2195 Virginia StReno, NV 89502
- Retail properties
- 4,142 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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