Downtown Reno Office
604 Lander St Reno, NV 89509
604 Lander St, Reno, NV, 89509
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For Sale
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Two-story office building in Downtown Reno's vibrant submarket.
Property Size3,290 SF
Price / SF$288.75
Days on Market661
Property Features for 604 Lander St
General Information
- Standard status
- Active
- Size
- 3,290 SF
- Property subtype
- Office
Building Details
- Year Built
- 1917
Listing agency
Colliers - Reno, Nevada
(775) 333-6969
Listed by
Melissa Molyneaux · License #NV BS.0144599
Source
Crexi
Added: Sep 30, 2024 Updated: Jul 6 at 7:55AM Checked: Jul 21 at 7:14AM
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, Nevada
Investment Insights
Based on property information with market context.
Located on a corner lot in the Downtown submarket of Reno, Nevada, the property at 604 Lander Street is a two-story building with a fully finished basement. Constructed in 1917, the building features a brick exterior and numerous windows that provide natural light. The location is near courthouses, the financial district, entertainment venues, restaurants, retail shops, and housing. The property includes landscaping and is suited for professional office use. The building has a size of 3290 square feet.
Key Highlights
- Prime Downtown Reno location near courthouses, financial district, entertainment, restaurants, retail, and housing.
- Charming two‑story building with a fully finished basement.
- Abundance of windows providing natural light.
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 | $95.1k | $28.92 |
| − Vacancy | −$17.6k | −$5.35 |
| EGI | $77.5k | $23.57 |
| − OpEx | −$19.4k | −$5.89 |
| NOI | $58.2k | $17.68 |
3,290 SF · lease $28.92/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$830.8K
$727.0K – $969.3K
NOI $58,158 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$887.2K – $1.18M
NOI $70,976 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Two-story office building in Downtown Reno's vibrant submarket.
Where is this office building located?
The property is located at 604 Lander St Reno, NV.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Prime Downtown Reno location near courthouses, financial district, entertainment, restaurants, retail, and housing.; Charming two‑story building with a fully finished basement.; Abundance of windows providing natural light.
