2195 Virginia StReno, NV 89502

  • Retail properties
  • 4,142 SF
For Sale
$7,300,000 View listing

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
2195 Virginia St, Reno, Nevada

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$16,127
$416,682
$204,838
$621,520
-
$1,190,520
$585,251
$1,775,771

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