Mixed-Use Retail and
120 Thoma Street Reno, NV 89501
120 Thoma Street, Reno, NV, 89501
$2,650,000
For Sale
$2,650,000
Multi-tenant building with five retail tenants and four residential apartments, plus off-street parking and prominent exterior signage.
Property Size9,250 SF
Price / SF$286.49
Days on Market863
Property Features for 120 Thoma Street
General Information
- Standard status
- Active
- Size
- 9,250 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1960
Listing agency
Marmot Properties, LLC
(775) 313-1544
Listed by
Batuhan Zadeh · License #BS.145130
(775) 313-1544
Source
Xome
Added: Mar 10, 2024 Updated: Jul 21 at 2:18AM Checked: Jul 21 at 3:10AM
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 Marmot Properties, LLC
Investment Insights
Based on property information with market context.
120 Thoma Street is a mixed-use investment property that combines retail space and residential apartments within one building. The property currently features five retail tenants and four residential units, creating income from both commercial and multifamily components.
The building includes off-street parking and exterior improvements such as a large monument sign and murals surrounding the structure.
For investors or owner-occupants seeking a single asset with multiple income streams, this configuration offers retail and apartment occupancy under one roof, with parking and visible street-facing branding elements already in place.
The building includes off-street parking and exterior improvements such as a large monument sign and murals surrounding the structure.
For investors or owner-occupants seeking a single asset with multiple income streams, this configuration offers retail and apartment occupancy under one roof, with parking and visible street-facing branding elements already in place.
Key Highlights
- Multi‑tenant building with 5 retail tenants and 4 residential apartments under one roof.
- Off‑street parking with 8 parking spaces and alley entrance.
- Flat roof with security lighting and landscaped exterior.
Local Financial Insights For Multifamily LT 5
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 | $205.4k | $22.20 |
| − Vacancy | −$8.8k | −$0.95 |
| EGI | $196.6k | $21.25 |
| − OpEx | −$59.0k | −$6.38 |
| NOI | $137.6k | $14.88 |
9,250 SF · lease $22.20/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.97M
$1.72M – $2.29M
NOI $137,607 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$1.71M
$1.49M – $1.99M
NOI $119,521 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$2.85M
$2.49M – $3.33M
NOI $199,551 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Damone Beauty
Hair Salon
Little Hawk Esthetics
Hair Salon
Enhance Pink Ribbon
Medical Clinic
Moonlit Artistry
Medical Clinic
Endless Ink
Tattoo & Piercing Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Multi-tenant building with five retail tenants and four residential apartments, plus off-street parking and prominent exterior signage.
Where is this quadplex located?
The property is located at 120 Thoma Street Reno, NV.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Multi‑tenant building with 5 retail tenants and 4 residential apartments under one roof.; Off‑street parking with 8 parking spaces and alley entrance.; Flat roof with security lighting and landscaped exterior.
