Two-Story Mixed-Use
For Sale
$1,150,000
235 W Pueblo Street, Reno, NV 89509
COMMERCIAL - Reno, NV
Property Size2,785 SF
Lot Size0.16 Acres
Price / SF$412.93
Days on Market347
Property Features for 235 W Pueblo Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MURES
Parking
10
Parking features
Parking Lot
Security features
Security System
Window features
Wood Frames, Single Pane Window(s)
Basement
Unfinished
Subdivision
Sierra Vista Tract
Lot features
Level, Sprinklers In Front
Directions
West of Virginia in Midtown Reno
Standard status
Active
APN
01412312
Size
2,785 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2634
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Oil
Cooling system
Central Air
Water source
Public
Building Details
Year built
1962
Floors in Building
2
Number of units
4
Flooring type
Laminate, Carpet, Vinyl
Building materials
Brick Veneer, Stucco
Roof type
Shingle, Composition
Listing Agency:
Realty One Group Eminence
(775) 683-3360
Listed By:
Denise Wilson · License #BS.146450
(775) 240-3060
Added: Aug 30, 2025
Changed: Aug 4
Last Checked: Aug 11 at 8:06PM
MLS# 250055290
Copyright © 2026 Northern Nevada Regional MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story mixed-use building offers commercial and residential zoning (MURES) and includes both office-oriented space and an upstairs reception area. The second floor features one large space and one office, with one additional upstairs space currently rented on a month-to-month basis. The main level is available for lease. The property is served by a newly installed A/C system on both floors, including new condensers.
The building sits on a lot with parking in the rear and additional street parking nearby for tenants and clients. The street-level and upper-level spaces are described as large and well-lit, with flexible layouts suited to professional uses.
A larger portion of the property is set up as a parking area at the back of the site, providing room for multiple vehicles and potential for future change subject to county regulations.
The building sits on a lot with parking in the rear and additional street parking nearby for tenants and clients. The street-level and upper-level spaces are described as large and well-lit, with flexible layouts suited to professional uses.
A larger portion of the property is set up as a parking area at the back of the site, providing room for multiple vehicles and potential for future change subject to county regulations.
Key Highlights
- Two‑story mixed‑use building with commercial and residential zoning
- Main level is available for lease; upstairs includes a reception area plus one large space and one office for rent
- One upstairs space is currently rented on a month‑to‑month lease
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
$49,231
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
4.28%
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%
$984,620
$984.6K
Cap Rate 7%
$703,300
$703.3K
Cap Rate 9%
$547,011
$547.0K
Market Conditions
NOI Build-Up for 2,785 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
$80.5K $28.92/SF
− Vacancy
−$14.9K −$5.35/SF
EGI
$65.6K $23.57/SF
− OpEx
−$16.4K −$5.89/SF
NOI
$49.2K $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 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%
$984,620
Cap Rate 7%
$703,300
Cap Rate 9%
$547,011
Alternative Uses
Best Use
Office B
$703.3K
$615.4K – $820.5K
NOI $49,231 @ 7.0% cap · market cap 4.28%
Second Best
Mixed Use
$580.6K
$508.0K – $677.4K
NOI $40,642 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$858.3K
$751.0K – $1.00M
NOI $60,081 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,755
Businesses Nearby
Explore this area
Business Placement
Demographics for 89509, NV
34,817
Population
18,290
Households
1.9
Avg Household Size
44
Median Age
50%
College-Educated
95%
High-School Grad
8.8 sq mi
ZIP Area
3,956
Density / Sq Mi
$81,751
Median Household Income
$47,546
Median Earnings
$1,443
Median Rent
$670,700
Median Home Value
Market
Vacancy Rate% for Office in Reno, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Two-story mixed-use property with new A/C systems and multiple office and reception spaces on upper level.
Where is this live-work space located?
The property is located at 235 W Pueblo Street Reno, NV.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two‑story mixed‑use building with commercial and residential zoning; Main level is available for lease; upstairs includes a reception area plus one large space and one office for rent; One upstairs space is currently rented on a month‑to‑month lease
