650 Sierra Rose DrReno, NV 89511

Property Details for 650 Sierra Rose Dr

Year built

2002

Construction

WOOD

Lot size

0.10 AC

Property size (Sq ft)

4,239 SF

Zone code

PD

Property type

Medical offices

Property subtype

Medical centers

APN

040-942-31

APU

4094231

Description

This exceptional Class A office building, totaling 2,661 square feet, is ideally situated in Reno's Quail Corners South Park, conveniently located off McCarren Boulevard and Kietzke Lane. Built in 2002, this single-story, 1-unit property boasts a desirable executive, medical, or traditional office configuration. The building features a meticulously designed interior, showcasing unique architectural elements and high-end finishes, reflecting over $250,000 in recent upgrades. Currently 100% occupied under a gross lease, this property presents a compelling investment opportunity. The 0.062-acre lot is zoned PD and benefits from its proximity to the burgeoning Rancharrah Master Planned Community, offering a blend of residential, retail, and restaurant options. The asking price is $1,300,000, translating to $488.54 per square foot. The seller is open to considering owner financing. This property is surrounded by other medical office buildings, making it an excellent choice for medical professionals or investors seeking a stable, high-demand location. The building's single-story design and ample parking contribute to its overall appeal. This turnkey opportunity offers immediate income generation and significant long-term potential in a thriving Reno neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $845,926

  6.5%

  $780,855

  7%

  $725,080

• Comparable approach

  Method

  Valuation

  Relative Method

  $970,689

  Geo Method

  $970,689

• Alternative Use

  Use

  Valuation

  Residential

  $968,260

  Hospitality

  $886,921

  Educational

  $737,908

  Medical

  $763,286

  Retail

  $1,147,857

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.4732

Longitude

-119.799

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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