Flexible Office
For Sale
Contact for pricing
1510 Meadow Wood Lane, Reno, NV 89502
Well-maintained office building with a flexible floor plan and recent HVAC and fire/life-safety upgrades.
Property Size20,805 SF
Price / SF$300
Days on Market53
Property Features for 1510 Meadow Wood Lane
General Information
Standard status
Active
Size
20,805 SF
Class
B
Total Parking Spaces
76
Property subtype
Office
Zoning
MU Mixed-Use Urban
Building Details
Buildings
1
Stories
2
Listing Agency:
Dickson Commercial Group
(775) 250-6600
Listed By:
Travis Hansen · License #NV 75595
Source:
Crexi
Added: Jul 2
Changed: Aug 21
Last Checked: Aug 22 at 12:21PM
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.
1510 Meadow Wood Lane is a well-maintained 20,805-square-foot office building presented for sale. The property is designed to support flexible occupancy, with a floor plan that can accommodate a single-tenant headquarters or be configured for multiple occupants. Recent capital improvements include upgraded HVAC systems and Fire/Life Safety enhancements, supporting reliable day-to-day operations.
The building is centrally located with convenient access to major business districts and regional destinations. Nearby freeways provide connectivity for employees, clients, and visitors, supporting efficient travel throughout the area.
This property is well suited for owner-users and professional tenants that need adaptable office space, including healthcare providers, educational institutions, and corporate occupiers. Its update history and multi-tenant flexibility make it practical for organizations evaluating either a consolidated footprint or a more distributed configuration within a single building.
The building is centrally located with convenient access to major business districts and regional destinations. Nearby freeways provide connectivity for employees, clients, and visitors, supporting efficient travel throughout the area.
This property is well suited for owner-users and professional tenants that need adaptable office space, including healthcare providers, educational institutions, and corporate occupiers. Its update history and multi-tenant flexibility make it practical for organizations evaluating either a consolidated footprint or a more distributed configuration within a single building.
Key Highlights
- 20,805‑SF office building for sale
- Flexible floor plan supports single‑tenant headquarters or multiple‑occupant configurations
- Recent capital improvements include upgraded HVAC systems
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
$367,777
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
5.89%
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%
$7,355,540
$7.4M
Cap Rate 7%
$5,253,957
$5.3M
Cap Rate 9%
$4,086,411
$4.1M
Market Conditions
NOI Build-Up for 20,805 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
$601.7K $28.92/SF
− Vacancy
−$111.3K −$5.35/SF
EGI
$490.4K $23.57/SF
− OpEx
−$122.6K −$5.89/SF
NOI
$367.8K $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%
$7,355,540
Cap Rate 7%
$5,253,957
Cap Rate 9%
$4,086,411
Alternative Uses
Best Use
Office B
$5.25M
$4.60M – $6.13M
NOI $367,777 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.41M
$5.61M – $7.48M
NOI $448,829 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,727
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
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 - Well-maintained office building with a flexible floor plan and recent HVAC and fire/life-safety upgrades.
Where is this office building located?
The property is located at 1510 Meadow Wood Lane Reno, NV.
What is the asking price?
The asking price for this property is $6,241,500.
What are key features of this property?
This property features: 20,805‑SF office building for sale; Flexible floor plan supports single‑tenant headquarters or multiple‑occupant configurations; Recent capital improvements include upgraded HVAC systems
