Multi-Tenant Retail
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For Sale
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3350 Lakeside Ct., Reno, NV 89509
Recent facade, interior, and signage work has refreshed the center and its individual retail spaces.
Property Size7,496 SF
Price / SF$423.83
Days on Market7
Property Features for 3350 Lakeside Ct.
General Information
Standard status
Active
Size
7,496 SF
Property subtype
Retail
Additional Details
Pylon Signage
Yes
Building Details
Tenancy
Multi
Listing Agency:
Logic Commercial Real Estate Reno
Listed By:
Ian Cochran · License #NV B.145434.LLC
(775) 800-4100
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 26 at 6:30AM
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.
This retail center contains 7,496 SF across four retail units, occupied by three tenants. Recent improvements include refreshed paint and facade work, interior updates in each tenant space, and new center and tenant signage. Landscaping improvements and parking lot slurry and restriping are planned.
The property is within walking distance of Virginia Lake, west of Moana Springs Community Center, and southeast of NevDex Sports Lab. The surrounding area includes a substantial residential presence and recent community development.
The property is within walking distance of Virginia Lake, west of Moana Springs Community Center, and southeast of NevDex Sports Lab. The surrounding area includes a substantial residential presence and recent community development.
Key Highlights
- 7,496 SF across four retail units
- Three tenants occupy the center
- Recent paint, facade, interior, and signage improvements
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
$94,856
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
2.99%
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%
$1,897,120
$1.9M
Cap Rate 7%
$1,355,086
$1.4M
Cap Rate 9%
$1,053,956
$1.1M
Market Conditions
NOI Build-Up for 7,496 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
$148.4K $19.80/SF
− Vacancy
−$12.9K −$1.72/SF
EGI
$135.5K $18.08/SF
− OpEx
−$40.7K −$5.42/SF
NOI
$94.9K $12.65/SF
Area
Reno, NV
Vacancy
8.70%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,897,120
Cap Rate 7%
$1,355,086
Cap Rate 9%
$1,053,956
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.58M
NOI $94,856 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,712 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,573
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Reno, NV
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Frequently Asked Questions
What type of property is this?
Shopping center - Recent facade, interior, and signage work has refreshed the center and its individual retail spaces.
Where is this shopping center located?
The property is located at 3350 Lakeside Ct. Reno, NV.
What is the asking price?
The asking price for this property is $3,177,000.
What are key features of this property?
This property features: 7,496 SF across four retail units; Three tenants occupy the center; Recent paint, facade, interior, and signage improvements
