Mixed-Use Income
3890 Neil Rd Reno, NV 89502
For Sale
Contact for pricing
For sale mixed-use asset with 7 duplexes plus a convenience store and maintenance shop in Mixed-Employment zoning.
Property Size13,075 SF
Lot Size0.99 Acres
Price / SF$282.22
Days on Market115
Property Features for 3890 Neil Rd
General Information
- Standard status
- Active
- Size
- 13,075 SF
- Lot size
- 0.99 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1969
Listing Agency:
CHASE International
Listed By:
Gabriel Larkins · License #NV62147
Source:
Crexi
Added: Apr 2
Changed: Jul 22
Last Checked: Jul 24 at 4:31PM
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 CHASE International
Investment Insights
Based on property information with market context.
3890 Neil Rd is a mixed-use income property positioned to serve a high-demand rental corridor. The site includes 7 duplexes, totaling 14 residential units, along with a convenience store and a maintenance shop. Each unit is a single-level 2-bedroom, 1-bath layout, and the property provides covered carport parking for residents.
The property sits on a 0.99-acre parcel and is described as having Mixed-Employment zoning. The offering benefits from its accessible location near Reno-Tahoe International Airport, Highway 580, and major retail and employment centers, including Meadowood Mall and surrounding amenities. The seller also notes historically low vacancy.
Overall, the configuration combines residential income with an on-site commercial component under the same ownership, supported by functional unit layouts and established occupancy performance as described in the listing materials.
The property sits on a 0.99-acre parcel and is described as having Mixed-Employment zoning. The offering benefits from its accessible location near Reno-Tahoe International Airport, Highway 580, and major retail and employment centers, including Meadowood Mall and surrounding amenities. The seller also notes historically low vacancy.
Overall, the configuration combines residential income with an on-site commercial component under the same ownership, supported by functional unit layouts and established occupancy performance as described in the listing materials.
Key Highlights
- 1969‑built mixed‑use property on 0.99 acres with 7 duplexes (14 total units) plus a convenience store and maintenance shop
- All residential units are single‑level 2 bed, 1 bath layouts with 840 SF each
- Mixed‑Employment zoning
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $290.3k | $22.20 |
| − Vacancy | −$12.4k | −$0.95 |
| EGI | $277.9k | $21.25 |
| − OpEx | −$83.4k | −$6.38 |
| NOI | $194.5k | $14.88 |
13,075 SF · lease $22.20/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$2.78M
$2.43M – $3.24M
NOI $194,509 @ 7.0% cap · market cap 5.27%
Second Best
Specialty Retail
$2.71M
$2.37M – $3.16M
NOI $189,869 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$4.03M
$3.53M – $4.70M
NOI $282,069 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Clarkson Popular Investments
Financial Advisor
FAQs
What type of property is this?
Duplex - For sale mixed-use asset with 7 duplexes plus a convenience store and maintenance shop in Mixed-Employment zoning.
Where is this duplex located?
The property is located at 3890 Neil Rd Reno, NV.
What is the asking price?
The asking price for this property is $3,690,000.
What are key features of this property?
This property features: 1969‑built mixed‑use property on 0.99 acres with 7 duplexes (14 total units) plus a convenience store and maintenance shop; All residential units are single‑level 2 bed, 1 bath layouts with 840 SF each; Mixed‑Employment zoning
