Building Details

Building Size 3,090 SF

Year Built 1959

Buildings 2

Listing Agency: RE/MAX Professionals-Reno

Listed By: Sean Burke · License #S.189753 Show Phone

Source: Kirschrealestateteam

Added: Jul 23 Changed: Oct 27 Last Checked: Oct 27 at 4:31AM

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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 RE/MAX Professionals-Reno

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Investment Insights

Based on property information with market context.

This Reno property combines a 2,563-square-foot office building with a detached 527-square-foot studio on one PO-zoned parcel. The office previously housed a chiropractic practice, and its upper level provides additional interior space. The studio is separate from the main building. The asphalt parking area has been refinished and provides off-street parking for staff and visitors.

The property is on Lakeside Drive near Virginia Lake Park. Plumb Lane connects the area with Reno Public Market, grocery, dining, and retail options. Midtown, downtown Reno, the university, and I-80 are accessible along the Virginia Street corridor.

Key Highlights

• 2,563‑square‑foot office building with a detached 527‑square‑foot studio
• PO zoning
• Upper‑level space in the main office building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,623

Cap Rate

7.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,092,460 $1.1M

Cap Rate 7%

$780,329 $780.3K

Cap Rate 9%

$606,922 $606.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,090 SF

Gross rent

$89.4K $28.92/SF

− Vacancy

−$16.5K −$5.35/SF

EGI

$72.8K $23.57/SF

− OpEx

−$18.2K −$5.89/SF

NOI

$54.6K $17.68/SF

Area

Reno, NV

Vacancy

18.50%

Lease Rate

$28.92 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,092,460

Cap Rate 7%

$780,329

Cap Rate 9%

$606,922

Alternative Uses

Best Use

Office B

$780.3K

$682.8K – $910.4K (±1% cap)

NOI $54,623 @ 7.0% cap · market cap 7.02%

Second Best

Healthcare Medical

$685.7K

$600.0K – $799.9K (±1% cap)

NOI $47,996 @ 7.0% cap · market cap 6.17%

Theoretical Best

Office A

$952.3K

$833.3K – $1.11M (±1% cap)

NOI $66,661 @ 7.0% cap · market cap 8.56%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Living Health Chiropractic Alternative Medicine Practice Gary L. Warren, ... Alternative Medicine Practice

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Locksmith Butcher (Bike/Boat/Book/etc) Store Tanning Salon

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

1,635

Businesses Nearby

Explore this area Business Placement

Demographics for 89509, NV

34,817

Population

18,290

Households

1.9

Avg Household Size

44

Median Age

50%

College-Educated

95%

High-School Grad

8.8 sq mi

ZIP Area

3,956

Density / Sq Mi

$81,751

Median Household Income

$47,546

Median Earnings

$1,443

Median Rent

$670,700

Median Home Value

Market

Vacancy Rate% for Office in Reno, NV

9.9% 2019

12.5% 2020

9.8% 2021

10.2% 2022

12.5% 2023

10.6% 2024

9.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - A PO-zoned property pairs professional office space with a separate studio and refinished asphalt parking.

Where is this office building located?

The property is located at 3045 Lakeside Drive Reno, NV.

What is the asking price?

The asking price for this property is $778,509.

What are key features of this property?

This property features: 2,563‑square‑foot office building with a detached 527‑square‑foot studio; PO zoning; Upper‑level space in the main office building