Professional Office with Studio
For Sale
$798,509
3045 Lakeside Drive, Reno, NV 89509
COMMERCIAL - Reno, NV
Property Size3,090 SF
Lot Size0.27 Acres
Price / SF$258.42
Days on Market15
Property Features for 3045 Lakeside Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
PO
Parking
8
Parking features
Parking Lot
Security features
Security Lighting
Window features
Window Coverings, Vinyl Frames, Single Pane Window(s), Double Pane Windows, ENERGY STAR Qualified WIndows, Blinds
Subdivision
Brinkby
Lot features
Corner Lot, Landscaped, Level
Directions
Moana to Lakeside
Standard status
Active
APN
019-303-09
Size
3,090 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
3700
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard, Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Floors in Building
2
Flooring type
Concrete, Wood, Laminate, Carpet
Building materials
Brick Veneer, Frame, Stone, Wood Siding
Roof type
Tar/Gravel, Composition, Asphalt, Shingle, Flat
Additional Structures
Guest House
Listing Agency:
RE/MAX Professionals-Reno · RE/MAX International
(775) 345-3070
Listed By:
Sean Burke · License #S.189753
(775) 741-7269
Added: Jul 23
Changed: Jul 27
Last Checked: Aug 6 at 7:06PM
MLS# 260009447
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 PO-zoned property offers a 2,563-square-foot professional office building plus a separate 527-square-foot studio apartment on a single parcel. The main building has been operated as a chiropractic practice and is described as well suited for continued medical, wellness, or professional office use, with flexibility upstairs for additional treatment or office rooms. The detached studio provides independent space that can support owner or staff use, be rented, or function as a second workspace apart from the main building.
The property is located near Virginia Lake, with the walking loop described as just minutes away, and sits among established professional offices, service businesses, and multifamily housing. Off-street parking is provided in an asphalt lot that has been freshly refinished.
The business operating in the main building is not included in the sale, allowing the space to be delivered for a new owner-user.
The property is located near Virginia Lake, with the walking loop described as just minutes away, and sits among established professional offices, service businesses, and multifamily housing. Off-street parking is provided in an asphalt lot that has been freshly refinished.
The business operating in the main building is not included in the sale, allowing the space to be delivered for a new owner-user.
Key Highlights
- 2,563 SF professional office building plus a separate 527 SF detached studio apartment on one PO‑zoned parcel
- Main building currently operated as a chiropractic practice and suited for continued medical, wellness, or professional office use
- Asphalt parking lot has been freshly refinished with substantial off‑street parking for staff and clients
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
$54,623
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
6.84%
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%
$1,092,460
$1.1M
Cap Rate 7%
$780,329
$780.3K
Cap Rate 9%
$606,922
$606.9K
Market Conditions
NOI Build-Up for 3,090 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
$89.4K $28.92/SF
− Vacancy
−$16.5K −$5.35/SF
EGI
$72.8K $23.57/SF
− OpEx
−$18.2K −$5.89/SF
NOI
$54.6K $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%
$1,092,460
Cap Rate 7%
$780,329
Cap Rate 9%
$606,922
Alternative Uses
Best Use
Office B
$780.3K
$682.8K – $910.4K
NOI $54,623 @ 7.0% cap · market cap 6.84%
Second Best
Healthcare Medical
$685.7K
$600.0K – $799.9K
NOI $47,996 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$952.3K
$833.3K – $1.11M
NOI $66,661 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,635
Businesses Nearby
Explore this area
Business Placement
Demographics for 89509, NV
34,817
Population
18,290
Households
1.9
Avg Household Size
44
Median Age
50%
College-Educated
95%
High-School Grad
8.8 sq mi
ZIP Area
3,956
Density / Sq Mi
$81,751
Median Household Income
$47,546
Median Earnings
$1,443
Median Rent
$670,700
Median Home Value
Market
Vacancy Rate% for Office 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?
Live-work space - PO-zoned professional office building with an additional detached studio apartment on one parcel.
Where is this live-work space located?
The property is located at 3045 Lakeside Drive Reno, NV.
What is the asking price?
The asking price for this property is $798,509.
What are key features of this property?
This property features: 2,563 SF professional office building plus a separate 527 SF detached studio apartment on one PO‑zoned parcel; Main building currently operated as a chiropractic practice and suited for continued medical, wellness, or professional office use; Asphalt parking lot has been freshly refinished with substantial off‑street parking for staff and clients
