Building Details

Building Size 7,500 SF

Listing Agency: Dickson Commercial Group

Listed By: Josh Menante · License #NV S.201761 Show Phone

Source: Crexi

Added: Feb 24 Changed: Oct 4 Last Checked: Oct 14 at 9:14PM

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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 Dickson Commercial Group

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Investment Insights

Based on property information with market context.

This flex industrial property comprises 7,500 SF of building area and can be divided into four units of approximately 1,875 SF each. The configuration supports a range of commercial layouts within a single industrial building. The property is zoned IC Industrial Commercial.

The offering is a leasehold interest under a ground lease with Union Pacific. Positioned in West Reno near the Truckee River, the property provides access to I-80 and Downtown Reno. The surrounding area includes local creators, makers, artists, and small businesses.

Key Highlights

• 7,500 SF of flex industrial space
• Potential configuration into four ±1,875 SF units
• Leasehold interest under a ground lease with Union Pacific

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,628

Cap Rate

4.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,032,560 $1.0M

Cap Rate 7%

$737,543 $737.5K

Cap Rate 9%

$573,644 $573.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,500 SF

Gross rent

$68.4K $9.12/SF

− Vacancy

−$7.7K −$1.02/SF

EGI

$60.7K $8.10/SF

− OpEx

−$9.1K −$1.21/SF

NOI

$51.6K $6.88/SF

Area

Reno, NV

Vacancy

11.20%

Lease Rate

$9.12 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,032,560

Cap Rate 7%

$737,543

Cap Rate 9%

$573,644

Alternative Uses

Best Use

Flex RnD

$1.38M

$1.21M – $1.61M (±1% cap)

NOI $96,861 @ 7.0% cap · market cap 9.22%

Second Best

Warehouse

$737.5K

$645.4K – $860.5K (±1% cap)

NOI $51,628 @ 7.0% cap · market cap 4.92%

Theoretical Best

Office A

$2.31M

$2.02M – $2.70M (±1% cap)

NOI $161,798 @ 7.0% cap · market cap 15.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Robinson Specialty Welding General Contractor

Suggested Use

Top Pick Building Supply Electrical Service Gym & Fitness Center Dental Office (Bike/Boat/Book/etc) Store Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

416

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 89503, NV

28,737

Population

13,938

Households

2.1

Avg Household Size

33

Median Age

36%

College-Educated

91%

High-School Grad

6.2 sq mi

ZIP Area

4,635

Density / Sq Mi

$66,956

Median Household Income

$37,352

Median Earnings

$1,336

Median Rent

$441,800

Median Home Value

Market

Vacancy Rate% for Industrial in Reno, NV

4.8% 2019

4.7% 2020

2.1% 2021

1.8% 2022

4.9% 2023

12.4% 2024

14.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Flex industrial building with demising potential for multiple commercial occupants.

Where is this flex space located?

The property is located at 2495 Dickerson Rd Reno, NV.

What is the asking price?

The asking price for this property is $1,050,000.

What are key features of this property?

This property features: 7,500 SF of flex industrial space; Potential configuration into four ±1,875 SF units; Leasehold interest under a ground lease with Union Pacific