate

Investment Highlights

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

Executive Summary

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.

Data Room Click Here to Access

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
44,456 SF
Building Class
B
Year Built
1994
Price
$10,200,000
Price Per SF
$229
Cap Rate
7.01%
NOI
$714,675
Tenancy
Single
Building Height
1 Story
Typical Floor Size
44,456 SF
Building FAR
0.31
Land Acres
3.34 AC
Zoning
LI
Parking
193 Spaces (4.34 Spaces per 1,000 SF Leased)
Bike Score ®
Very Bikeable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
  • Listing ID: 32016858

  • Date on Market: 6/4/2024

  • Last Updated:

  • Address: 1550 E College Pky, Carson City, NV 89706

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