Luxe Storage
For Sale
$183,900
25 Panther Drive lot E174, Reno, NV 89506
Commercial Sale, Reno, NV
Property Size750 SF
Lot Size0.01 Acres
Price / SF$245.20
Days on Market555
Property Features for 25 Panther Drive lot E174
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MS
Security features
Security Lighting
Fencing
Fenced
Lot features
Landscaped
Directions
North Virginia
Standard status
Active
APN
570-294-32
Size
750 SF
Lot size
0.01 Acres
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Amenities
gated community
sewer dump
wash bay
common bathrooms
showers
trash service
owners association
video surveillance
Building Details
Year built
2024
Floors in Building
1
Number of units
168
Building materials
Metal Siding, Steel Frame
Roof type
Metal
Listing Agency:
LPT Realty, LLC
(775) 544-1328
Listed By:
Kerry Herdt · License #BS.146281
(925) 321-8042
Added: Feb 19, 2025
Changed: Aug 20
Last Checked: Aug 28 at 8:06PM
MLS# 250002427
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 individual commercial storage condo is designed for boats, RVs, vehicles, and similar personal or commercial storage needs. The unit measures 750 square feet within a 15' x 50' configuration and is currently under construction. The Luxe specification includes ambient temperature control, 30 Amp service, LED lighting, and insulated garage doors.
The property is located in a gated community with video and recording devices on site. Shared amenities include a sewer dump, wash bay, bathrooms, showers, and trash service. Public water and public sewer are available, and the site has metal siding, a steel frame, metal roofing, and fencing. Each unit is sold individually as a commercial condominium and is managed by an owners association. Zoning is MS.
The property is located in a gated community with video and recording devices on site. Shared amenities include a sewer dump, wash bay, bathrooms, showers, and trash service. Public water and public sewer are available, and the site has metal siding, a steel frame, metal roofing, and fencing. Each unit is sold individually as a commercial condominium and is managed by an owners association. Zoning is MS.
Key Highlights
- 750‑square‑foot Luxe storage condo in a 15' x 50' configuration
- Ambient temperature control with 30 Amp service
- Gated community with video and recording devices on site
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
$7,867
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
4.28%
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%
$157,340
$157.3K
Cap Rate 7%
$112,386
$112.4K
Cap Rate 9%
$87,411
$87.4K
Market Conditions
NOI Build-Up for 750 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
$12.2K $16.20/SF
− Vacancy
−$911 −$1.22/SF
EGI
$11.2K $14.99/SF
− OpEx
−$3.4K −$4.50/SF
NOI
$7.9K $10.49/SF
Area
Reno, NV
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$157,340
Cap Rate 7%
$112,386
Cap Rate 9%
$87,411
Alternative Uses
Best Use
Self Storage
$112.4K
$98.3K – $131.1K
NOI $7,867 @ 7.0% cap · market cap 4.28%
Second Best
Warehouse
$73.8K
$64.5K – $86.1K
NOI $5,163 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$231.1K
$202.3K – $269.7K
NOI $16,180 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Explore this area
Business Placement
Demographics for 89506, NV
43,321
Population
17,015
Households
2.5
Avg Household Size
35
Median Age
20%
College-Educated
86%
High-School Grad
91.1 sq mi
ZIP Area
476
Density / Sq Mi
$86,557
Median Household Income
$42,481
Median Earnings
$1,733
Median Rent
$377,500
Median Home Value
Market
Vacancy Rate% for Industrial in Reno, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Individual commercial condo with gated access, ambient temperature control, and shared wash and sanitation facilities.
Where is this self storage facility located?
The property is located at 25 Panther Drive lot E174 Reno, NV.
What is the asking price?
The asking price for this property is $183,900.
What are key features of this property?
This property features: 750‑square‑foot Luxe storage condo in a 15' x 50' configuration; Ambient temperature control with 30 Amp service; Gated community with video and recording devices on site
