For Sale
$749,000
400 Minerva Lane, Reno, NV 89503
Residential land & home lots
Property Size2,939 SF
Price / SF$254.85
Days on Market372
Property Features for 400 Minerva Lane
General Information
Standard status
Active
Size
2,939 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,221
Building Details
Building Size
2,939 SF
Year Built
1949
Listing Agency:
Chase International-Damonte
Listed By:
Corry Castaneda · License #B.1001732
(775) 745-2194
Source:
Kirschrealestateteam
Added: Oct 22, 2025
Changed: Oct 26
Last Checked: Oct 26 at 11:32AM
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-Damonte
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,975
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,500
$759.5K
Cap Rate 7%
$542,500
$542.5K
Cap Rate 9%
$421,944
$421.9K
Market Conditions
NOI Build-Up for 2,939 SF
Gross rent
$72.3K $24.60/SF
− Vacancy
−$3.3K −$1.11/SF
EGI
$69.0K $23.49/SF
− OpEx
−$31.1K −$10.57/SF
NOI
$38.0K $12.92/SF
Area
Reno, NV
Vacancy
4.50%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,500
Cap Rate 7%
$542,500
Cap Rate 9%
$421,944
Alternative Uses
Best Use
Apartment 5plus
$542.5K
$474.7K – $632.9K
NOI $37,975 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$905.8K
$792.5K – $1.06M
NOI $63,403 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,556
Businesses Nearby
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Business Placement
Demographics for 89503, NV
28,737
Population
13,938
Households
2.1
Avg Household Size
33
Median Age
36%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
4,635
Density / Sq Mi
$66,956
Median Household Income
$37,352
Median Earnings
$1,336
Median Rent
$441,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
Where is this residential land & home lot located?
The property is located at 400 Minerva Lane Reno, NV.
What is the asking price?
The asking price for this property is $749,000.
