5020 Las Brisas BlvdReno, NV 89523

Property Details for 5020 Las Brisas Blvd

Year built

2006

Construction

WOOD

Lot size

1.53 AC

Property size (Sq ft)

6,797 SF

Zone code

NC

Property type

Strip malls

Property subtype

Neighborhood centers

APN

001-144-10

APU

114410

Description

This exceptional Class A shopping center in Reno, Nevada, presents a compelling investment opportunity. Spanning 13,957 square feet across two single-story buildings on a 1.53-acre lot, this property boasts 100% occupancy with seven diverse tenants, including food and beverage, medical, and professional services. Built in 2006, the center features a strong tenant mix with long-term leases, averaging five years remaining. The property enjoys a prime location at the intersection of S. McCarran Blvd. and Las Brisas Blvd., benefiting from high visibility and traffic counts exceeding 27,000 cars per day. Ample parking (87 spaces) and convenient access to I-80 and N. Virginia St. further enhance its appeal. The surrounding area is densely populated, with over 14,000 residents and 5,500 homes within a one-mile radius, boasting an average household income exceeding $103,000. The property's Net Operating Income (NOI) is $390,503, yielding a 6.51% cap rate, and is offered at $6,000,000 ($429.89/sq ft). The property is zoned NC and includes an assumable loan of $2.5 million at 4.763% interest, maturing in July 2025. This is a rare opportunity to acquire a high-performing, well-located retail asset in a thriving Reno submarket.

• CAP approach

  CAP return

  Valuation

  6%

  $1,993,901

  6.5%

  $1,840,524

  7%

  $1,709,058

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,922,242

  Geo Method

  $3,922,242

• Alternative Use

  Use

  Valuation

  Residential

  $1,552,551

  Hospitality

  $1,422,128

  Educational

  $1,183,194

  Medical

  $1,223,886

  Retail

  $1,840,524

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.54

Longitude

-119.863

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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