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    277 Vassar Street Reno, NV 89502

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    Claim this Listing
    For Sale
    Under Contract
    $585,820

    COMMERCIAL - Reno, NV

    Property size:
    1,520 SF
    Lot size:
    0.15 Acres
    Price / SF:
    $385/SF
    Added:
    Aug 19, 2025
    Days on Market:
    262
    Last Refresh:
    May 7 at 9:06 pm

    Property Features for 277 Vassar Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    GC
    Parking
    10
    Parking features
    Alley, Paved or Surfaced, Offsite, Gated, On Street
    Window features
    Single Pane Window(s), Double Pane Windows, Vinyl Frames, Blinds, Wood Frames
    Fencing
    Chain Link
    Fireplace
    1
    Basement
    Unfinished
    Standard status
    Active Under Contract
    APN
    014-072-10
    Size
    1,520 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1843

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Energy Star Qualified Equipment (Heating), Forced Air
    Cooling system
    ENERGY STAR Qualified Equipment, Central Air
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    1
    Flooring type
    Vinyl
    Building materials
    Asbestos, Attic/Crawl Hatchway(s) Insulated, Blown-In Insulation, Brick
    Roof type
    Shingle, Asphalt
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Michael McNamara

    Listing agent Michael McNamara License #S.199609

    Listing office Keller Williams Group One Inc. 10539 Professional Circle #100, Reno, NV

    Listing date Aug 19, 2025

    MLS# 250054751

    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.

    HighLights

    • Prime Central Reno Location: Blocks from Midtown with high visibility.
    • Versatile Commercial Space: 760 sq ft floor plan ideal for various businesses, plus a 760 sq ft unfinished basement.
    • Opportunity Zone: Potential tax advantages for investors in a City of Reno Opportunity Zone.
    • Ample Parking: Detached garage, rear parking, and a fully fenced lot.
    • General Commercial Zoning: Allows for a variety of business uses.
    • Tax Benefits: Enjoy NO Corporate Income Tax, NO Inventory Tax, and other significant tax advantages in Nevada.

    Overview

    Versatile Commercial Building in Reno

    This vacant, multi-use commercial building offers 760 square feet of space with an additional 760 square feet unfinished basement, presenting opportunities for office, retail, salon, or studio use. The property is located blocks from Midtown in central Reno, benefiting from high visibility. The flexible floor plan includes an open space, partial kitchen/breakroom, one bathroom, and a fireplace. The full basement provides additional storage or workshop space. Ample parking is available with a detached garage, additional rear parking, and a fully fenced lot. The property is zoned General Commercial, allowing for a variety of business uses. Situated within the City of Reno Opportunity Zone, the property offers potential tax advantages for investors. The 0.15-acre lot is surrounded by revitalization and growth, including neighboring developments of new four-plexes. This property presents an opportunity to establish or expand your business while investing in Reno's thriving core.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Building Supply Nail Salon Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Debi’s Crafts & Gifts — 20 Hillcrest Dr, Reno, NV 89509
    • Flourish — 1515 Plumas St, Reno, NV 89509
    • Best Flowers By Julie — 1599 S Virginia St, Reno, NV 89502
    • Floreria Reno — 1430 S Wells Ave, Reno, NV 89502
    • Helianthus Floral Design — 1255 S Wells Ave, Reno, NV 89502

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.803792
    Latitude
    39.513051

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    FAQs

    What type of property is this?
    Storefront property - Multi-use commercial building in central Reno, close to Midtown.
    Where is this storefront property located?
    The property is located at 277 Vassar Street Reno, NV.
    What is the asking price?
    The asking price for this property is $585,820.
    What are key features of this property?
    This property features: Prime Central Reno Location: Blocks from Midtown with high visibility.; Versatile Commercial Space: 760 sq ft floor plan ideal for various businesses, plus a 760 sq ft unfinished basement.; Opportunity Zone: Potential tax advantages for investors in a City of Reno Opportunity Zone.
    (775) 287-4152
    We can help!
    Listing Contact
    Michael McNamara
    Real Estate License ID: S.199609
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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