South Meadows Office Building For
For Sale
Contact for pricing
Pending
515 Double Eagle Ct, Reno, NV 89511
Two-story office building in Reno's South Meadows area.
Property Size14,169 SF
Days on Market663
Property Features for 515 Double Eagle Ct
General Information
Standard status
Pending
Size
14,169 SF
Class
B
Property subtype
Office
Zoning
PD
Investment Type
Stabilized
Building Details
Year Built
1998
Buildings
1
Stories
2
Units
1
Listing Agency:
Logic Commercial Real Estate Reno
(775) 386-9727
Listed By:
Michael Keating · License #NV# S.174942
Source:
Crexi
Added: Oct 29, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:06AM
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 Logic Commercial Real Estate Reno
Investment Insights
Based on property information with market context.
The property at 515 Double Eagle Ct. is a two-story office building located in the South Meadows area of Reno. Constructed in 1996 and extensively renovated in recent years, including a new roof in 2018, the building offers 14,169 square feet of flexible office space. It is suitable for a company headquarters, medical practice, or growing firm. The location provides exceptional freeway visibility from Hwy. 395 and easy access to major transportation routes. The property also features ample on-site parking and modern suite layouts. It is intended for firms needing a professional office space and is easily accessible for both clients and employees.
Key Highlights
- Exceptional freeway visibility from Hwy. 395
- Ample on‑site parking
- Extensively renovated in recent years, including a new roof in 2018
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
$250,470
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
6.68%
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%
$5,009,400
$5.0M
Cap Rate 7%
$3,578,143
$3.6M
Cap Rate 9%
$2,783,000
$2.8M
Market Conditions
NOI Build-Up for 14,169 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
$409.8K $28.92/SF
− Vacancy
−$75.8K −$5.35/SF
EGI
$334.0K $23.57/SF
− OpEx
−$83.5K −$5.89/SF
NOI
$250.5K $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%
$5,009,400
Cap Rate 7%
$3,578,143
Cap Rate 9%
$2,783,000
Alternative Uses
Best Use
Office B
$3.58M
$3.13M – $4.17M
NOI $250,470 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.37M
$3.82M – $5.09M
NOI $305,670 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,336
Businesses Nearby
Explore this area
Business Placement
Demographics for 89511, NV
29,143
Population
13,628
Households
2.1
Avg Household Size
48
Median Age
50%
College-Educated
96%
High-School Grad
131.6 sq mi
ZIP Area
221
Density / Sq Mi
$117,287
Median Household Income
$57,950
Median Earnings
$1,860
Median Rent
$903,300
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 building - Two-story office building in Reno's South Meadows area.
Where is this office building located?
The property is located at 515 Double Eagle Ct Reno, NV.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Exceptional freeway visibility from Hwy. 395; Ample on‑site parking; Extensively renovated in recent years, including a new roof in 2018
