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    1049 Virginia St Reno, NV 89502

    For Sale
    $1,750,000

    Iconic Reno business, high-traffic location.

    Property size:
    5,500 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional commercial property, located at 1049 S Virginia Street in Reno, Nevada's vibrant Midtown District, presents a truly unique investment opportunity. The 5,500 square foot building sits on a 0.16-acre lot and is currently operating as The Melting Pot World Emporium & Smoke Shop. This established business boasts a loyal customer base cultivated over many years, thanks to its distinctive blend of fashion, accessories, and smoking products. The property's prime location within the dynamic Midtown area ensures high visibility and foot traffic, making it an ideal investment for a savvy entrepreneur looking to capitalize on a thriving commercial district. The building itself offers ample space for a variety of commercial uses, allowing for potential expansion or adaptation to suit the needs of a new owner. The asking price for this remarkable property is $1,750,000. This represents a rare chance to acquire a well-established business and a valuable piece of Reno real estate in a highly sought-after location. The property's history as a cultural and commercial cornerstone of the Midtown District adds to its inherent value and potential for future growth. Serious inquiries are encouraged to explore this exceptional opportunity further. The property is ready for a new owner to continue its legacy or to reinvent its purpose within the bustling Reno community.

    Property Features for 1049 Virginia St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,500 SF
    Lot Size
    6,970 SF

    Building Details

    Year Built
    1931
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Melting Pot World ... Clothing Store Sierra Valley Cbd Store

    Suggested Use

    Realty agency Restaurant Dental Office Law Firm Spa & Massage Hair Salon Building Supply Clothing Store Nail Salon Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8075
    Latitude
    39.51388

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    FAQs

    What type of property is this?
    Commercial real estate - Iconic Reno business, high-traffic location.
    Where is this commercial real estate located?
    The property is located at 1049 Virginia St Reno, NV.
    What is the asking price?
    The asking price for this property is $1,750,000.
    (775) 850-5900
    Request Owner's contact information
    1049 Virginia St Reno, NV 89502
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    Reno, NV 89502
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1049 Virginia St Reno, NV 89502
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