Grocery and Convenience
For Sale
$1,500,000
2490 Wrondel Way, Reno, NV 89502
Commercial Sale, Reno, NV
Property Size3,504 SF
Lot Size0.27 Acres
Price / SF$428.08
Days on Market524
Property Features for 2490 Wrondel Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU
Parking
11
Window features
Single Pane Window(s)
Directions
Linden St
Standard status
Active
APN
015-263-14
Size
3,504 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
4611
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
3
Flooring type
Concrete
Building materials
ICFs (Insulated Concrete Forms), Masonite
Listing Agency:
Solid Source Realty
(775) 636-9943
Listed By:
Ana Bautista · License #S.75229
(775) 342-5432
Added: Mar 29, 2025
Changed: Aug 20
Last Checked: Sep 3 at 5:06PM
MLS# 250003971
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.
This 3,504-square-foot commercial property occupies 0.27 acres and is currently operated by the seller as a restaurant and convenience shop. The building was constructed in 1980 with ICFs (Insulated Concrete Forms) and Masonite, along with concrete flooring, natural gas heating, and central air conditioning.
Located in Reno, Nevada, the property has public water and public sewer, with water available at the site. The real estate is offered separately from the operating business, with any business acquisition to be negotiated independently.
Located in Reno, Nevada, the property has public water and public sewer, with water available at the site. The real estate is offered separately from the operating business, with any business acquisition to be negotiated independently.
Key Highlights
- 3,504‑square‑foot building on 0.27 acres
- Currently operates as a restaurant and convenience shop
- MU zoning
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
$50,883
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
3.39%
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%
$1,017,660
$1.0M
Cap Rate 7%
$726,900
$726.9K
Cap Rate 9%
$565,367
$565.4K
Market Conditions
NOI Build-Up for 3,504 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
$73.6K $21.00/SF
− Vacancy
−$5.7K −$1.64/SF
EGI
$67.8K $19.36/SF
− OpEx
−$17.0K −$4.84/SF
NOI
$50.9K $14.52/SF
Area
Reno, NV
Vacancy
7.80%
Lease Rate
$21.00 /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%
$1,017,660
Cap Rate 7%
$726,900
Cap Rate 9%
$565,367
Alternative Uses
Best Use
Specialty Retail
$726.9K
$636.0K – $848.1K
NOI $50,883 @ 7.0% cap · market cap 3.39%
Second Best
Retail
$633.4K
$554.3K – $739.0K
NOI $44,340 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$1.08M
$944.9K – $1.26M
NOI $75,592 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,731
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
Market
Vacancy Rate% for Retail in Reno, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - MU-zoned commercial property with public water and sewer service.
Where is this grocery and convenience store located?
The property is located at 2490 Wrondel Way Reno, NV.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 3,504‑square‑foot building on 0.27 acres; Currently operates as a restaurant and convenience shop; MU zoning
