Flex Industrial
For Sale
Contact for pricing
2495 Dickerson Rd, Reno, NV 89503
Flex industrial building with demising potential for multiple commercial occupants.
Property Size7,500 SF
Price / SF$180
Days on Market188
Property Features for 2495 Dickerson Rd
General Information
Standard status
Active
Size
7,500 SF
Class
B
Property subtype
Industrial
Zoning
IC Industrial Commercial
Building Details
Building Size
7,500 SF
Listing Agency:
Dickson Commercial Group
(775) 351-5578
Listed By:
Josh Menante · License #NV S.201761
Source:
Crexi
Added: Feb 24
Changed: Aug 29
Last Checked: Aug 31 at 10:00AM
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
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.
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 = 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
$96,861
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
7.17%
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%
$1,937,220
$1.9M
Cap Rate 7%
$1,383,729
$1.4M
Cap Rate 9%
$1,076,233
$1.1M
Market Conditions
NOI Build-Up for 7,500 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
$166.5K $22.20/SF
− Vacancy
−$17.5K −$2.33/SF
EGI
$149.0K $19.87/SF
− OpEx
−$52.2K −$6.95/SF
NOI
$96.9K $12.91/SF
Area
Reno, NV
Vacancy
10.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,937,220
Cap Rate 7%
$1,383,729
Cap Rate 9%
$1,076,233
Alternative Uses
Best Use
Flex RnD
$1.38M
$1.21M – $1.61M
NOI $96,861 @ 7.0% cap · market cap 7.17%
Second Best
Warehouse
$737.5K
$645.4K – $860.5K
NOI $51,628 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,798 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $1,350,000.
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
