Medical Office Opportunity For
For Sale
Contact for pricing
521 Hammill Lane, Reno, NV 89509
Medical office building in a central, accessible location.
Property Size7,385 SF
Price / SF$473.93
Days on Market152
Property Features for 521 Hammill Lane
General Information
Standard status
Active
Size
7,385 SF
Class
B
Property subtype
Office
Zoning
PO
Investment Type
Owner/User
Building Details
Year Built
1998
Listing Agency:
Logic Commercial Real Estate Reno
Listed By:
Landon Gonzalez · License #NV S.0179599
(775) 741-6397
Source:
Crexi
Added: May 15
Changed: Oct 13
Last Checked: Oct 12 at 6:46PM
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.
This is an owner-user medical office opportunity, to be delivered vacant. The building is currently occupied. It is well located in an easily accessible and central location. The property size is 7385 square feet.
Key Highlights
- Owner‑user opportunity: Ideal for a medical practice seeking its own space.
- To be delivered vacant: Ready for immediate occupancy and customization.
- Well located in easily accessible and central location: Convenient for patients and staff.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,547
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,610,940
$2.6M
Cap Rate 7%
$1,864,957
$1.9M
Cap Rate 9%
$1,450,522
$1.5M
Market Conditions
NOI Build-Up for 7,385 SF
Gross rent
$213.6K $28.92/SF
− Vacancy
−$39.5K −$5.35/SF
EGI
$174.1K $23.57/SF
− OpEx
−$43.5K −$5.89/SF
NOI
$130.5K $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 Rate 5%
$2,610,940
Cap Rate 7%
$1,864,957
Cap Rate 9%
$1,450,522
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.18M
NOI $130,547 @ 7.0% cap · market cap 3.73%
Second Best
Healthcare Medical
$1.64M
$1.43M – $1.91M
NOI $114,708 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,317 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,300
Businesses Nearby
Well-served
Demand for This Use
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
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 - Medical office building in a central, accessible location.
Where is this medical office space located?
The property is located at 521 Hammill Lane Reno, NV.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Owner‑user opportunity: **Ideal for a medical practice seeking its own space.**; To be delivered vacant: **Ready for immediate occupancy and customization.**; Well located in easily accessible and central location: Convenient for patients and staff.
