Two-Story Mixed-Use
For Sale
$1,150,000
235 W Pueblo Street, Reno, NV 89509
Flexible commercial and residential zoning supports office use, live-work arrangements, and multiple professional tenant configurations.
Property Size2,785 SF
Price / SF$412.93
Days on Market368
Property Features for 235 W Pueblo Street
General Information
Standard status
Active
Size
2,785 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$2,634
Amenities
Central Air, Refrigeration
3
Vinyl, Laminate, Carpet
Composition, Shingle, Pitched
Parking.
10 Parking Spaces. Lot, Gravel, On Site.
Level
0.1599999964237213
Freestanding. Public Roads, Paved Road, Level.
Building Details
Year Built
1962
Buildings
1
Stories
2
Listing Agency:
Realty One Group Eminence
(775) 240-3060
Listed By:
Denise Wilson · License #BS.146450
(775) 240-3060
Source:
Xome
Added: Aug 28, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:03AM
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 Realty One Group Eminence
Investment Insights
Based on property information with market context.
Built in 1962, this two-story mixed-use property contains 2,785 square feet on approximately 0.16 acres. The building carries both commercial and residential zoning and includes central air and refrigeration, along with vinyl, laminate, and carpet finishes. The upstairs layout features a reception area, one large open space, and one office, while another upstairs space is occupied under a month-to-month lease. The main level is available for lease, creating additional flexibility for an owner-user or multiple occupants.
The rear portion of the level lot is currently used for gravel parking and provides 10 on-site spaces, with additional street parking along public paved roads. Located at 235 W Pueblo Street in Reno’s Midtown area, the property is near a mix of shops, dining, and entertainment. The back lot is identified for potential future development, subject to county regulations.
The rear portion of the level lot is currently used for gravel parking and provides 10 on-site spaces, with additional street parking along public paved roads. Located at 235 W Pueblo Street in Reno’s Midtown area, the property is near a mix of shops, dining, and entertainment. The back lot is identified for potential future development, subject to county regulations.
Key Highlights
- 2,785 SF two‑story mixed‑use building on approximately 0.16 acres
- Commercial and residential zoning supports mixed‑use occupancy
- 10 Parking Spaces. Lot, Gravel, On Site.
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
Location Intelligence
Trade Area within ½ mile
3,149
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?
Mixed-use property - Flexible commercial and residential zoning supports office use, live-work arrangements, and multiple professional tenant configurations.
Where is this mixed-use property 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: 2,785 SF two‑story mixed‑use building on approximately 0.16 acres; Commercial and residential zoning supports mixed‑use occupancy; 10 Parking Spaces. Lot, Gravel, On Site.
