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Remodeled Reno Office Building

1121 University Ter Reno, NV

1121 University Ter, Reno, NV, 00000
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Completely remodeled office building with ample parking and secured storage.

Property Size2,289 SF
Lot Size0.42 Acres
Price / SF$546.09
AddedSep 8, 2025
Days on Market310
Last RefreshMay 20 at 8:12 pm

Property Features for 1121 University Ter

General Information

Standard status
Active
Size
2,289 SF
Lot size
0.42 Acres
Property subtype
OFFICE

Listing office Colliers | Reno

Listing date Sep 8, 2025

Source Moodyscre

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 Colliers | Reno


Investment Insights

Based on property information with market context.

Located off Keystone Avenue in Northwest Reno, this property offers access to I-80, residential areas, the University of Nevada, and downtown Reno. The structure, built in 1949, underwent a complete remodel in 2020 by the current owner. Renovations included transforming the space into a design studio and office for a custom construction company, along with a new metal roof, new heating and plumbing, a new garage door, a new retaining wall in the rear, a new security gate for the rear of the property, a full interior renovation, and an addition to the property. The building has 2,289 square feet and sits on a 0.42-acre lot. Zoned Professional Office (PO), the property features ample parking with 6+ spaces in the front, as well as a secured rear area for additional parking or storage. Additionally, there is a finished 420 square foot garage and a custom outdoor patio area.

Key Highlights

  • Completely remodeled in 2020 with extensive renovations including a new metal roof, new heating and plumbing, new garage door, new retaining wall, new security gate, full interior renovation and an addition.
  • Excellent location off Keystone Avenue in Northwest Reno with outstanding access to I‑80, residential housing, the University of Nevada, and downtown Reno.
  • Zoned Professional Office (PO) offering versatile usage possibilities.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $66.2k $28.92
− Vacancy −$12.2k −$5.35
EGI $54.0k $23.57
− OpEx −$13.5k −$5.89
NOI $40.5k $17.68
2,289 SF · lease $28.92/SF/yr · vacancy 18.50% · expense 25.00%

Alternative Uses

Best Use
Office B
$578.0K
$505.8K – $674.4K (±1% cap)
NOI $40,463 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$705.4K
$617.3K – $823.0K (±1% cap)
NOI $49,381 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Bridges Construction Reno Renovation Specialist

Suggested Use

HVAC Service Real Estate Agency Building Supply Furniture & Home Goods Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Skin Care Clinic Electrical Service Veterinary Clinic Locksmith

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

FAQs

What type of property is this?
Office building - Completely remodeled office building with ample parking and secured storage.
Where is this office building located?
The property is located at 1121 University Ter 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: Completely remodeled in 2020 with extensive renovations including a new metal roof, new heating and plumbing, new garage door, new retaining wall, new security gate, full interior renovation and an addition.; Excellent location off Keystone Avenue in Northwest Reno with outstanding access to I‑80, residential housing, the University of Nevada, and downtown Reno.; Zoned Professional Office (PO) offering versatile usage possibilities.
Contact an agent
(775) 762-7990 Call to check price and availability
More about this property
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