300 2Nd StReno, NV 89501

  • Office properties
  • 519,840 SF
For Lease
$5.16/SF/YR View listing

Property Details for 300 2Nd St

Year built
1981
Construction
FRAME
Lot size
1.08 AC
Property size (Sq ft)
519,840 SF
Zone code
MDRD
Property type
Office properties
Property subtype
Office buildings
APN
011-078-05
APU
1107805

Description

Park Center Tower, located at 300 E 2nd St, Reno, NV 89501, offers exceptional office space in the heart of Downtown Reno's Freight House District. This Class B building, constructed in 1981, boasts a total of 136,497 square feet and currently has two available suites ranging from 9,105 to 14,699 square feet. The building caters to a diverse tenant base, including law firms, trust companies, CPAs, tech companies, and customer service centers, reflecting its versatile and desirable location. Its strategic position across from the Reno Aces AAA baseball stadium provides excellent visibility and accessibility. Parking is ample, with a 7:1000 ratio. The building's amenities include a newly added on-site fitness center and a 15th-floor executive conference room offering stunning views, available for all tenants' use. Adding to the convenience, a Courtyard by Marriott hotel is adjacent to the building. Nearby dining options include popular establishments such as Mellow Fellow Pub, Louie's Basque Corner, and The Depot Distillery and Brewery. A Darkshot Coffee Shop is slated to open on the ground floor in 2022. This property presents a unique opportunity for businesses seeking a vibrant and well-connected location in Downtown Reno. The building offers both traditional and executive office spaces, making it suitable for a variety of business needs.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $78,126,376
    6.5%
    $72,116,656
    7%
    $66,965,468
  • Comparable approach

    Method
    Valuation
    Relative Method
    $119,038,160
    Geo Method
    $119,038,160
  • Alternative Use

    Use
    Valuation
    Residential
    $89,424,656
    Hospitality
    $81,912,504
    Educational
    $68,150,240
    Medical
    $70,494,032
    Retail
    $106,011,488
300 2Nd St, Reno, Nevada

Location Insight

City
Reno
County
Washoe
State
Nevada
Latitude
39.5273
Longitude
-119.809
CBSA code
39900
CBSA name
RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$286,092
$346,555
$7,685,945
$8,032,500
-
$990,158
$21,959,842
$22,950,000

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