785 E 2nd St - Freestanding FOR SALE


Reno, NV 89502- Midtown Reno
$1,145,000 USD
775-348-5234
785 E 2nd St, Reno, NV for Sale
$1,145,000 USD
Freestanding - FOR SALE
1/4
null | 6.01% Cap Rate

785 E 2nd St
Reno, NV 89502
Midtown Reno


HIGHLIGHTS

  • Masonry & Brick Construction
  • Located just East of Reno's Downtown Core
  • 19 On-Site Parking Spaces

OVERVIEW

The Subject Property, 785 E 2nd Street, is a 5,000 square foot commercial building situated on a total of 0.32 acre(s) of land in Reno, Nevada. The property is 100% leased by a local brewery, and is well located just east of Reno’s downtown core. The existing building was constructed in 1956, and fully renovated by the current tenant in 2014. The building is masonry & brick construction, with a slightly pitched membrane roof. Most commercial buildings in the region with membrane roofs are flat; the existing pitch is a notable benefit. The offering includes two parcels that are 0.16 acres each (totaling 0.32 acres), which collectively provide 19 on-site parking spaces. The property is fully occupied by IMBIB LLC, who operates Bristlecone Brewing. After signing a lease in 2014 and opening at this location, IMBIB went on to develop a large following over the years. They expanded into the restaurant business as well with another location. Just recently, they ultimately decided to scale back to being solely a brewery again at 785 E 2nd St. (which is their original location). In 2022, IMBIB signed a new 10- year Lease at this location that expires in August of 2032. Reno has seen tremendous growth in recent years due to an influx of companies seeking the business-friendly tax climate and laws. Further, the addition of companies with an international presence in Technology, Manufacturing, Distribution, Medical, and more has given northern Nevada a robust, diversified economy. Listed at $1,145,000, or $229.00 per square-foot, this site presents a purchaser the opportunity to acquire a property with great fundamentals near Reno’s downtown core.

FOR SALE DETAILS

PRICE

$1,145,000 USD

PRICE/SF

$229 USD /SF

CAP RATE

6.01%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bristlecone Brewing Company

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,000 SF

ZONING

MUWRC

APN/PARCEL ID

012-072-20,012-072-21

ASK ABOUT THIS PROPERTY

Bret NicholsonMarcus & MillichapMore Info
775-348-5234

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Bret NicholsonMarcus & MillichapMore Info
775-348-5234

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