300 2Nd StReno, NV 89501

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 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.

• CAP approach

  CAP return

  Valuation

  6%

  $88,543,200

  6.5%

  $81,732,200

  7%

  $75,894,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $119,038,000

  Geo Method

  $119,038,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $162,254,000

  Retail / Commercial

  $82,940,200

  Mixed-Use / Specialty

  $82,437,500

  Hospitality / Lodging

  $60,212,300

  Institutional / Educational

  $85,627,800

  Residential Income

  $100,185,000

  Multifamily

  $121,303,000

  Automotive / Energy

  $73,395,300

  Parking / Income-Based Land

  $25,532,300

  Restaurant / Food Service

  $42,434,700

  Healthcare / Senior Housing

  $84,750,400

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

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