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421 Court St 421 Court St 5,012 SF 100% Leased Office Building Elko, NV 89801 $1,320,000 ($263.37/SF) 8% Cap Rate
Executive Summary
Originally constructed in 1900, per county records, and thoughtfully renovated, 421 Court Street is a solid investment opportunity in the heart of downtown Elko. The property comes with a 5-year lease in place with options to extend - making it a true turnkey income producer from day one.The listing includes four parcels: the main office building, a landscaped yard, a hillside parcel, and a storage building for equipment or operational use. The main building has been well-maintained and updated while keeping its historic character intact. Located on Court Street in downtown Elko - the county seat and commercial hub of one of Nevada's busiest mining and ranching regions - the property offers strong visibility and a stable tenant base. If you're looking for a dependable income property with real bones in a working Nevada town, 421 Court Street is worth a serious look. This is an 8% cap rate for the leased spaces and $70,000 were given towards the 2 additional parcels.
Property Facts Under Contract
Sale Type
Investment
Property Type
Office
Property Subtype
Office
Building Size
5,012 SF
Building Class
C
Year Built
1900
Price
$1,320,000
Price Per SF
$263.37
Cap Rate
8%
NOI
$105,600
Percent Leased
100%
Building Height
2 Stories
Typical Floor Size
2,506 SF
Building FAR
0.67
Lot Size
0.17 AC
Zoning
ZC
Amenities
- Storage Space
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 001-225-014 | Improvements Assessment | $92,536 |
| Land Assessment | $21,000 | Total Assessment | $113,536 |
Property Taxes
Parcel Number
001-225-014
Land Assessment
$21,000
Improvements Assessment
$92,536
Total Assessment
$113,536
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421 Court St | 421 Court St