125-Key Two-Building
For Sale
Contact for pricing
200 MILL ST, Reno, NV 89501
Hospitality property with separate entrances, elevator systems, a ground-level bar, and a convenience store.
Property Size55,783 SF
Price / SF$224.08
Days on Market176
Property Features for 200 MILL ST
General Information
Standard status
Active
Size
55,783 SF
Class
B
Property subtype
Hospitality, Mixed Use
Zoning
MD-RD
Amenities
ground-level bar
convenience store
Building Details
Year Built
1966
Buildings
2
Stories
6
Units
71
Listing Agency:
Coldwell Banker Commercial AMH
Listed By:
Anthony Briguglio · License #10491212878
(631) 903-3739
Source:
Crexi
Added: Apr 24
Changed: Oct 7
Last Checked: Oct 14 at 10:11PM
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 Coldwell Banker Commercial AMH
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Investment Insights
Based on property information with market context.
Lakemill Lodge is a 125-key hotel comprising two independent buildings, each with its own entrance and elevator system. The configuration supports separate guest areas and operational flexibility across the property. On-site amenities include a ground-level bar and convenience store.
Built in 1966, the property contains 55,783 square feet and is located at 200 Mill St in Reno, Nevada. The asset is identified under MD-RD zoning and is positioned as a hospitality property within Reno’s lodging market.
Built in 1966, the property contains 55,783 square feet and is located at 200 Mill St in Reno, Nevada. The asset is identified under MD-RD zoning and is positioned as a hospitality property within Reno’s lodging market.
Key Highlights
- 125‑key hotel with two independent buildings
- Separate entrances and elevator systems serve each building
- 55,783‑square‑foot property built in 1966
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$814,048
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,280,960
$16.3M
Cap Rate 7%
$11,629,257
$11.6M
Cap Rate 9%
$9,044,978
$9.0M
Market Conditions
NOI Build-Up for 55,783 SF
Gross rent
$1.44M $25.80/SF
− Vacancy
−$136.7K −$2.45/SF
EGI
$1.30M $23.35/SF
− OpEx
−$488.4K −$8.76/SF
NOI
$814.0K $14.59/SF
Area
Reno, NV
Vacancy
9.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,280,960
Cap Rate 7%
$11,629,257
Cap Rate 9%
$9,044,978
Alternative Uses
Best Use
Mixed Use
$11.63M
$10.18M – $13.57M
NOI $814,048 @ 7.0% cap · market cap 6.51%
Second Best
Hotel Hospitality
$4.56M
$3.99M – $5.31M
NOI $318,853 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$17.19M
$15.04M – $20.06M
NOI $1,203,413 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
5,655
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Hotel - Hospitality property with separate entrances, elevator systems, a ground-level bar, and a convenience store.
Where is this hotel located?
The property is located at 200 MILL ST Reno, NV.
What is the asking price?
The asking price for this property is $12,500,000.
What are key features of this property?
This property features: 125‑key hotel with two independent buildings; Separate entrances and elevator systems serve each building; 55,783‑square‑foot property built in 1966
