121 California AveReno, NV 89509

Property Details for 121 California Ave

Year built

1918

Construction

FRAME

Lot size

0.24 AC

Property size (Sq ft)

4,327 SF

Zone code

MDRD

Property type

Office buildings

APN

011-182-27

APU

1118227

Description

This exceptional three-story, 4,327-square-foot office building, located at 121 California Avenue in Reno's vibrant Downtown Riverwalk District, presents a unique investment opportunity. Built in 1918, this single-tenant property boasts a rich history, previously housing the Sundance Bookstore. The building's prime location offers convenient access to numerous dining options and the Midtown District, all within walking distance. The property features a versatile layout including multiple private offices and a dedicated conference room, making it suitable for a variety of office or even retail uses. The building sits on a 0.24-acre lot and includes a dedicated parking lot, supplementing the ample street parking readily available. Its strategic location provides easy access to Interstate 80 on/off ramps, ensuring excellent connectivity. The property is zoned for Mixed-Use Downtown Riverwalk District use, offering flexibility for future development. The building's address is 121 California Ave, Reno, NV, with a Washoe County APN of 011-182-27. The entire 4,327 square feet is currently vacant, providing immediate occupancy for a new tenant. This is a rare opportunity to acquire a historic building in a thriving downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $863,487

  6.5%

  $797,065

  7%

  $740,132

• Comparable approach

  Method

  Valuation

  Relative Method

  $990,840

  Geo Method

  $990,840

• Alternative Use

  Use

  Valuation

  Residential

  $988,361

  Hospitality

  $905,333

  Educational

  $753,227

  Medical

  $779,131

  Retail

  $1,171,686

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.5204

Longitude

-119.812

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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