Leased Medical Office with Two
For Sale
Contact for pricing
5060 Meadowood Mall Cir, Reno, NV 89502
Fully leased NNN medical office property with two suites, including an 806 SF surgery center.
Property Size9,704 SF
Lot Size0.75 Acres
Price / SF$618.30
Days on Market209
Property Features for 5060 Meadowood Mall Cir
General Information
Standard status
Active
Size
9,704 SF
Lot size
0.75 Acres
Property subtype
OFFICE
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
2
Building Details
Year Built
1983
Tenancy
Multi
Listing Agency:
Colliers | Reno
(775) 823-9666
Listed By:
Melissa Molyneaux, CCIM, SIOR
(775) 762-7990
Source:
Moodyscre
Added: Feb 24
Changed: Sep 15
Last Checked: Sep 21 at 3:45AM
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 Colliers | Reno
Investment Insights
Based on property information with market context.
5060 Meadowood Mall Circle is a fully leased, NNN medical office property built in 1983 with recent major remodels to both medical office suites. The building includes two tenants: Renew MD and Talbott Plastic Surgery. Within Talbott Plastic Surgery’s space, a recently constructed 806 SF surgery center is located inside the suite.
The property is positioned on S. McCarran Boulevard with easy access to S. Virginia Street and I-580, and it is situated just north of Meadowood Mall. It is across from Meadowood Mall, a one-level super-regional mall in Reno managed by Simon Property Group.
The offering includes additional shared parking with the neighboring bank building. The leases feature annual increases in base rent and include NNN terms with expenses passed through to the tenants.
The property is positioned on S. McCarran Boulevard with easy access to S. Virginia Street and I-580, and it is situated just north of Meadowood Mall. It is across from Meadowood Mall, a one-level super-regional mall in Reno managed by Simon Property Group.
The offering includes additional shared parking with the neighboring bank building. The leases feature annual increases in base rent and include NNN terms with expenses passed through to the tenants.
Key Highlights
- Fully leased NNN medical office investment with 2 suites: Renew MD and Talbott Plastic Surgery.
- Talbott Plastic Surgery built an 806 SF surgery center within their suite.
- 2026 estimated NOI: $262,351; generating over $262,000 per year in net income.
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
$171,541
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
2.86%
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%
$3,430,820
$3.4M
Cap Rate 7%
$2,450,586
$2.5M
Cap Rate 9%
$1,906,011
$1.9M
Market Conditions
NOI Build-Up for 9,704 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
$280.6K $28.92/SF
− Vacancy
−$51.9K −$5.35/SF
EGI
$228.7K $23.57/SF
− OpEx
−$57.2K −$5.89/SF
NOI
$171.5K $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%
$3,430,820
Cap Rate 7%
$2,450,586
Cap Rate 9%
$1,906,011
Alternative Uses
Best Use
Office B
$2.45M
$2.14M – $2.86M
NOI $171,541 @ 7.0% cap · market cap 2.86%
Second Best
Healthcare Medical
$2.15M
$1.88M – $2.51M
NOI $150,728 @ 7.0% cap · market cap 2.51%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,346 @ 7.0% cap · market cap 3.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,183
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Reno, NV
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased NNN medical office property with two suites, including an 806 SF surgery center.
Where is this medical office space located?
The property is located at 5060 Meadowood Mall Cir Reno, NV.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Fully leased NNN medical office investment with 2 suites: Renew MD and Talbott Plastic Surgery.; Talbott Plastic Surgery built an 806 SF surgery center within their suite.; 2026 estimated NOI: $262,351; generating over $262,000 per year in net income.
