Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    N Wells Ave Reno, NV 89502

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land with existing ground lease and income potential.

    Lot size:
    10.77 Acres

    Property Features for N Wells Ave

    General Information

    Lot size
    10.77 Acres

    We can help!

    Listing Contact
    Dereck Barrett
    Dereck Barrett
    Source: Moodyscre

    Listing Agency: Avison Young | Reno Listing Agent: Dereck Barrett

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land with Ground Lease Income

    This property includes a ground lease for Reno Rendering, with approximately 5 years remaining on the lease term. The lease is structured as a triple net lease, generating an annual rent of $96,000. The lease agreement does not include any options for renewal, but it does provide a right of first refusal. The offering price includes four houses located on Winston Drive, which are included for the purpose of providing access to the property.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.802759
    Latitude
    39.52794

    Nearby Similar for Sale

    • $800,000
      100 SF

      Reno Car Wash Investment Opportunity

      Well-maintained 4-bay car wash in high-traffic Reno location.
      2125 Sutro St, Reno, NV 89512
      View Details
    • $369,000
      903 SF

      Reno Commercial Space For Sale

      903 SF commercial space in Reno, NV. Renovation opportunity.
      733 S Wells Ave, Reno, NV 89502
      View Details
    • New
      $1,150,000
      2,785 SF

      Mixed-Use Building in Midtown Reno

      Versatile mixed-use property in Midtown Reno with development potential.
      235 W Pueblo St, Reno, NV 89509
      View Details
    • $525,000
      2,152 SF

      Midtown Reno Commercial Opportunity

      Charming remodeled building in Midtown Reno with parking.
      463 N/W Cor Of Wl And Moran St, Reno, NV 89502
      View Details
    • $950,000
      2,340 SF

      Versatile Commercial Property on Acre

      General Commercial property with residential home and five garage bays.
      13905 Old Virginia Rd, Reno, NV 89521
      View Details
    • New
      $725,000
      2,185 SF

      Single-Story Triplex in Reno

      Rare single-story triplex with investment potential in Reno, Nevada.
      10005 Sagewood Dr, Reno, NV 89506
      View Details
    • $1,500,000
      3,504 SF

      High-Visibility Reno Retail Facility

      Profitable Reno retail facility with high visibility and foot traffic.
      2490 Wrondel Way, Reno, NV 89502
      View Details
    • $2,200,000
      5,672 SF

      Reno Strip Center with Market

      Well-maintained Reno strip center with long-term tenants and market.
      1870 Vassar St, Reno, NV 89510
      View Details
    • New
      $4,500,000
      4,900 SF

      Midtown Reno Development Opportunity

      Mixed-use development property in Reno's Midtown district.
      1496 S Virginia St, Reno, NV 89502
      View Details
    • New
      $990,000
      4,094 SF

      Updated Multifamily in Northwest Reno

      Six-unit multifamily property with updated interiors in a prime location.
      1385 W 6Th St, Reno, NV 89503
      View Details
    • $183,900
      750 SF

      Storage Condo For Sale, Reno

      Commercial condo perfect for personal use or savvy investors.
      25 Panther Dr, Reno, NV 89506
      View Details
    • New
      $925,000
      2,127 SF

      Old Southwest Reno Duplex

      Rare duplex in Reno's desirable Old Southwest neighborhood.
      596 California Ave, Reno, NV 89509
      View Details

    FAQs

    What type of property is this?
    Land - Land with existing ground lease and income potential.
    Where is this land located?
    The property is located at N Wells Ave Reno, NV.
    What are key features of this property?
    This property features: - Price includes 4 houses on Winston Dr. for access purposes.; - Ground lease with right of first refusal included.; - Annual rent of $96,000.
    (775) 332-2800 Call to check price and availability
    Request Owner's contact information
    N Wells Ave Reno, NV 89502
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    N Wells Ave
    Reno, NV 89502
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    N Wells Ave Reno, NV 89502
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dereck Barrett
    Dereck Barrett
    Real Estate License ID: NV 0187252
    (775) 332-2800 (775) 343-6804 (775) 332-7316
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!