Former Hotel with
140 Court St, Reno, NV 89501
For Sale
Contact for pricing
93-room former hotel with kitchenettes and indoor pool.
Property Size55,471 SF
Price / SF$108.16
Days on Market250
Property Features for 140 Court St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Investment Type
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Listing Agency:
ArchCrest Commercial Partners LLC
Listed By:
Todd Collins · License NV BS.53093.PLLC
Source:
Crexi
Added: Mar 10
Changed: Nov 11
Last Checked: Nov 12 at 8:21AM
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 ArchCrest Commercial Partners LLC
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Investment Insights
Based on property information with market context.
The former Legacy Vacation Resorts – Reno property is a 93-room former hotel property. All 93 rooms include kitchenettes. The property, previously a timeshare facility that closed in May 2025, offers an indoor pool, sauna, two elevators, three separate parking garage areas, one commercial suite measuring approximately 1,200 square feet, two separate front desk office areas, a common area deck on the second floor, and a manager's office area. The sale includes all shares owned by the association and the legal rights of the declarant to foreclosure on the shares currently in default. The property size is 55,471 square feet.
Key Highlights
- 93 rooms, each featuring convenient kitchenettes.
- Substantial discount to replacement cost, offering exceptional value.
- Enjoy the indoor pool and sauna for relaxation and recreation.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$317,070
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,341,400
$6.3M
Cap Rate 7%
$4,529,571
$4.5M
Cap Rate 9%
$3,523,000
$3.5M
Market Conditions
NOI Build-Up for 55,471 SF
Gross rent
$765.5K $13.80/SF
− Vacancy
−$98.0K −$1.77/SF
EGI
$667.5K $12.03/SF
− OpEx
−$350.4K −$6.32/SF
NOI
$317.1K $5.72/SF
Area
Reno, NV
Vacancy
12.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,341,400
Cap Rate 7%
$4,529,571
Cap Rate 9%
$3,523,000
Alternative Uses
Best Use
Hotel Hospitality
$4.53M
$3.96M – $5.28M
NOI $317,070 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.10M
$14.96M – $19.94M
NOI $1,196,683 @ 7.0% cap · market cap 19.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,597
Businesses Nearby
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Business Placement
Demographics for 89501, NV
3,948
Population
2,975
Households
1.3
Avg Household Size
50
Median Age
40%
College-Educated
91%
High-School Grad
0.6 sq mi
ZIP Area
6,580
Density / Sq Mi
$32,990
Median Household Income
$28,774
Median Earnings
$1,089
Median Rent
$379,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - 93-room former hotel with kitchenettes and indoor pool.
Where is this hotel located?
The property is located at 140 Court St Reno, NV.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 93 rooms, each featuring convenient kitchenettes.; Substantial discount to replacement cost, offering exceptional value.; Enjoy the indoor pool and sauna for relaxation and recreation.
