8805 Red Rock RdReno, NV 89508

Property Details for 8805 Red Rock Rd

Year built

2022

Construction

METAL FRAME

Lot size

4.39 AC

Property size (Sq ft)

1,056 SF

Zone code

GC

Property type

Office buildings

APN

087-350-33

APU

8735033

Description

This exceptional Class A self-storage facility in Reno, Nevada presents a compelling value-add investment opportunity. Built in 2022, the property boasts 96,700 net rentable square feet across four single-story buildings, encompassing 220 units. The facility features a modern leasing office, drive-up and climate-controlled units, and is fully secured with cameras and gated entry/exit. Strategically located less than 0.3 miles from Interstate 395 (50,000+ vehicles per day), the property benefits from high visibility and convenient access. Units average 376 square feet, catering to a diverse range of storage needs, including business, commercial, and RV storage. An additional 15,000 square feet of rentable space can be added to the existing footprint. Furthermore, a fully entitled, permitted, and graded 6.44-acre adjacent lot is available for purchase separately or with the main property, offering significant expansion potential (approximately 93,581 additional square feet). The property sits on 5.44 to 11.88 acres of land and offers a pro-forma NOI of $1,000,000 and a pro-forma cap rate of 6.00%. The asking price is $17,950,000, translating to $185 per square foot. The property's location within Reno's rapidly growing residential and employment hub, coupled with the limited supply of comparable self-storage assets, makes this a rare and valuable investment opportunity. The seller has completed all permitting, engineering, and site preparation for the adjacent lot, making it a truly shovel-ready expansion project. The APN is 087-350-33.

• CAP approach

  CAP return

  Valuation

  6%

  $210,733

  6.5%

  $194,523

  7%

  $180,628

• Comparable approach

  Method

  Valuation

  Relative Method

  $241,813

  Geo Method

  $241,813

• Alternative Use

  Use

  Valuation

  Residential

  $241,208

  Hospitality

  $220,946

  Educational

  $183,824

  Medical

  $190,146

  Retail

  $285,949

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.6323

Longitude

-119.918

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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