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$1,480,000
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Property Description
Prime investment opportunity in Sparks, NV: This current Medical Office Building was renovated in 2013 which gave it a very modern appeal. This fully converted medical office is on a strategic corner with high visibility, NDOT reports over 14,900 vehicles daily. This property features many more recent upgraded amenities including: a refreshed TPU roof coating and fresh exterior paint over existing Stucco in April of 2025, to further boost operational efficiency high-speed fiber internet was installed in the fall of 2024 making it a coveted asset in the market. Dual HVAC units were installed August of 2021 and a PVC sewer line was installed in approximately 2008. Paving was recoated approximately 2 years ago further enhancing the safety of the exterior area with high parking lot and roof lights in addition to the exterior and interior camera system. Entering the building you'll find a spacious patient waiting room, 4 exam rooms, an executive office, lab room, 2 restrooms and staff facilities. This turnkey space is ideal for medical professionals. Zoned C2 this building is well suited for whatever general commercial needs you may need. The property offers easy access via major roads and public transport, enhancing its convenience and appeal. Don't miss this opportunity to own a lucrative medical office building in a thriving location. Contact us today for more details or to schedule a private showing. Video Link: https://youtu.be/pku0Ovl3izU
Full Property Details
Full Property Details for 480 E Prater Way
General
- Price: $1,480,000
- Taxes: $8,902
- Status: Under Contract
- Type: Commercial Institutional
- Source: 2502
- MLS ID: 250050724
- Updated: 2/26/2026
- Added to Site: 323 day(s) ago
Business
- Name: Family Medicine Associates
- Business Type: Other, Commercial, Retail, Restaurant, Professional/Of
Interior
- Flooring: Carpet, Concrete, Tile
Rooms
Other Rooms
- Laundry: None
Additional Information
- Other Features: Private Restroom(s), No Common Area Facilities, Breakroom
Parking
- Total Spaces: 34
- Parking Features: Accessible Parking, Lighted, Parking Lot, Paved
Location
- County: Washoe
- Cross Streets: McCarran Blvd
- Driving Directions: East Prater Way, between Pyramid Way and east McCarran Blvd
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air, Refrigerated
- Heating Type: Forced Air, Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Electricity Available, Electricity Connected, Internet Available, Internet Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Phone Connected, Sewer Available, Sewer Connected, Water Avai
Structural Information
- # Buildings: 1
- Builder: Family Medicine Associates
- Exterior Const.: Frame, Stucco
- Roof: Membrane
- Common Walls: No Common Walls
- Windows: Double Pane Windows, Metal Frames
- Stories/Levels: 1
- Building Size: 2459
- Sq. Ft. Source: Assessor
- Year Built: 1984
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.56
- Lot Size (Sq. Ft.): 24,393.6
- Lot Dimensions: 128 x 193
- Frontage: County Road, Public
- Street/Road Desc.: Paved
- Road Maintenance: Public Maintained Road
- Lot Features: Corner Lot, Landscaped, Level, Sprinklers In Front, Sprinklers In Rear
- Zoning: C2
- Fencing (Description): Partial, Chain Link
Financial Considerations
- Price Per Sq. Ft.: $601.87
- Tax Amount: $8,902.94
- Terms: Cash, Conventional
Disclosures and Reports
- APN: 033-141-44
Listed by Reno Sparks Realty, LLC, Richard Rogers (775) 771-4234
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Schools
Schools serving 480 E Prater Way
School District:Washoe County School District
| Name | Grades | Distance |
|---|---|---|
Greenbrae Elementary School 1840 4th Street, Sparks, NV 89431 | K-5 | 0.7 mi |
George L Dilworth Middle School 255 Prater Way, Sparks, NV 89431 | 6-8 | 0.4 mi |
Sparks High School 820 15th Street, Sparks, NV 89431 | 9-12 | 1.2 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 480 E Prater Way
Date
Details
Price
Change
Source
8/21/2025
Price Reduced
$1,480,000
-14.2%
MLS
7/11/2025
Price Reduced
$1,725,000
-11.54%
MLS
5/31/2025
Listed
$1,950,000
387.5%
MLS
10/05/2012
Sold
$400,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 480 E Prater Way
Year
Property Taxes
Change
Tax Assessment
Change
2025
$8,903
8%
$246,854
-1%
2024
$8,245
8%
$250,421
4%
2023
$7,634
8%
$240,833
12%
2022
$7,074
8%
$215,274
4%
2021
$6,546
—
$206,135
-2%
2021
$6,546
12%
$209,429
7%
2019
$5,863
5%
$195,355
—
2018
$5,596
4%
$195,327
-1%
2017
$5,371
3%
$197,413
-2%
2016
$5,236
-5%
$200,563
—
2015
$5,488
3%
$201,451
1%
2014
$5,327
—
$199,818
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 480 E Prater Way
480 E Prater Way, Sparks, NV 89431 (MLS# 250050724) is a Commercial Institutional property. 480 E Prater Way is currently listed for $1,480,000 and was received on May 31, 2025. Want to learn more about 480 E Prater Way? Do you have questions about finding other Commercial Institutional real estate for sale in Sparks? You can browse all Sparks real estate or contact a Coldwell Banker agent to request more information.

