Two-Story Mixed-Use
For Sale
$1,150,000
235 W Pueblo Street, Reno, NV 89509
Commercial Sale, Reno, NV
Property Size2,785 SF
Lot Size0.16 Acres
Price / SF$412.93
Days on Market359
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
Single Pane Window(s), Wood Frames
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
Carpet, Laminate, 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 20
Last Checked: Aug 23 at 3:06PM
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 property contains 2,785 square feet within a 0.16-acre parcel. The building includes a reception area, one larger open space, and an additional office area upstairs, with layouts suited to a range of professional or studio-oriented occupants. One upstairs space is leased month to month, while other areas are available for lease. New air-conditioning systems and condensers have been installed on both floors.
The rear portion of the lot is used for parking, with additional street parking available. MURES zoning is identified for the property. Construction includes brick veneer and stucco, with carpet, laminate, and vinyl flooring, central air, forced-air and oil heating, public water, and public sewer. Built in 1962, the property is located in Reno, Nevada, within the 89509 postal area.
The rear portion of the lot is used for parking, with additional street parking available. MURES zoning is identified for the property. Construction includes brick veneer and stucco, with carpet, laminate, and vinyl flooring, central air, forced-air and oil heating, public water, and public sewer. Built in 1962, the property is located in Reno, Nevada, within the 89509 postal area.
Key Highlights
- 2,785‑square‑foot two‑story mixed‑use building
- 0.16‑acre parcel with rear parking lot and additional street parking
- MURES zoning
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible two-level property with office areas, parking, and new air-conditioning systems serving both floors.
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‑square‑foot two‑story mixed‑use building; 0.16‑acre parcel with rear parking lot and additional street parking; MURES zoning
