Historic Mixed-Use
New
For Sale
$1,250,000
1105 2ND, Reno, NV 89503
General Commercial zoning supports a combination of residential, office, retail, employment, and service uses.
Property Size3,700 SF
Price / SF$337.84
Days on Market7
Property Features for 1105 2ND
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Commercial
Zoning
General Commercial
Additional Details
Opportunity Zone
No
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1935
Buildings
2
Listing Agency:
Reno Realty
Listed By:
Gregory Anastassatos
(775) 688-4000
Source:
Ferrari-lund
Added: Jul 31
Changed: Aug 5
Last Checked: Aug 6 at 5:09AM
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 Realty
Investment Insights
Based on property information with market context.
Built in 1935, this 3,700-square-foot mixed-use property includes a main floor, basement, second-floor residential units, and a detached rear garage. The main level and basement were most recently used for professional office and storage functions. Improvements include partially updated electrical, Ethernet wiring, a dedicated server closet, hardwired perimeter security cameras, and upgraded 200-amp electrical service. The second floor contains a recently updated studio and a partially updated one-bedroom unit. The studio, main floor, and basement are vacant, while the one-bedroom unit is leased through the end of the year. The detached three-car garage is currently used for storage.
Located at the corner of West 2nd and Gardner Streets near Downtown Reno, the property is close to the Truckee River corridor, medical services, restaurants, employment centers, and regional transportation access. General Commercial zoning supports residential, office, retail, commercial, employment, and service-oriented uses. Zoning standards may permit residential density up to 45 dwelling units per acre and building heights up to 65 feet.
Located at the corner of West 2nd and Gardner Streets near Downtown Reno, the property is close to the Truckee River corridor, medical services, restaurants, employment centers, and regional transportation access. General Commercial zoning supports residential, office, retail, commercial, employment, and service-oriented uses. Zoning standards may permit residential density up to 45 dwelling units per acre and building heights up to 65 feet.
Key Highlights
- 3,700‑square‑foot mixed‑use property built in 1935
- Second floor includes a recently updated studio and a partially updated one‑bedroom unit
- Detached three‑car garage provides additional storage
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
$65,406
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
5.23%
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%
$1,308,120
$1.3M
Cap Rate 7%
$934,371
$934.4K
Cap Rate 9%
$726,733
$726.7K
Market Conditions
NOI Build-Up for 3,700 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
$107.0K $28.92/SF
− Vacancy
−$19.8K −$5.35/SF
EGI
$87.2K $23.57/SF
− OpEx
−$21.8K −$5.89/SF
NOI
$65.4K $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%
$1,308,120
Cap Rate 7%
$934,371
Cap Rate 9%
$726,733
Alternative Uses
Best Use
Office B
$934.4K
$817.6K – $1.09M
NOI $65,406 @ 7.0% cap · market cap 5.23%
Second Best
Mixed Use
$771.4K
$674.9K – $899.9K
NOI $53,995 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$1.14M
$997.8K – $1.33M
NOI $79,821 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,393
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
Market
Vacancy Rate% for Office in Reno, NV
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - General Commercial zoning supports a combination of residential, office, retail, employment, and service uses.
Where is this mixed-use property located?
The property is located at 1105 2ND Reno, NV.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,700‑square‑foot mixed‑use property built in 1935; Second floor includes a recently updated studio and a partially updated one‑bedroom unit; Detached three‑car garage provides additional storage
