231 Virginia StReno, NV 89501

Property Details for 231 Virginia St

Year built

1935

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.03 AC

Property size (Sq ft)

1,386 SF

Zone code

MDED

Property type

Casinos

APN

011-051-14

APU

1105114

Description

This exceptional opportunity presents the acquisition of The Nugget, a historic casino property situated in the heart of Downtown Reno, Nevada. Built in 1935, this ±8,390 square foot building boasts a rich history and a prime location on N. Virginia St., steps from the iconic Reno Arch. The property features a main floor that previously housed a casino and diner, a basement with storage and prep areas, and a mezzanine level with offices and restrooms. The property is zoned MD-ED (Mixed-Use Downtown Entertainment District) under APN 011-051-13 & 011-051-14. A significant advantage is the inclusion of a rare, grandfathered, non-restricted Nevada gaming license. This license presents a unique value-add opportunity for the new owner, allowing for either on-site operation or potential relocation within the City of Reno Redevelopment Project Area (RDA 1), subject to buyer due diligence and verification. The property's location within a Qualified Opportunity Zone further enhances its investment potential. This is a truly unique opportunity to acquire a piece of Reno history with significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $316,586

  Hospitality

  $289,991

  Educational

  $241,269

  Medical

  $249,567

  Retail

  $375,308

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.5275

Longitude

-119.814

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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