For Sale
Call for price

231 Virginia StReno, NV 89501

Historic Casino, 8,390 SF, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional opportunity presents the acquisition of The Nugget, a historic casino property situated in the heart of Downtown Reno, Nevada. Built in 1935, this ±8,390 square foot building boasts a rich history and a prime location on N. Virginia St., steps from the iconic Reno Arch. The property features a main floor that previously housed a casino and diner, a basement with storage and prep areas, and a mezzanine level with offices and restrooms. The property is zoned MD-ED (Mixed-Use Downtown Entertainment District) under APN 011-051-13 & 011-051-14. A significant advantage is the inclusion of a rare, grandfathered, non-restricted Nevada gaming license. This license presents a unique value-add opportunity for the new owner, allowing for either on-site operation or potential relocation within the City of Reno Redevelopment Project Area (RDA 1), subject to buyer due diligence and verification. The property's location within a Qualified Opportunity Zone further enhances its investment potential. This is a truly unique opportunity to acquire a piece of Reno history with significant upside potential.

Highlights

  • Rare, grandfathered unrestricted gaming license.
  • Historic building.
  • Prime downtown Reno location.
  • Redevelopment opportunity in a Qualified Opportunity Zone (QOZ).

Property Details for 231 Virginia St

Property type
Casinos, Hospitality properties
Square Feet
8,390 SF
Year Built
1935

Location Insight

City
Reno
County
Washoe
State
Nevada
Latitude
39.5275874
Longitude
-119.8136883
231 Virginia St, Reno, Nevada

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231 Virginia St
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