100 Sierra StReno, NV 89501

Property Details for 100 Sierra St

Year built

1957

Construction

FRAME

Lot size

0.32 AC

Property size (Sq ft)

41,626 SF

Zone code

MDRD

Property type

Retail properties

Property subtype

Turn key restaurants

APN

011-061-09

APU

1106109

Description

This exceptional three-story, 55,626 square foot mixed-use building at 100 N Sierra Street in Reno, Nevada, presents a unique owner-user opportunity. Located in the heart of downtown, across from the Century Riverside 12 Theater, this Class A property boasts a prime location surrounded by thriving restaurants, bars, shops, and residential areas. Built in 1957 and extensively renovated in 2020, the building features a new roof, HVAC system, modernized elevator, renovated lobby, and 12 new exterior windows. The basement is fully improved, and the entire third floor is vacant and ready for custom build-out, offering significant potential for expansion or adaptation to suit specific business needs. The property sits on a 13,983 square foot lot and is zoned MD-RD (Reno Mixed Use Downtown Riverwalk District). Current tenants include Liberty Food & Wine Exchange, Reno Axe & Social, Claggett & Sykes Law Firm, and The Agency, demonstrating strong occupancy and rental income potential. The building's recent upgrades, combined with its desirable location and existing high-quality tenants, make this an exceptional investment opportunity for owner-users seeking a prominent presence in Reno's vibrant downtown core. The asking price is $10,500,000. The property's APN is 011-061-09. Occupancy commenced June 10, 2022.

• CAP approach

  CAP return

  Valuation

  6%

  $12,210,995

  6.5%

  $11,271,688

  7%

  $10,466,568

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,020,484

  Geo Method

  $24,020,484

• Alternative Use

  Use

  Valuation

  Residential

  $9,508,091

  Hospitality

  $8,709,360

  Educational

  $7,246,085

  Medical

  $7,495,289

  Retail

  $11,271,688

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.5257

Longitude

-119.814

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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