Redevelopment Opportunity Near
For Sale
$899,000
400 Minerva Lane, Reno, NV 89503
COMMERCIAL - Reno, NV
Property Size2,939 SF
Lot Size0.44 Acres
Price / SF$305.89
Days on Market297
Property Features for 400 Minerva Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MF-30
Parking
2
Window features
Single Pane Window(s)
Subdivision
Ward`S Addition
Lot features
Landscaped
Directions
University Terrace to Ralston to Minerva
Standard status
Active
APN
007-201-22 / 007-201-23
Size
2,939 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Annual Amount
3221
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1949
Floors in Building
2
Number of units
3
Flooring type
Varies
Building materials
Block, Brick, Concrete, Frame, Wood Siding
Roof type
Composition, Shingle
Listing Agency:
Chase International-Damonte
(775) 850-5900
Listed By:
Corry Castaneda · License #B.1001732
(775) 745-2194
Added: Oct 7, 2025
Changed: Jul 2
Last Checked: Jul 30 at 8:06PM
MLS# 250057352
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.
Located near the University of Nevada, Reno, this dual-parcel property presents a redevelopment opportunity. The site spans approximately 0.435 acres, equivalent to roughly 18,945 square feet, across two contiguous parcels. It features an existing structure of approximately 2,939 square feet with 3 units, including a duplex main house with two 2-bed/1-bath units and a separate detached 1-bed/1-bath unit. The property is zoned MF-30 within the West University Neighborhood Plan Overlay, making it suitable for multi-family development. Under the current zoning, developers can build up to 13 units, with density bonuses available. Up to 23 units are possible for smaller unit designs (under 800 sq.ft.) with an 80 percent bonus density. Up to 18 units are possible for mid-sized layouts (under 1,000 sq.ft.) with a 45 percent bonus density. Up to 17 units are possible for larger formats (under 1,200 sq.ft.) with a 35 percent bonus density. The property's location provides walkable access to UNR, restaurants, and downtown amenities, offering flexibility for student housing, urban apartments, or a mixed-use project.
Key Highlights
- Prime redevelopment opportunity near UNR and downtown Reno.
- Dual‑parcel property totaling +/-0.435 acres zoned MF‑30, ideal for multi‑family development.
- Existing +/-2,939 sq.ft. structure with 3 units provides immediate rental income potential.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,556
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Dual-parcel property near UNR ideal for multi-family development.
Where is this residential land & home lot located?
The property is located at 400 Minerva Lane Reno, NV.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime redevelopment opportunity near UNR and downtown Reno.; Dual‑parcel property totaling +/-0.435 acres zoned MF‑30, ideal for multi‑family development.; Existing +/-2,939 sq.ft. structure with 3 units provides immediate rental income potential.
