Corner Mixed-Use
For Sale
$1,250,000
1105 W 2nd Street, Reno, NV 89503
Commercial Sale, Reno, NV
Property Size3,700 SF
Lot Size0.34 Acres
Price / SF$337.84
Days on Market56
Property Features for 1105 W 2nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC - GENERAL COMMERCIAL
Parking
15
Parking features
Parking Lot, On Street, Paved or Surfaced, Off Street, Alley
Window features
Low Emissivity Windows, Vinyl Frames, Window Coverings, Blinds
Fencing
Chain Link
Basement
Finished
Subdivision
Chism Addition
Lot features
Corner Lot, Landscaped, Level
Directions
Keystone, West on 2nd St, NW Corner of 2nd and Gardner St.
Standard status
Active
APN
010-043-04
Size
3,700 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
2587
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1935
Floors in Building
2
Number of units
5
Flooring type
Vinyl, Varies, Tile, Wood, Carpet
Building materials
Batts Insulation, Vinyl Siding, Wood Siding
Roof type
Asphalt, Shingle, Composition
Additional Structures
Outbuilding
Listing Agency:
Reno Realty
(775) 313-9600
Listed By:
Gregory Anastassatos · License #S.173938
(775) 830-0735
Added: Aug 2
Changed: Sep 12
Last Checked: Sep 26 at 5:06AM
MLS# 260009967
Copyright © 2026 Northern Nevada Regional MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1935, this 3,700-square-foot mixed-use property occupies a 0.34-acre corner lot at West 2nd and Gardner Streets. The main floor and basement provide office and storage space, with partially updated electrical, Ethernet wiring, a dedicated server closet, perimeter security cameras, and upgraded 200-amp service. The second floor includes a recently updated studio and a partially updated one-bedroom unit. The studio, office areas, and basement are vacant, while the one-bedroom unit is leased through the end of the year. A detached three-car garage adds storage capacity.
The property is zoned GC - General Commercial and is near Downtown Reno, the Truckee River corridor, medical services, restaurants, employment centers, and regional transportation access. A Lumen fiber connection and another fiber line are located across Gardner Street. Current zoning standards may permit residential density of up to 45 dwelling units per acre and building height up to 65 feet, subject to verification.
The property is zoned GC - General Commercial and is near Downtown Reno, the Truckee River corridor, medical services, restaurants, employment centers, and regional transportation access. A Lumen fiber connection and another fiber line are located across Gardner Street. Current zoning standards may permit residential density of up to 45 dwelling units per acre and building height up to 65 feet, subject to verification.
Key Highlights
- 3,700‑square‑foot mixed‑use building on a 0.34‑acre corner lot
- GC - GENERAL COMMERCIAL zoning with potential density up to 45 dwelling units per acre
- Potential building height up to 65 feet under current zoning standards
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,406
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,308,120
$1.3M
Cap Rate 7%
$934,371
$934.4K
Cap Rate 9%
$726,733
$726.7K
Market Conditions
NOI Build-Up for 3,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$107.0K $28.92/SF
− Vacancy
−$19.8K −$5.35/SF
EGI
$87.2K $23.57/SF
− OpEx
−$21.8K −$5.89/SF
NOI
$65.4K $17.68/SF
Area
Reno, NV
Vacancy
18.50%
Lease Rate
$28.92 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,308,120
Cap Rate 7%
$934,371
Cap Rate 9%
$726,733
Alternative Uses
Best Use
Office B
$934.4K
$817.6K – $1.09M
NOI $65,406 @ 7.0% cap · market cap 5.23%
Second Best
Mixed Use
$771.4K
$674.9K – $899.9K
NOI $53,995 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$1.14M
$997.8K – $1.33M
NOI $79,821 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,393
Businesses Nearby
Explore this area
Business Placement
Demographics for 89503, NV
28,737
Population
13,938
Households
2.1
Avg Household Size
33
Median Age
36%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
4,635
Density / Sq Mi
$66,956
Median Household Income
$37,352
Median Earnings
$1,336
Median Rent
$441,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Reno, NV
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The 1935 building combines vacant office and storage areas with two residential units and a detached three-car garage.
Where is this mixed-use property located?
The property is located at 1105 W 2nd Street Reno, NV.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,700‑square‑foot mixed‑use building on a 0.34‑acre corner lot; GC - GENERAL COMMERCIAL zoning with potential density up to 45 dwelling units per acre; Potential building height up to 65 feet under current zoning standards
