Multi-Tenant Flex
280 Greg St, Reno, NV 89502
For Sale
New
$8,500,000
The single-story property is configured for industrial and light manufacturing uses.
Property Size38,657 SF
Price / SF$219.88
Days on Market4
Property Features for 280 Greg St
General Information
Standard status
Size
Class
Property subtype
Zoning
Occupancy
Net Operating Income
Additional Details
Tenant in Place
Property Use
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listed By:
Lisa Read · License NV BS.0032915
(775) 225-5659
Source:
Cpmnv
Added: Nov 10
Last Checked: Nov 12 at 6:10AM
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 Lisa Read
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Investment Insights
Based on property information with market context.
This single-story flex building contains 38,657 square feet across 11 units. Built in 1997 and classified as a Class B asset, it is configured for multi-tenant occupancy and industrial and light manufacturing uses. The property is zoned IC and is currently 59% occupied, with established tenants in place.
Key Highlights
- 38,657‑square‑foot single‑story flex building
- 11‑unit configuration
- 59% occupied with tenants in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$499,249
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,984,980
$10.0M
Cap Rate 7%
$7,132,129
$7.1M
Cap Rate 9%
$5,547,211
$5.5M
Market Conditions
NOI Build-Up for 38,657 SF
Gross rent
$858.2K $22.20/SF
− Vacancy
−$90.1K −$2.33/SF
EGI
$768.1K $19.87/SF
− OpEx
−$268.8K −$6.95/SF
NOI
$499.2K $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 Rate 5%
$9,984,980
Cap Rate 7%
$7,132,129
Cap Rate 9%
$5,547,211
Alternative Uses
Best Use
Flex RnD
$7.13M
$6.24M – $8.32M
NOI $499,249 @ 7.0% cap · market cap 5.87%
Second Best
Industrial
$3.13M
$2.74M – $3.65M
NOI $219,146 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$11.91M
$10.42M – $13.90M
NOI $833,952 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
59%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,268
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Flex space in Washoe County
Vacancy Rate% for Industrial in Reno, NV
Frequently Asked Questions
What type of property is this?
Flex space - The single-story property is configured for industrial and light manufacturing uses.
Where is this flex space located?
The property is located at 280 Greg St Reno, NV.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: 38,657‑square‑foot single‑story flex building; 11‑unit configuration; 59% occupied with tenants in place
