5020 Las Brisas BlvdReno, NV 89523

  • Retail properties
  • 6,797 SF
For Sale
$6,000,000 View listing

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
Retail properties
Property subtype
Strip malls
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
5020 Las Brisas Blvd, Reno, Nevada

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$23,749
$233,415
$497,263
$730,678
-
$666,900
$1,420,750
$2,087,650

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