1039-1045 S Virginia St - Storefront Retail/Office FOR SALE


Reno, NV 89502- Midtown Reno
$6,459,000 USD
775-233-7049
1039-1045 S Virginia St, Reno, NV for Sale
$6,459,000 USD
Storefront Retail/Office - FOR SALE
1/19
null | 7% Cap Rate

1039-1045 S Virginia St
Reno, NV 89502
Midtown Reno


HIGHLIGHTS

  • Fully leased to strong tenants on NNN leases
  • Immediate upside to new owner from collecting full reimbursements, which the current owner is not enforcing
  • High identity, fully restored and upgraded, historically significant commercial building with state-of-the-art finishes
  • Highly visible location in the heart of Midtown Reno along South Virginia Street and the new roundabout
  • Midtown is one for the most popular submarkets immediately south of Downtown Reno
  • Beneficiary of recent and extensive upgrades to the South Virginia transportation corridor

OVERVIEW

CBRE, Inc. is pleased to offer for sale a meticulously maintained, state of the art NNN leased, multi-tenant commercial building in the heart of Reno's vibrant Midtown District. The building boasts strong returns for a passive investor where premier tenants are on long-term NNN leases, including full CAM/expense recovery which also covers management and administrative fees. Current tenants are some of the most popular businesses in Midtown including: Parlay6 Brewing Co., Pizzava Pizza, Rum Sugar Lime, and The Nuclear Company. The owner of the building also owns all of the brewing equipment and restaurant fixtures within the Parlay6 suite, which is included in the purchase price. Ideal 1031 exchange property offering ease of ownership through high quality improvements and stability of income. Originally built in 1941 and extensively renovated with lifetime warranties in 2017, the property at 1039-1045 S. Virginia features 100% brand new systems in a 1940’s brick shell.

FOR SALE DETAILS

PRICE

$6,459,000 USD

PRICE/SF

$552 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

100% Leased NNN Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

MU-MC

APN/PARCEL ID

014-064-25

ASK ABOUT THIS PROPERTY

Aiman NoursoultanovaCBRE, Inc.More Info
775-233-7049

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Aiman NoursoultanovaCBRE, Inc.More Info
775-233-7049

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.