For Sale
$2,800,000

120 Thoma StReno, NV 89501

High-yield Reno multifamily & retail.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use property at 120 Thoma St, Reno, NV 89501, presents a compelling investment opportunity. Boasting 9,250 square feet on a 0.16-acre lot, this stabilized investment features a blend of retail and residential spaces, currently operating at 100% occupancy as of February 24, 2023. The building, constructed in 1960 and extensively renovated in 2023, comprises one two-story structure with a permitted MU-MC zoning designation. The property includes five retail tenants and four residential apartments, generating a substantial net operating income (NOI) of $155,788, resulting in an attractive 5.56% capitalization rate. The asking price is $2,800,000, translating to $302.70 per square foot. Conveniently located in Midtown Reno, the property benefits from off-street parking, a large monument sign, and attractive exterior murals. This turnkey investment offers a diverse income stream and significant upside potential. The property's strong performance and prime location make it an ideal addition to any portfolio. The APN is 011-234-01.

Highlights

  • 120 Thoma St, Reno, NV 89501: 9,250 SF mixed-use building on a 0.16-acre lot.
  • 100% occupied (as of 2/24/2023) with five retail tenants and four residential units.
  • $2,800,000 asking price; $302.70/SF; 5.56% cap rate; $155,788 NOI.
  • Renovated in 2023; MU-MC zoning; off-street parking; monument signage.
  • APN: 011-234-01.

Property Details for 120 Thoma St

Property type
Retail properties, Mixed-use properties
Square Feet
9,250 SF
Year Built/Renovated
1960/2023
Buildings
1
Stories
2
Lot Size (sq. ft)
6,970 SF

Location Insight

City
Reno
County
Washoe
State
Nevada
Latitude
39.5192048
Longitude
-119.8078698
120 Thoma St, Reno, Nevada

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120 Thoma St
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