55 Calle De La Plata,
Sparks, NV, 89441
Sky West is pleased to present this C-Store development site which currently is being negotiated as a build to suit master lease with option to purchase opportunity.
Permits were approved and pulled in 2006. They come with the purchase of
the property and need to be updated but available upon request
The Sky West team has been working for the past 11 months with the Seller to find a buyer or investor partner to acquire 2.79 acres of land located in Sparks, Nevada. Sky West will assist and manage the development for the project and partnership.
55 Calle is two parcels totaling 2.79 acres located in the hottest development section of Pyramid Hwy, known as Spanish Springs in Sparks, Nevada. The property is set up for a 1.79 acre CStore gas station with drive thru car wash (Tunnel) and 3,600 sq. feet of retail shop space which can be used for 1 to 3 food uses (1,200 up to one sit down 3,600 sq ft restaurant). The remaining 1.0 acre site is geared for destination retail and gaming.
The site was originally permitted in 2007 and work started with permits pulled in 2008 to
become a Terrible Hurbst C-Store site. The company filed for Ch 11 and the site was sold
approximately 3 years ago.
The Spanish Springs area of Sparks is one of the upper end areas in Reno/Sparks and the area is filled with shopping, golf courses, schools, hospitals, churches and all of the amenities that make a neighborhood special. The area is rapidly becoming the main focus of working people and is close to all of the outdoor activities that make Reno/Sparks special. Tremendous views of the Sierra Nevada Mountains, a major University, a great airport, mild climate, skiing, water skiing and the great outdoors makes this one of the most beautiful and livable areas in the U.S.
Reno/Sparks – Overview:
The Reno metropolitan area has been discovered and is booming. It is rapidly becoming a
Mecca for business and activity all over the country. Golfing, hiking, water skiing, fishing and World Class snow skiing are moments away from this project. The freeway and the major airport in Reno are literally a few minutes’ drive from anywhere in the valley. One can be sitting on the shore of beautiful Lake Tahoe for lunch in a matter of 30 minutes be on their plane. RENO is set up for what we have termed ‘A BLACK SWAN” which is a very unique event that comes around once in a lifetime.
Reno / Sparks need to build 6,000 homes a year in N NV and we are currently building 2,000.
Reno / Sparks is currently #4 in the Nation for Population growth according to RGJ.
Reno / Sparks is #2 in the Nation for people moving to a new area according to Reno Gazette Journal,
which is a subsidiary of the Chicago Tribune.
Reno / Sparks is in the TOP 10 for 1st Time home buyers according to Money Source.
Reno / Sparks is #9 in the Nation 100 best places to live according to Livability.com.
Reno / Sparks is #5 in the Nation TOP SPOTS to Vacation according to The Weather Channel.
Tahoe / #1 Lake in America according to USA Today.
55 Calle OM – A C-Store Development
-Reno is TOP 10 Ski Towns in World according to National Geographic.
-We have seen Land appreciate 40% in the last 18 months.
-Retail & Office properties in the great Reno area are under 9% vacancy, Industrial is under 4% vacancy and
apartment vacancy is under 2.5%.
-Harrah’s Ranch – Purchase 137 acres to master plan into homes. Sold to master planner who is sub dividing out to sell builder packages. Purchased for $42M.
-500 Lots purchased in Verdi NV for development and home building. Last remaining commercial and residential lots on West side of Reno.
-107,000 acre Storey County, which is the largest Industrial Park in the world. Being developed by my buddy, setting RENO on the world stage with Tesla & Switch.
-25 to 30 corporations have committed to our region over the past 5 years, averaging 25 30 companies per year.
-Current economic counsels cannot handle the calls and people moving here.
Sky West has been very active with the business development managers who cannot handle the overwhelming demand from clients. As locals with the local contacts, we are here to assist those who need our help to build buildings and companies moving into town. We are strategically positioned for the growth that is coming. We sit on City Council boards and committees and are very active since 2004 in the community when we were developing our projects.
This property has approximately 385± feet of frontage along Calle De La Plata and
approximately 400± feet along Pyramid Hwy with direct visibility to over 7,000 cars per day.
LAND SIZE: 2.79 Acres (121,532.4)
SALE PRICE: $750,000 + $100,000 in entitlement costs
AREA DESCRIPTION: The parcel is zoned light industrial with a special use retail overlay. Users
for the site are Gas Station, Retail, Convenience, Auto, Auto Repair, Tire, Car wash, Truck wash,
Auto Sales, RV Sales, Storage, Destination retail and other auto services and sales, RV Sales. The
location is move in ready for these uses as homes are going in and selling and services are needed.
Our partnership and this property will capitalize on the market timing and expansion taking place in
this Pyramid Highway corridor.
This is a unique opportunity to participate in the development of a highly visible property with
easy access on and off the Pyramid Hwy in Northern Nevada. Settled at the cross street of Calle
de la Plata and Pyramid Hwy, it provides clients, tenants and users of the site an incredible
access to new homeowners moving into the region. This project is in high demand and will
showcase the need to support the re-emerging small business owner and operator that is the
backbone to re-igniting the region’s growth. Currently there is an under supply of the inventory
55 Calle OM – A C-Store Development
INVESTMENT – PHASE ONE – We are seeking an Investor/Partner for this project and can
guarantee a superior preferred return, profit and split from the investment.
Sky West team is in due diligence for the property. The highest and best use is Retail & C-Store
Gas convenience with food service to accommodate the high demand and new homes and
families settling into the area. The commercial buildings around this site will only add greater
support to this property and use.
Phase One is expected to take approximately 4 – 6 months from JV partnership and Developer
contracts being executed and the land acquired.
INVESTMENT – PHASE TWO – Sky West will manage all aspects of the project including but not limited to:
2. Legal & entity formation
3. Operating agreement
4. Investor and partnership agreement & relations
5. Brokerage & pre-leasing
6. Financing (Debt & Equity)
7. Construction loan
8. Construction & construction management – GC and build out of the site for horizontal
(land) & vertical (building) construction which includes the grading, on and off-site
utilities, set and completion of the pads, gas runs, as well as the Tunnel Car Wash and
construction of the buildings totaling over 15,000 square feet on two separate pads.
This phase will be in the amount determined by bid in the design of the project itself in Phase
One. It is expected to be dependent on exactly what we choose to build and lease on this
property. The property is on a main street through the area and adjacent to commercial,
industrial as well as entry level home developments taking place and surrounding the site.
There is a single family tract in back of the project and immediately next door is a nice selfstorage
project. The neighborhood is very nice and quiet and the homes are all $400K and up.
We anticipate that we will need approximately $1.1 to $1.5MM in total equity investment (PH I
& II) to complete this project and we are certain we will deliver a tremendous profit to the
(C) 2017 Sky West Services and Jeffrey Lowden. All Rights Reserved