Updated 4-Unit
For Sale
Contact for pricing
Pending
444 Roberts St, Reno, NV 89502
Four-unit multifamily property with renovated interiors and systems in walkable Midtown Reno.
Property Size2,463 SF
Days on Market258
Property Features for 444 Roberts St
General Information
Standard status
Pending
Size
2,463 SF
Class
B
Property subtype
Multifamily
Zoning
GC
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$61,697
Additional Details
Multifamily Units
4
Building Details
Year Built
1910
Year Renovated
2020
Buildings
1
Stories
2
Units
4
Listing Agency:
Marmot Properties, Llc
(775) 313-1544
Listed By:
Batuhan Zadeh · License #NV BS.145130
Source:
Crexi
Added: Dec 15, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:56AM
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 Marmot Properties, Llc
Investment Insights
Based on property information with market context.
Built in 1910, this four-unit multifamily property combines historic character with updated interiors and systems. The building contains 2,463 square feet and is zoned GC, offering a compact residential income configuration in an established urban setting.
The property is located in Midtown Reno, described as a walkable area with nearby restaurants, coffee shops, retail, and arts destinations. Its setting places everyday amenities within the surrounding neighborhood while retaining the character of an older Reno building.
The property is located in Midtown Reno, described as a walkable area with nearby restaurants, coffee shops, retail, and arts destinations. Its setting places everyday amenities within the surrounding neighborhood while retaining the character of an older Reno building.
Key Highlights
- Four‑unit multifamily property
- 2,463 square feet
- Built in 1910
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
$36,641
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
3.35%
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%
$732,820
$732.8K
Cap Rate 7%
$523,443
$523.4K
Cap Rate 9%
$407,122
$407.1K
Market Conditions
NOI Build-Up for 2,463 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
$54.7K $22.20/SF
− Vacancy
−$2.3K −$0.95/SF
EGI
$52.3K $21.25/SF
− OpEx
−$15.7K −$6.38/SF
NOI
$36.6K $14.88/SF
Area
Reno, NV
Vacancy
4.27%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$732,820
Cap Rate 7%
$523,443
Cap Rate 9%
$407,122
Alternative Uses
Best Use
Multifamily LT 5
$523.4K
$458.0K – $610.7K
NOI $36,641 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$454.6K
$397.8K – $530.4K
NOI $31,825 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$759.1K
$664.2K – $885.6K
NOI $53,135 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
5,456
Businesses Nearby
Explore this area
Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property with renovated interiors and systems in walkable Midtown Reno.
Where is this quadplex located?
The property is located at 444 Roberts St Reno, NV.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 2,463 square feet; Built in 1910
