Class A Office
1 E Liberty St, Reno, NV 89501
For Sale
$26,995,000
Recent lobby and chiller upgrades support a well-maintained, highly occupied office property.
Property Size84,151 SF
Price / SF$320.79
Days on Market53
Property Features for 1 E Liberty St
General Information
Standard status
Size
Class
Property subtype
Occupancy
Building Details
Year Renovated
Buildings
Stories
Building Size
Tenancy
Listing Agency:
Reno
Listed By:
Melissa Molyneaux · License #NV-BS.0144599.LLC
(775) 823-4674
Source:
Colliers
Added: Sep 16
Changed: Oct 25
Last Checked: Nov 6 at 5:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Reno
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The six-story U.S. Bank Building is a Class A office property comprising 84,151 square feet. The building is 97.4% leased to a diversified group of established tenants and includes a renovated lobby and new chiller system completed in 2022. Abundant parking and ongoing physical improvements support the property’s office configuration and day-to-day functionality.
Located in Downtown Reno, the property offers walkable access to retail, dining, entertainment, and hospitality amenities. Its setting within Northern Nevada’s primary business district places the building in an established commercial environment with convenient access to surrounding downtown services.
Located in Downtown Reno, the property offers walkable access to retail, dining, entertainment, and hospitality amenities. Its setting within Northern Nevada’s primary business district places the building in an established commercial environment with convenient access to surrounding downtown services.
Key Highlights
- 84,151‑square‑foot, six‑story Class A office building
- 97.4% leased to a diverse roster of established tenants
- Renovated lobby and new chiller system completed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,487,567
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$29,751,340
$29.8M
Cap Rate 7%
$21,250,957
$21.3M
Cap Rate 9%
$16,528,522
$16.5M
Market Conditions
NOI Build-Up for 84,151 SF
Gross rent
$2.43M $28.92/SF
− Vacancy
−$450.2K −$5.35/SF
EGI
$1.98M $23.57/SF
− OpEx
−$495.9K −$5.89/SF
NOI
$1.49M $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 Rate 5%
$29,751,340
Cap Rate 7%
$21,250,957
Cap Rate 9%
$16,528,522
Alternative Uses
Best Use
Office B
$21.25M
$18.59M – $24.79M
NOI $1,487,567 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$25.93M
$22.69M – $30.26M
NOI $1,815,400 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
97.4%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 89501, NV
3,948
Population
2,975
Households
1.3
Avg Household Size
50
Median Age
40%
College-Educated
91%
High-School Grad
0.6 sq mi
ZIP Area
6,580
Density / Sq Mi
$32,990
Median Household Income
$28,774
Median Earnings
$1,089
Median Rent
$379,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office buildings in Reno, NV
Properties on Market for Office buildings in Reno
Vacancy Rate% for Office in Reno, NV
Frequently Asked Questions
What type of property is this?
Office building - Recent lobby and chiller upgrades support a well-maintained, highly occupied office property.
Where is this office building located?
The property is located at 1 E Liberty St Reno, NV.
What is the asking price?
The asking price for this property is $26,995,000.
What are key features of this property?
This property features: 84,151‑square‑foot, six‑story Class A office building; 97.4% leased to a diverse roster of established tenants; Renovated lobby and new chiller system completed in 2022
