507 4Th StReno, NV 89512

Property Details for 507 4Th St

Year built

1966

Construction

METAL FRAME

Lot size

0.25 AC

Property size (Sq ft)

1,323 SF

Zone code

MDID

Property type

Grocery and convenience stores

APN

008-241-09

APU

824109

Description

This exceptional investment opportunity encompasses two adjacent convenience stores located in the heart of Reno, Nevada, at 507 & 535 E 4th St. The properties, situated on a combined 0.25 acres, boast a total square footage ranging from 1,323 to 4,200 square feet, offering significant potential for expansion or redevelopment. Built in 1930 and 1966 respectively, these buildings are zoned MD-ID (Mixed-Use Downtown Innovation District), allowing for a variety of uses beyond their current configuration as mini-marts. The properties are conveniently located in Reno, Washoe County, NV, 89512, providing easy access to a high-traffic area and a dense population base. The asking price for this combined retail investment is $1,325,000. The individual APNs are 008-241-09 and 008-241-06. This presents a rare chance to acquire established businesses in a thriving urban core, with the flexibility to adapt to evolving market demands within the dynamic MD-ID zoning. The properties' location and zoning provide a strong foundation for long-term growth and profitability, making this an attractive investment for both seasoned and emerging investors seeking a foothold in the Reno market. The combined size and strategic location offer significant upside potential for future development or continued operation as successful convenience stores.

• CAP approach

  CAP return

  Valuation

  6%

  $292,284

  6.5%

  $269,801

  7%

  $250,529

• Comparable approach

  Method

  Valuation

  Relative Method

  $763,444

  Geo Method

  $763,444

• Alternative Use

  Use

  Valuation

  Residential

  $227,587

  Hospitality

  $208,468

  Educational

  $173,443

  Medical

  $179,408

  Retail

  $269,801

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.5315

Longitude

-119.807

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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