Freestanding Flex
For Sale
Contact for pricing
1900 Vassar St., Reno, NV 89502
Office and warehouse components support a range of commercial configurations, including R&D and light manufacturing uses.
Property Size9,545 SF
Price / SF$259.30
Days on Market27
Property Features for 1900 Vassar St.
General Information
Standard status
Active
Size
9,545 SF
Class
C
Property subtype
Industrial, Office
Zoning
Neighborhood Commercial (NC)
Warehouse & Industrial
Clear Height
14 ft
Warehouse Space
2,808 SF
Office Build-Out
6,737 SF
Drive-In Doors
1
Additional Details
Fenced Yard
Yes
Amenities
conference room
Building Details
Year Built
1969
Buildings
1
Building Size
9,545 SF
Listing Agency:
Logic Commercial Real Estate Reno
(775) 800-4100
Listed By:
Casey Prostinak · License #NV S.0177148.LLC
Source:
Crexi
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 29 at 9:13PM
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 Logic Commercial Real Estate Reno
Investment Insights
Based on property information with market context.
Located at 1900 Vassar St. in Reno, this 9,545-square-foot flex property combines office and warehouse components within a freestanding building. The warehouse area measures approximately 2,808 SF and offers 14-foot clear height, while approximately 6,737 SF is configured as office space. A 12'x12' grade-level door serves the warehouse portion.
The office area includes a large open section, a conference room, potential showroom space, and an out-of-service bank vault. The site also provides a fenced parking lot with a gate. Neighborhood Commercial (NC) zoning and the existing office-warehouse layout support consideration for R&D, flex, and light manufacturing applications.
The office area includes a large open section, a conference room, potential showroom space, and an out-of-service bank vault. The site also provides a fenced parking lot with a gate. Neighborhood Commercial (NC) zoning and the existing office-warehouse layout support consideration for R&D, flex, and light manufacturing applications.
Key Highlights
- 9,545‑square‑foot freestanding flex building at 1900 Vassar St., Reno, NV 89502
- Approximately 2,808 SF of warehouse space with 14‑foot clear height
- Approximately 6,737 SF of office space
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
$168,730
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
6.82%
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%
$3,374,600
$3.4M
Cap Rate 7%
$2,410,429
$2.4M
Cap Rate 9%
$1,874,778
$1.9M
Market Conditions
NOI Build-Up for 9,545 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
$276.0K $28.92/SF
− Vacancy
−$51.1K −$5.35/SF
EGI
$225.0K $23.57/SF
− OpEx
−$56.2K −$5.89/SF
NOI
$168.7K $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%
$3,374,600
Cap Rate 7%
$2,410,429
Cap Rate 9%
$1,874,778
Alternative Uses
Best Use
Office B
$2.41M
$2.11M – $2.81M
NOI $168,730 @ 7.0% cap · market cap 6.82%
Second Best
Flex RnD
$1.76M
$1.54M – $2.05M
NOI $123,272 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,915 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,686
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Office and warehouse components support a range of commercial configurations, including R&D and light manufacturing uses.
Where is this flex space located?
The property is located at 1900 Vassar St. Reno, NV.
What is the asking price?
The asking price for this property is $2,475,000.
What are key features of this property?
This property features: 9,545‑square‑foot freestanding flex building at 1900 Vassar St., Reno, NV 89502; Approximately 2,808 SF of warehouse space with 14‑foot clear height; Approximately 6,737 SF of office space
