Professional Office Building in
For Sale
Contact for pricing
5405 Mae Anne Ave, Reno, NV
Freestanding office building with recent improvements and flexible layout.
Property Size19,286 SF
Lot Size1.72 Acres
Price / SF$215
Days on Market419
Property Features for 5405 Mae Anne Ave
General Information
Standard status
Active
Size
19,286 SF
Lot size
1.72 Acres
Property subtype
OFFICE
Listing Agency:
Colliers | Reno
(775) 762-7990
Listed By:
Melissa Molyneaux, CCIM, SIOR · License #S.0200644
(775) 762-7990
Source:
Moodyscre
Added: Jul 8, 2025
Changed: Aug 23
Last Checked: Aug 29 at 12:13PM
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.
This professional office space is available for lease at 5405 Mae Anne Avenue in Northwest Reno. The property is part of a 19,286 square foot freestanding building situated on approximately 1.72 acres. The recently improved eastern wing features updated restrooms and new flooring. The eastern wing, comprising approximately 7,300 square feet, can be occupied independently from the western portion and is currently configured for single-tenant use, but can be easily modified to accommodate multiple tenants. Tenants have access to ample on-site parking at a ratio of 4.3 spaces per 1,000 square feet, with overflow spaces available via a supplemental parking lease. The building provides 10G internet connectivity through AT&T fiber and Spectrum, and offers scenic second-floor mountain views, and several private balconies. Zoned Professional Office (PO), with access from both Mae Anne Avenue and W 7th Street, this location supports a wide range of professional uses.
Key Highlights
- Recently improved eastern wing (approx. 7,300 SF) with updated restrooms and new flooring, leasable separately.
- Ample on‑site parking (4.3/1,000 SF) with overflow options.
- 10G internet connectivity (AT&T fiber and Spectrum).
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
$340,925
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
8.22%
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%
$6,818,500
$6.8M
Cap Rate 7%
$4,870,357
$4.9M
Cap Rate 9%
$3,788,056
$3.8M
Market Conditions
NOI Build-Up for 19,286 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
$557.8K $28.92/SF
− Vacancy
−$103.2K −$5.35/SF
EGI
$454.6K $23.57/SF
− OpEx
−$113.6K −$5.89/SF
NOI
$340.9K $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%
$6,818,500
Cap Rate 7%
$4,870,357
Cap Rate 9%
$3,788,056
Alternative Uses
Best Use
Office B
$4.87M
$4.26M – $5.68M
NOI $340,925 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.94M
$5.20M – $6.93M
NOI $416,059 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
Explore this area
Business Placement
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 - Freestanding office building with recent improvements and flexible layout.
Where is this office building located?
The property is located at 5405 Mae Anne Ave Reno, NV.
What is the asking price?
The asking price for this property is $4,146,490.
What are key features of this property?
This property features: Recently improved eastern wing (approx. 7,300 SF) with updated restrooms and new flooring, leasable separately.; Ample on‑site parking (4.3/1,000 SF) with overflow options.; 10G internet connectivity (AT&T fiber and Spectrum).
