Single-Story Professional Office
For Sale
$1,187,315
9500 Prototype Ct, Reno, NV 89521
Single-story office building in Prototype Court Park, suited for professional tenants seeking a dedicated work environment.
Property Size2,861 SF
Price / SF$415
Days on Market51
Property Features for 9500 Prototype Ct
General Information
Standard status
Active
Size
2,861 SF
Property subtype
Office
Building Details
Year Built
1998
Stories
1
Listing Agency:
Dickson Commercial Group
(775) 624-3957
Listed By:
Travis Hansen · License #NV #Lic# S.170076 / PM 166389
Source:
Corfac
Added: Jun 17
Changed: Jul 10
Last Checked: Jul 16 at 5:19AM
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 Dickson Commercial Group
Investment Insights
Based on property information with market context.
The offering is a ±2,861 SF, single-story professional office building at 9500 Prototype Ct. The property is presented for sale or lease and is designed to support office use within a dedicated, purpose-built layout.
The building is located within the Prototype Court Park development in Reno’s South Meadows submarket. This setting places the property among other professional and business-oriented uses tied to the park environment.
For tenants, the single-story configuration can support straightforward access and day-to-day operations for office-focused teams. For buyers, the asset’s dedicated professional office form provides a direct path for an owner-operator or an investor seeking an office property within a defined office park context. Please note that additional details on interior condition, unit mix, and specific lease terms are not provided in the available information.
The building is located within the Prototype Court Park development in Reno’s South Meadows submarket. This setting places the property among other professional and business-oriented uses tied to the park environment.
For tenants, the single-story configuration can support straightforward access and day-to-day operations for office-focused teams. For buyers, the asset’s dedicated professional office form provides a direct path for an owner-operator or an investor seeking an office property within a defined office park context. Please note that additional details on interior condition, unit mix, and specific lease terms are not provided in the available information.
Key Highlights
- 2,861 SF single‑story professional office building built in 1998
- Located in Prototype Court Park Development within Reno’s South Meadows submarket
- Offered for sale or lease at 9500 Prototype Ct
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
$50,575
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
4.26%
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%
$1,011,500
$1.0M
Cap Rate 7%
$722,500
$722.5K
Cap Rate 9%
$561,944
$561.9K
Market Conditions
NOI Build-Up for 2,861 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
$82.7K $28.92/SF
− Vacancy
−$15.3K −$5.35/SF
EGI
$67.4K $23.57/SF
− OpEx
−$16.9K −$5.89/SF
NOI
$50.6K $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%
$1,011,500
Cap Rate 7%
$722,500
Cap Rate 9%
$561,944
Alternative Uses
Best Use
Office B
$722.5K
$632.2K – $842.9K
NOI $50,575 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$881.7K
$771.5K – $1.03M
NOI $61,721 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,316
Businesses Nearby
Explore this area
Business Placement
Demographics for 89521, NV
39,119
Population
16,789
Households
2.3
Avg Household Size
41
Median Age
50%
College-Educated
97%
High-School Grad
93.0 sq mi
ZIP Area
421
Density / Sq Mi
$125,505
Median Household Income
$61,266
Median Earnings
$2,178
Median Rent
$629,900
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?
Office building - Single-story office building in Prototype Court Park, suited for professional tenants seeking a dedicated work environment.
Where is this office building located?
The property is located at 9500 Prototype Ct Reno, NV.
What is the asking price?
The asking price for this property is $1,187,315.
What are key features of this property?
This property features: 2,861 SF single‑story professional office building built in 1998; Located in Prototype Court Park Development within Reno’s South Meadows submarket; Offered for sale or lease at 9500 Prototype Ct
