Mixed-Use Building in
For Sale
Contact for pricing
300 S Wells Ave., Reno, NV 89502
Mixed-use property with office, retail, and medical suites.
Property Size40,862 SF
Lot Size2.30 Acres
Price / SF$324.87
Days on Market153
Property Features for 300 S Wells Ave.
General Information
Standard status
Active
Size
40,862 SF
Total Parking Spaces
144
Lot size
2.30 Acres
Property subtype
Mixed Use, Retail, Office
Zoning
MU (Mixed-Use)
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$859,855
Building Details
Year Built
1972
Year Renovated
2019
Buildings
2
Units
144
Tenancy
Multi
Listing Agency:
Logic Commercial Real Estate Reno
Listed By:
Ian Cochran · License #NV B.145434.LLC
(775) 800-4100
Source:
Crexi
Added: May 14
Changed: Oct 3
Last Checked: Oct 12 at 9:11PM
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 Logic Commercial Real Estate Reno
Investment Insights
Based on property information with market context.
The property at 300 S. Wells Ave. comprises two buildings totaling approximately 40,862 square feet on roughly 2.30 acres of land. This includes an approximately 40,253 square foot mixed-use building and an approximately 609 square foot residential conversion. Originally constructed in 1972 and renovated in 2019, the property includes renovated common area restrooms, HVAC, and electrical improvements, as well as a common area courtyard for tenants and their guests. Zoned Mixed-Use (MU), the building accommodates a diverse mix of office, retail, and medical office suites. Current tenants include Atelier Beauty Bar, The Mill Barre + Pilates, CNET Media, Tumbles, and Dorinda's Chocolates. The building benefits from its high-traffic location on a major thoroughfare into Downtown and MidTown Reno from I-580 and I-80, with frontage along S. Wells Ave. at approximately 17,920 CPD and Ryland St. at approximately 10,860 CPD. The property is surrounded by over 4,000 homes within a 0.5-mile radius, along with over 825 businesses in that same area. Situated along the primary connection between I-580, downtown, and MidTown, this property features exceptional visibility and access to a large and growing consumer base in one of Reno's most dynamic urban corridors.
Key Highlights
- High‑traffic location on S. Wells Ave. and Ryland St. connecting I‑580/I‑80 to Downtown and MidTown Reno.
- Diverse tenant mix including Atelier Beauty Bar, The Mill Barre + Pilates, CNET Media, Tumbles, and Dorinda's Chocolates.
- Renovated in 2019 with improvements to common area restrooms, HVAC, and electrical systems.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$596,304
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,926,080
$11.9M
Cap Rate 7%
$8,518,629
$8.5M
Cap Rate 9%
$6,625,600
$6.6M
Market Conditions
NOI Build-Up for 40,862 SF
Gross rent
$1.05M $25.80/SF
− Vacancy
−$100.2K −$2.45/SF
EGI
$954.1K $23.35/SF
− OpEx
−$357.8K −$8.76/SF
NOI
$596.3K $14.59/SF
Area
Reno, NV
Vacancy
9.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,926,080
Cap Rate 7%
$8,518,629
Cap Rate 9%
$6,625,600
Alternative Uses
Best Use
Mixed Use
$8.52M
$7.45M – $9.94M
NOI $596,304 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.59M
$11.02M – $14.69M
NOI $881,521 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,664
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with office, retail, and medical suites.
Where is this mixed-use property located?
The property is located at 300 S Wells Ave. Reno, NV.
What is the asking price?
The asking price for this property is $13,275,000.
What are key features of this property?
This property features: High‑traffic location on S. Wells Ave. and Ryland St. connecting I‑580/I‑80 to Downtown and MidTown Reno.; Diverse tenant mix including Atelier Beauty Bar, The Mill Barre + Pilates, CNET Media, Tumbles, and Dorinda's Chocolates.; Renovated in 2019 with improvements to common area restrooms, HVAC, and electrical systems.
