652 Forest StReno, NV 89509

Property Details for 652 Forest St

Year built

1932

Construction

FRAME

Lot size

0.25 AC

Property size (Sq ft)

3,502 SF

Zone code

MUMC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

011-225-02

APU

1122502

Description

Exceptional investment opportunity in Reno's vibrant Midtown area. This property encompasses three buildings on two parcels totaling 0.37 acres, offering a unique blend of income-generating potential and prime office space. The main building, a 3,502 square foot executive office space, features a spacious layout, four bathrooms, and 1,383 square feet of basement storage. Its corner lot location ensures maximum visibility and accessibility. Two additional rental homes provide supplemental income; one is 458 square feet, generating $1,050 monthly rent, and the other is 168 square feet, generating $500 monthly rent. Ample parking is available with 16 designated spots. The property boasts a fully landscaped exterior and is situated near commercial centers, restaurants, and cultural attractions. The main office building is zoned MU-MC. The total square footage is 4,128 square feet, with a net rentable area of 4,128 square feet. The asking price is $1,400,000, resulting in a price per square foot of $339.15. The current Net Operating Income (NOI) is $15,605. The property was built in 1940 and includes three buildings. The property's address is 652 Forest St, Reno, NV 89509. APN: 011-225-02 (and an additional APN: 011-225-01). Matterport 3D renderings of the office building are available online. This owner/user investment presents a compelling opportunity for both business owners and investors seeking a strong return.

• CAP approach

  CAP return

  Valuation

  6%

  $866,576

  6.5%

  $799,917

  7%

  $742,780

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,242,981

  Geo Method

  $1,242,981

• Alternative Use

  Use

  Valuation

  Residential

  $799,917

  Hospitality

  $732,719

  Educational

  $609,614

  Medical

  $630,580

  Retail

  $948,288

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.5185

Longitude

-119.811

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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