Renovated Office/Retail/Flex
400 South Wells Avenue Reno, NV 89502
For Sale
$2,950,000
Two-story renovated building in the Wells district, excellent user opportunity.
Property Size9,586 SF
Price / SF$307.74
Days on Market102
Property Features for 400 South Wells Avenue
General Information
- Standard status
- Active
- Size
- 9,586 SF
- Property subtype
- Retail
Listing Agency:
CBRE - Reno
(775) 321-4459
Listed By:
David Woods · License #0072655
(775) 321-4459
Source:
Cbre
Added: Apr 15
Changed: Jul 10
Last Checked: Jul 25 at 2:37AM
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.
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 5.74%
Second Best
Mixed Use
$2.00M
$1.75M – $2.33M
NOI $139,890 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$2.95M
$2.59M – $3.45M
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
Architectural And Engineering Model Maker
FAQs
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.
