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    The Largest CRE Database in the US with Over 1 Million Listings

    1870 Vassar St, Unit 4 Reno, NV 89510

    Sponsored
    For Sale
    $2,200,000

    COMMERCIAL - Reno, NV

    Type:Retail
    Property size:
    5,672 SF
    Lot size:
    0.45 Acres
    Days on Market:
    75
    Last Refresh:
    Jan 26 at 10:06 pm

    Property Features for 1870 Vassar St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Window features
    Display Window(s)
    Zoning
    GC
    APN
    013-333-01
    Parking features
    Parking Lot
    Size
    5,672 SF
    Lot size
    0.45 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1991
    Floors in Building
    1
    Number of units
    5
    Building materials
    Frame
    Roof type
    Flat

    We can help!

    Listing Contact
    Ricci Rodriguez-Elkins
    Ricci Rodriguez-Elkins

    Keller Williams Realty Sparks (775) 336-3800

    Listing agent Ricci Rodriguez-Elkins (775) 240-5143 License #BS.146909

    Listing date Nov 13, 2025

    MLS# 250057894

    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.

    Learn more

    Property Insight Report

    Overview

    Reno Strip Center with Market

    This established and well-maintained neighborhood strip center includes Vassar Market, offering an excellent owner/user opportunity. In addition to Vassar Market, the property features four other long-term tenants, generating a steady income stream from retail, professional services, and personal service providers. Located in central Reno with convenient access to I-580, the property offers a prime location with high visibility. The property includes 5,672 square feet of retail space on a 0.45-acre lot. There are 22 parking spaces with easy access onto Vassar Street, making it highly accessible for customers. The zoning is GC. The rental income can be further increased as lease terms expire, potentially enhancing the property's cap rate. This is a remarkable investment opportunity for both owner-operators and investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Instant Smog Inc Oil Change Service Vassar Market Grocery Store 3 Way of Nevada Used Car Dealer Q's Quik Smog Smog Inspection Station Iglesia de Cristo ... Christian Church

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.785127
    Latitude
    39.5127

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    FAQs

    What type of property is this?
    Strip mall - Well-maintained Reno strip center with long-term tenants and market.
    Where is this strip mall located?
    The property is located at 1870 Vassar St, Unit 4 Reno, NV.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: - Vassar Market included in the sale - an excellent owner/user opportunity.; - Steady income stream from four long-term tenants.; - Prime central Reno location with convenient access to I-580 and high visibility.
    (775) 240-5143
    Request Owner's contact information
    1870 Vassar St, Unit 4 Reno, NV 89510
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1870 Vassar St, Unit 4 Reno, NV 89510
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    We can help!
    Listing Contact
    Ricci Rodriguez-Elkins
    Ricci Rodriguez-Elkins
    Real Estate License ID: BS.146909
    (775) 240-5143
    Learn more
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