NNN Retail
New
For Sale
$2,632,000
1250 W 7th Street, Reno, NV 89503
Corporate-guaranteed ground lease with extended term and no landlord responsibilities supports a passive ownership structure.
Property Size9,516 SF
Price / SF$276.59
Days on Market1
Property Features for 1250 W 7th Street
General Information
Standard status
Active
Size
9,516 SF
Property subtype
Retail
Zoning
GC: General Commercial
Building Details
Building Size
9,516 SF
Year Built
2021
Tenancy
Single
Listing Agency:
SRS Real Estate Partners - Global Company
Listed By:
Patrick Luther · License #01912215
(480) 221-4221
Source:
Srsre
Added: Sep 12
Last Checked: Sep 12 at 2:51PM
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 SRS Real Estate Partners - Global Company
Investment Insights
Based on property information with market context.
This 9,516-square-foot retail property was built in 2021 and is subject to an absolute NNN ground lease. CVS Pharmacy remains obligated under the lease despite the store having ceased operations, while Dollar Tree currently occupies the property under a sublease and is completing its buildout. The lease is guaranteed by CVS Health Corporation, with CVS retaining responsibility for rent payable to the landlord.
The primary lease term has approximately 14 years remaining and includes eight five-year renewal options. The arrangement assigns landlord responsibilities to the tenant, creating a management-light ownership structure. The property is zoned GC: General Commercial and is located at 1250 W. 7th Street in Reno, Nevada.
The primary lease term has approximately 14 years remaining and includes eight five-year renewal options. The arrangement assigns landlord responsibilities to the tenant, creating a management-light ownership structure. The property is zoned GC: General Commercial and is located at 1250 W. 7th Street in Reno, Nevada.
Key Highlights
- 9,516‑square‑foot retail property built in 2021
- Absolute NNN ground lease with approximately 14 years remaining
- Eight five‑year renewal options
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
$120,417
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
4.58%
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%
$2,408,340
$2.4M
Cap Rate 7%
$1,720,243
$1.7M
Cap Rate 9%
$1,337,967
$1.3M
Market Conditions
NOI Build-Up for 9,516 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
$188.4K $19.80/SF
− Vacancy
−$16.4K −$1.72/SF
EGI
$172.0K $18.08/SF
− OpEx
−$51.6K −$5.42/SF
NOI
$120.4K $12.65/SF
Area
Reno, NV
Vacancy
8.70%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,408,340
Cap Rate 7%
$1,720,243
Cap Rate 9%
$1,337,967
Alternative Uses
Best Use
Retail
$1.72M
$1.51M – $2.01M
NOI $120,417 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.93M
$2.57M – $3.42M
NOI $205,290 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
938
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Reno, NV
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Frequently Asked Questions
What type of property is this?
NNN property - Corporate-guaranteed ground lease with extended term and no landlord responsibilities supports a passive ownership structure.
Where is this nnn property located?
The property is located at 1250 W 7th Street Reno, NV.
What is the asking price?
The asking price for this property is $2,632,000.
What are key features of this property?
This property features: 9,516‑square‑foot retail property built in 2021; Absolute NNN ground lease with approximately 14 years remaining; Eight five‑year renewal options
