1295 7Th StReno, NV 89503

Property Details for 1295 7Th St

Year built

1967

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.17 AC

Property size (Sq ft)

1,089 SF

Zone code

NC

Property type

Drive through restaurants

APN

006-111-13

APU

611113

Description

This fee-simple retail property offers a compelling investment opportunity. The 1,326 square foot Pizza Hut is located at 1295 W 7th St, Reno, NV 89503, on a 0.35-acre lot. Built in 1967 and renovated in 1972, the property is currently 100% occupied under a 15-year triple-net (NNN) lease with a franchisee tenant. The lease commenced November 26, 2017, and expires November 29, 2032, leaving over eight years remaining. The current annual net operating income (NOI) is $68,921, representing a 5.75% cap rate on the $1,198,626 asking price. The lease includes annual rent increases of 2.00%, providing consistent income growth. This is a tax-advantaged investment in Nevada, a state with no state income tax and low property taxes. The property presents a strong, passive income stream with significant lease term remaining and built-in rent escalations. This is a single-tenant, absolute NNN lease, meaning the landlord has no responsibility for property expenses.

• CAP approach

  CAP return

  Valuation

  6%

  $252,731

  6.5%

  $233,290

  7%

  $216,627

• Comparable approach

  Method

  Valuation

  Relative Method

  $259,345

  Geo Method

  $259,345

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $459,471

  Mixed-Use / Specialty

  $230,627

  Hospitality / Lodging

  $166,819

  Office

  $227,349

  Institutional / Educational

  $239,104

  Residential Income

  $279,752

  Multifamily

  $345,674

  Automotive / Energy

  $204,946

  Parking / Income-Based Land

  $72,534.20

  Restaurant / Food Service

  $116,041

  Healthcare / Senior Housing

  $238,382

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.5311

Longitude

-119.833

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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