Two-Level Office Suite with
For Sale
$1,595,000
441 Plumb Lane, Reno, NV 89509
Office suite with a finished lower level, private office and restroom, plus a rare three-car garage.
Property Size4,562 SF
Price / SF$349.63
Days on Market24
Property Features for 441 Plumb Lane
General Information
Standard status
Active
Size
4,562 SF
Total Parking Spaces
3
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$7,585
Amenities
Central Air
3
Carpet
Carbon Monoxide Detector
Tile, Pitched
Parking.
11 Parking Spaces. Assigned Parking Space, On Site, Lot, Paved Driveway.
Level
0.11
Public Roads, Paved Road, Level.
Building Details
Year Built
1986
Stories
1
Listing Agency:
The Agency Reno
(775) 881-8234
Listed By:
Monira West
(775) 881-8234
Source:
Xome
Added: Jul 19
Changed: Aug 8
Last Checked: Aug 11 at 4:55AM
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 The Agency Reno
Investment Insights
Based on property information with market context.
Located in Southwest Professional Centre, this 4,562-square-foot office suite is designed for professional day-to-day operations with a practical interior layout, generous office space, and abundant storage. The property also includes a fully finished lower level featuring a private office and restroom, which can support additional workspace or other business needs requiring separation of areas.
The suite is offered for sale at 441 W Plumb Lane in Reno, NV. The property’s standout feature is a rare three-car garage, providing secure parking and additional space for vehicles or storage.
All furnishings may be available separately. Buyers and the buyer’s agent are advised to verify all information, and agents are asked to review the private remarks.
The suite is offered for sale at 441 W Plumb Lane in Reno, NV. The property’s standout feature is a rare three-car garage, providing secure parking and additional space for vehicles or storage.
All furnishings may be available separately. Buyers and the buyer’s agent are advised to verify all information, and agents are asked to review the private remarks.
Key Highlights
- 4,562 SF office in the Southwest Professional Centre
- Finished lower level includes a private office and restroom
- Rare three‑car garage provides secure parking and extra storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,644
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,612,880
$1.6M
Cap Rate 7%
$1,152,057
$1.2M
Cap Rate 9%
$896,044
$896.0K
Market Conditions
NOI Build-Up for 4,562 SF
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.
Gross rent
$131.9K $28.92/SF
− Vacancy
−$24.4K −$5.35/SF
EGI
$107.5K $23.57/SF
− OpEx
−$26.9K −$5.89/SF
NOI
$80.6K $17.68/SF
Area
Reno, NV
Vacancy
18.50%
Lease Rate
$28.92 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,612,880
Cap Rate 7%
$1,152,057
Cap Rate 9%
$896,044
Alternative Uses
Best Use
Office B
$1.15M
$1.01M – $1.34M
NOI $80,644 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,417 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,726
Businesses Nearby
Explore this area
Business Placement
Demographics for 89509, NV
34,817
Population
18,290
Households
1.9
Avg Household Size
44
Median Age
50%
College-Educated
95%
High-School Grad
8.8 sq mi
ZIP Area
3,956
Density / Sq Mi
$81,751
Median Household Income
$47,546
Median Earnings
$1,443
Median Rent
$670,700
Median Home Value
Market
Vacancy Rate% for Office in Reno, NV
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite with a finished lower level, private office and restroom, plus a rare three-car garage.
Where is this office units located?
The property is located at 441 Plumb Lane Reno, NV.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 4,562 SF office in the Southwest Professional Centre; Finished lower level includes a private office and restroom; Rare three‑car garage provides secure parking and extra storage
