2195 Virginia StReno, NV 89502

Property Details for 2195 Virginia St

Year built

1995

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.46 AC

Property size (Sq ft)

4,142 SF

Zone code

MU

Property type

Turn key restaurants

APN

003-160-21

APU

316021

Description

This exceptional 25,517 square foot commercial property, located at 2195 S Virginia St in Reno, Nevada, presents a compelling investment opportunity. Built in 2007, this two-story building sits on a 1.69-acre lot (APN: 019-550-08, 019-550-12) and is zoned MU, offering significant flexibility for various uses. Currently, a tenant occupies 2,500 square feet under a month-to-month lease. The property's diverse zoning allows for a wide range of possibilities, including general retail, commercial kitchens, restaurants (with alcohol service), general office space, medical offices, and medical clinics. The asking price is $7,300,000. This location offers owner-user occupancy potential and is situated within an Opportunity Zone, presenting further redevelopment opportunities for investors seeking to capitalize on tax advantages. The property's size and zoning make it ideal for a variety of businesses seeking a prominent location in Reno, Washoe County, Nevada (Zip Code 89502). This is a rare chance to acquire a substantial commercial property with significant upside potential in a thriving Nevada market.

• CAP approach

  CAP return

  Valuation

  6%

  $915,072

  6.5%

  $844,682

  7%

  $784,348

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,390,161

  Geo Method

  $2,390,161

• Alternative Use

  Use

  Valuation

  Residential

  $712,521

  Hospitality

  $652,665

  Educational

  $543,010

  Medical

  $561,685

  Retail

  $844,682

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.5487

Longitude

-119.822

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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