Remodeled Office
For Sale
$525,000
Pending
463 Moran Street lot N/W Corner Of Wells And Moran Street, Reno, NV 89502
Commercial Sale, Reno, NV
Property Size2,152 SF
Lot Size0.02 Acres
Days on Market375
Property Features for 463 Moran Street lot N/W Corner Of Wells And Moran Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
GC
Parking
12
Parking features
Parking Lot, Paved or Surfaced
Window features
Vinyl Frames, Single Pane Window(s)
Fencing
Fenced
Basement
Unfinished
Subdivision
Wells Addition
Lot features
Corner Lot, Level, Open Lot
Standard status
Pending
APN
013-014-02
Size
2,152 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
2297
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Hot Water(Heating), Electric (Heating)
Cooling system
Evaporative Cooling
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
1
Flooring type
Tile - Ceramic
Building materials
Brick, Concrete, Exterior Duct-Work is Insulated
Roof type
Shingle, Composition
Listing Agency:
Ferrari-Lund Real Estate Reno
(775) 688-4000
Listed By:
Jamie Nelson · License #S.174113
(760) 390-4722
Added: Aug 21, 2025
Changed: Aug 20
Last Checked: Aug 30 at 4:06PM
MLS# 250054928
Copyright © 2026 Northern Nevada Regional MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,152-square-foot office building was constructed in 1940 and has been remodeled with hardwood plank flooring, ceramic tile in the bathroom, fresh paint, and new windows. The property includes basement access through the garage, forced-air and hot-water heating, electric heat, and evaporative cooling. Brick and concrete construction, insulated exterior duct-work, and a shingle composition roof complete the building improvements.
The property occupies 0.02 acres at the northwest corner of Wells and Moran Street in Reno’s Midtown district. A fenced, paved parking lot provides on-site parking, while public water and public sewer serve the property. Zoning is GC, and cable is available. The surrounding Midtown area includes locally owned shops, restaurants, art galleries, historic buildings, and art walks, with a location south of downtown Reno.
The property occupies 0.02 acres at the northwest corner of Wells and Moran Street in Reno’s Midtown district. A fenced, paved parking lot provides on-site parking, while public water and public sewer serve the property. Zoning is GC, and cable is available. The surrounding Midtown area includes locally owned shops, restaurants, art galleries, historic buildings, and art walks, with a location south of downtown Reno.
Key Highlights
- 2,152 square feet of usable office space
- Remodeled with hardwood plank flooring, ceramic tile, fresh paint, and new windows
- 0.02‑acre property at the northwest corner of Wells and Moran Street
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
$38,042
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
7.25%
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%
$760,840
$760.8K
Cap Rate 7%
$543,457
$543.5K
Cap Rate 9%
$422,689
$422.7K
Market Conditions
NOI Build-Up for 2,152 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
$62.2K $28.92/SF
− Vacancy
−$11.5K −$5.35/SF
EGI
$50.7K $23.57/SF
− OpEx
−$12.7K −$5.89/SF
NOI
$38.0K $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%
$760,840
Cap Rate 7%
$543,457
Cap Rate 9%
$422,689
Alternative Uses
Best Use
Office B
$543.5K
$475.5K – $634.0K
NOI $38,042 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$663.2K
$580.3K – $773.8K
NOI $46,425 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,603
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 Office in Reno, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Brick construction, fenced paved parking, basement garage access, and public water and sewer support the property’s commercial configuration.
Where is this office building located?
The property is located at 463 Moran Street lot N/W Corner Of Wells And Moran Street Reno, NV.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,152 square feet of usable office space; Remodeled with hardwood plank flooring, ceramic tile, fresh paint, and new windows; 0.02‑acre property at the northwest corner of Wells and Moran Street
