Office Retail Flex
400 S Wells Ave Reno, NV 89502
400 S Wells Ave, Reno, NV, 89502
Contact for pricing
For Sale
Contact for pricing
Two-story, fully renovated office/retail/flex building with contemporary buildout, abundant natural light, and outdoor patio spaces.
Property Size9,586 SF
Price / SF$365.12
Days on Market113
Property Features for 400 S Wells Ave
General Information
- Standard status
- Active
- Size
- 9,586 SF
- Property subtype
- FLEX_R_AND_D
Listing agency
CBRE | Reno
(775) 762-2288
Listed by
David Woods · License #0072644
(775) 762-2288
Source
Moodyscre
Added: Mar 31 Updated: Jul 21 at 3:26AM Checked: Jul 21 at 3:26AM
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 CBRE | Reno
Investment Insights
Based on property information with market context.
This two-story, fully renovated boutique office/retail/flex building offers a contemporary buildout designed around abundant natural light. The property also includes outdoor patio spaces, creating usable exterior areas alongside the indoor workspace.
The building is located on a major thoroughfare in the Wells district, providing quick access to Downtown and nearby I-80 and I-580 freeways. The surrounding area includes a wide assortment of restaurant and retail amenities, and the property sits directly across the street from Stewart Park.
With its office, retail, and flex configuration, the building presents an owner-user opportunity that can accommodate a range of practical commercial uses.
The building is located on a major thoroughfare in the Wells district, providing quick access to Downtown and nearby I-80 and I-580 freeways. The surrounding area includes a wide assortment of restaurant and retail amenities, and the property sits directly across the street from Stewart Park.
With its office, retail, and flex configuration, the building presents an owner-user opportunity that can accommodate a range of practical commercial uses.
Key Highlights
- Two‑story office/retail/flex building, fully renovated with a contemporary buildout
- Provides abundant natural light and outdoor patio spaces
- Located in the heart of the Wells district on a major thoroughfare
Local Financial Insights For Office B
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 | $277.2k | $28.92 |
| − Vacancy | −$51.3k | −$5.35 |
| EGI | $225.9k | $23.57 |
| − OpEx | −$56.5k | −$5.89 |
| NOI | $169.5k | $17.68 |
9,586 SF · lease $28.92/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.42M
$2.12M – $2.82M
NOI $169,455 @ 7.0% cap · market cap 4.84%
Second Best
Flex RnD
$1.77M
$1.55M – $2.06M
NOI $123,802 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$2.95M
$2.59M – $3.45M
NOI $206,800 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
HD Ships
Logistics Company
FormGrey Studio LLC
Architecture Firm
Similar For Sale Nearby
Similar Off Market Nearby
- stephons mobile bistro — 1234 S Wells Ave, Reno, NV 89502
- The Cheese Board — 247 California Ave, Reno, NV 89509
- The Exotic Milkshake Bar Reno — 124 W 2nd St, Reno, NV 89501
- Mini Pearl Oyster Co — 148 West St, Reno, NV 89501
FAQs
What type of property is this?
Flex space - Two-story, fully renovated office/retail/flex building with contemporary buildout, abundant natural light, and outdoor patio spaces.
Where is this flex space located?
The property is located at 400 S Wells Ave Reno, NV.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Two‑story office/retail/flex building, fully renovated with a contemporary buildout; Provides abundant natural light and outdoor patio spaces; Located in the heart of the Wells district on a major thoroughfare
