For Sale
$6,000,000

5020 Las Brisas BlvdReno, NV 89523

7-Tenant Shopping Center, 6.51% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional Class A shopping center in Reno, Nevada, presents a compelling investment opportunity. Spanning 13,957 square feet across two single-story buildings on a 1.53-acre lot, this property boasts 100% occupancy with seven diverse tenants, including food and beverage, medical, and professional services. Built in 2006, the center features a strong tenant mix with long-term leases, averaging five years remaining. The property enjoys a prime location at the intersection of S. McCarran Blvd. and Las Brisas Blvd., benefiting from high visibility and traffic counts exceeding 27,000 cars per day. Ample parking (87 spaces) and convenient access to I-80 and N. Virginia St. further enhance its appeal. The surrounding area is densely populated, with over 14,000 residents and 5,500 homes within a one-mile radius, boasting an average household income exceeding $103,000. The property's Net Operating Income (NOI) is $390,503, yielding a 6.51% cap rate, and is offered at $6,000,000 ($429.89/sq ft). The property is zoned NC and includes an assumable loan of $2.5 million at 4.763% interest, maturing in July 2025. This is a rare opportunity to acquire a high-performing, well-located retail asset in a thriving Reno submarket.

Highlights

  • 100% occupancy with seven diverse tenants, average lease term of 5 years remaining.
  • Class A, 13,957 SF retail center built in 2006.
  • High-visibility location on S. McCarran Blvd., over 27,000 CPD.
  • Strong tenant mix including food & beverage, medical, and professional services.
  • 87 parking spaces with convenient access from Las Brisas Blvd.
  • Densely populated area with over 14,000 residents within one mile.

Property Details for 5020 Las Brisas Blvd

Property type
Lifestyle centers, Power centers
Square Feet
13,957 SF
Class
A
Year Built
2006
Buildings
2
Stories
1
Lot Size (sq. ft)
66,647 SF
Units
7

Location Insight

City
Reno
County
Washoe
State
Nevada
Latitude
39.5402059
Longitude
-119.8630333
5020 Las Brisas Blvd, Reno, Nevada

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5020 Las Brisas Blvd
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