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255 Glendale Ave

28,490 SF 58% Leased Office Building Sparks, NV 89431 $5,500,000 ($193/SF)

Investment Highlights

  • 28,490 SF multi-tenant medical/office/lab property in the flex industrial submarket in Sparks, NV
  • Frontage on Glendale Avenue

Executive Summary

Sale Price Reduced. The property has a long history of stable 100% occupancy but will now be sold with 12,050 square feet of office/lab
space expected to go vacant in 2024. Concentra Health is the anchor tenant with 17 years of operating history on
the site and 7 years remaining on the existing lease. Juniper Services occupies approximately 5,400 square feet with
4 years remaining. Alpha Analytical plans to vacate 12,050 square feet of office and lab space in 2024. The property
provides an excellent opportunity for upside by bringing vacant office rents to market. Zoning on the property is
Industrial, providing flexibility to convert to flex industrial.

Property Facts

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
28,490 SF
Building Class
C
Year Built
1981
Price
$5,500,000
Price Per SF
$193
Percent Leased
58%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
28,490 SF
Building FAR
0.29
Land Acres
2.29 AC
Opportunity Zone
Yes
Zoning
I - All industrial

Amenities

  • Courtyard
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste 17-26
  • 1,200-12,050 SF
  • Office
  • Full Build-Out
  • Now

Garden office located in the sparks industrial/flex submarket. Variety of Sizes Available for Lease: 1,200 SF 2,200 SF 3,000 SF 5,600 SF 12,050 SF

Space Size Space Use Condition Available
1st Fl-Ste 17-26 1,200-12,050 SF Office Full Build-Out Now

1st Fl-Ste 17-26

Size
1,200-12,050 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl-Ste 17-26

Size 1,200-12,050 SF
Space Use Office
Condition Full Build-Out
Available Now

Garden office located in the sparks industrial/flex submarket. Variety of Sizes Available for Lease: 1,200 SF 2,200 SF 3,000 SF 5,600 SF 12,050 SF

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
034-342-16
Land Assessment
$401,502
Improvements Assessment
$709,829
Total Assessment
$1,111,330
  • Listing ID: 30295698

  • Date on Market: 12/6/2023

  • Last Updated:

  • Address: 255 Glendale Ave, Sparks, NV 89431

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