25 La Rue AveReno, NV 89509

Property Details for 25 La Rue Ave

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.31 AC

Property size (Sq ft)

3,254 SF

Zone code

MUMC

Property type

Retail properties

Property subtype

Retail space

APN

011-331-06

APU

1133106

Description

This exceptional mixed-use property, located at 25 La Rue Avenue in Reno, Nevada's vibrant Midtown district, presents a compelling investment opportunity. Situated on a sizable 0.31-acre corner lot at the intersection of South Virginia Street and La Rue Avenue, this property offers unparalleled accessibility and visibility. The existing structures, totaling 4,402 gross square feet, are currently configured as a market, a church, and a billboard, generating immediate income potential. Built in 1968, the property is zoned MUMC, allowing for a wide range of commercial uses. Its strategic location provides easy access to major transportation arteries, including Interstates 580 and 80, ensuring high traffic flow and convenient access for customers and employees. The property is being sold "As-Is" with no repairs included, offering buyers the flexibility to renovate existing structures or develop new ones to suit their specific business needs. Priced at $2,150,000, or $488.41 per square foot, this property represents a significant value proposition in a highly sought-after location. The substantial lot size and flexible zoning provide ample room for expansion and future development, making it an ideal investment for entrepreneurs and developers alike. Don't miss this chance to acquire a thriving commercial property in the heart of Reno's dynamic Midtown area.

• CAP approach

  CAP return

  Valuation

  6%

  $954,562

  6.5%

  $881,134

  7%

  $818,196

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,877,736

  Geo Method

  $1,877,736

• Alternative Use

  Use

  Valuation

  Residential

  $743,269

  Hospitality

  $680,831

  Educational

  $566,443

  Medical

  $585,924

  Retail

  $881,134

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.5165

Longitude

-119.809

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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