Office Building with Detached
New
For Sale
$2,245,000
1150 Corporate Blvd, Reno, NV 89502
A single-tenant office investment carries a double-net lease through 2034, plus one five-year renewal option.
Property Size7,592 SF
Lot Size1.03 Acres
Price / SF$295.71
Days on Market3
Property Features for 1150 Corporate Blvd
General Information
Standard status
Active
Size
7,592 SF
Total Parking Spaces
60
Lot size
1.03 Acres
Property subtype
Single-Tenant Office
Lease Type
NN
Financials
Asking Price
$2,245,000
Cap Rate
5.35%
Additional Details
Road Access
Yes
Office Units
1
Amenities
- 100% leased to Bowman Consulting Group, a $1B Company
- Below Market Rents of $1.38/SF Double-Net.
- 60 On-Site Parking Spaces
Building Details
Building Size
7,592 SF
Year Built
1984
Buildings
2
Construction
masonry
Tenancy
Single
Owner Occupied
No
Listing Agency:
Marcus & Millichap - Reno
Listed By:
Bret Nicholson · License #License(s): NV: S.0183859
(775) 348-5234
Source:
Marcusmillichap
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:41AM
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 Marcus & Millichap - Reno
Investment Insights
Based on property information with market context.
The property includes a 7,592-square-foot masonry office building and a separate 700-square-foot masonry garage. Bowman Consulting Group Ltd. occupies the building under a double-net lease with an initial term ending February 1, 2034, and one additional five-year renewal option. The company acquired CFA, Inc., which began operating at this site in 1984, in 2023.
The 1.03-acre site provides 60 parking spaces apart from the garage. Located east of Reno Tahoe International Airport, the property has immediate access to S McCarran Boulevard and Mill Street, with connections to Reno, Sparks, and surrounding areas.
The 1.03-acre site provides 60 parking spaces apart from the garage. Located east of Reno Tahoe International Airport, the property has immediate access to S McCarran Boulevard and Mill Street, with connections to Reno, Sparks, and surrounding areas.
Key Highlights
- 7,592‑square‑foot masonry office building
- Detached 700‑square‑foot masonry garage
- 1.03‑acre site with 60 on‑site parking spaces, separate from the garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,206
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,684,120
$2.7M
Cap Rate 7%
$1,917,229
$1.9M
Cap Rate 9%
$1,491,178
$1.5M
Market Conditions
NOI Build-Up for 7,592 SF
Gross rent
$219.6K $28.92/SF
− Vacancy
−$40.6K −$5.35/SF
EGI
$178.9K $23.57/SF
− OpEx
−$44.7K −$5.89/SF
NOI
$134.2K $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 Rate 5%
$2,684,120
Cap Rate 7%
$1,917,229
Cap Rate 9%
$1,491,178
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.24M
NOI $134,206 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,783 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Reno, NV
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Frequently Asked Questions
What type of property is this?
Office building - A single-tenant office investment carries a double-net lease through 2034, plus one five-year renewal option.
Where is this office building located?
The property is located at 1150 Corporate Blvd Reno, NV.
What is the asking price?
The asking price for this property is $2,245,000.
What are key features of this property?
This property features: 7,592‑square‑foot masonry office building; Detached 700‑square‑foot masonry garage; 1.03‑acre site with 60 on‑site parking spaces, separate from the garage
