For Sale
$1,650,000

160 Grove StReno, NV 89502

Prime Reno location, high potential

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use property in Reno, Nevada, presents a compelling investment opportunity. Located just 0.16 miles from South Virginia Street, this central location offers convenient access to Reno-Tahoe International Airport. The property comprises two buildings on two separate parcels, each 0.241 acres, totaling 0.482 acres. The first building, constructed in 1952, features 5,693 square feet of space currently leased as a neighborhood market. This building boasts a new roof (2019) and a recently rebuilt sewer main (2021). The second building, built in 1986, offers 3,220 square feet, currently leased as an auto repair shop with three bays, a sand/oil separator, a small office, and flex space. The property also includes a separate apartment. The combined square footage is 8,913 square feet, with five total units, currently operating at 100% occupancy. Tenants are credit-rated, with leases ranging from month-to-month to a five-year term. Annual rent bumps of $100 are in place for the store, while the shop has a one-year lease. The property is zoned MU and includes 10 parking spaces. The asking price is $1,650,000, representing a price per square foot of $185.12 and a price per unit of $330,000. This property offers significant redevelopment potential, situated directly across from the Reno Experience District. The property's strong cash flow, combined with its prime location and redevelopment potential, makes it an attractive investment. The property's APN numbers are 020-011-09 and 020-011-08.

Highlights

  • Two 0.241-acre parcels.
  • Excellent location, 0.16 miles from S Virginia Street, minutes from Reno-Tahoe International Airport.
  • 160 E Grove St: 5,693 SF building (1952, concrete block construction; currently leased as a mini-market).
  • 160 E Grove St: New roof (2019), sewer main replaced (2021).
  • 160 E Grove St: Includes a leased apartment.
  • 170 E Grove St: 3,220 SF building (1986, concrete block construction; currently leased as an auto shop).

Property Details for 160 Grove St

Property type
Mixed-use properties
Square Feet
8,913 SF
Buildings
2
Lot Size (sq. ft)
20,996 SF
Units
5

Location Insight

City
Reno
County
Washoe
State
Nevada
Latitude
39.500918513109
Longitude
-119.79743019242
160 Grove St, Reno, Nevada

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160 Grove St
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