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Renovated Office/Retail/Flex Building

400 South Wells Avenue Reno, NV 89502

400 South Wells Avenue, Reno, NV, 89502

$2,950,000

For Sale

$2,950,000

Two-story renovated building in the Wells district, excellent user opportunity.

Property Size9,586 SF

Price / SF$307.74

AddedApr 15

Days on Market93

Last RefreshJul 15 at 1:19 am

Property Features for 400 South Wells Avenue

General Information

Standard status: Active
Size: 9,586 SF
Property subtype: Retail

Listing office CBRE | Reno

Listing date Apr 15, 2026

Source Cbre

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.

Located in the Wells district, this two-story, fully renovated building offers a boutique office, retail, and flex space. The contemporary build-out features abundant natural light and outdoor patio spaces. Situated on a major thoroughfare, the property provides convenient access to Downtown and the I80 and I580 Freeways. The building is surrounded by a variety of restaurant and retail amenities and is located directly across the street from Stewart Park. The property size is 9586 square feet.

Key Highlights

Fully renovated, two‑story boutique office/retail/flex building.
Excellent owner‑user opportunity.
Abundant natural light and outdoor patio spaces.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $169,455 @ 7.0% cap · market cap 5.74%

Second Best

Mixed Use

$2.00M

$1.75M – $2.33M (±1% cap)

NOI $139,890 @ 7.0% cap · market cap 4.74%

Theoretical Best

Office A

$2.95M

$2.59M – $3.45M (±1% cap)

NOI $206,800 @ 7.0% cap · market cap 7.01%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

HD Ships Logistics Company FormGrey Studio LLC Architecture Firm

Suggested Use

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For sale
Mixed-use properties
NV
Reno
89502
400 South Wells Avenue

What type of property is this?

Mixed-use property - Two-story renovated building in the Wells district, excellent user opportunity.

Where is this mixed-use property located?

The property is located at 400 South Wells Avenue Reno, NV.

What is the asking price?

The asking price for this property is $2,950,000.

What are key features of this property?

This property features: Fully renovated, two‑story boutique office/retail/flex building.; Excellent owner‑user opportunity.; Abundant natural light and outdoor patio spaces.