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Downtown Reno Office Building

604 Lander St, Reno, NV 89509

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For Sale

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Two-story office building in Downtown Reno's vibrant submarket.

Type:Office

Property size:

3,290 SF

Price / SF:

$288/SF

HighLights

Prime Downtown Reno location near courthouses, financial district, entertainment, restaurants, retail, and housing.
Charming two‑story building with a fully finished basement.
Abundance of windows providing natural light.
Brick exterior offering timeless elegance.
Meticulously crafted landscaping.
Corner lot location.

We can help!

Listing Contact

Melissa Molyneaux

For Sale

Contact for pricing

Two-story office building in Downtown Reno's vibrant submarket.

Type:Office

Property size:

3,290 SF

Price / SF:

$288/SF

Added:: Sep 30, 2024
Days on Market:: 619
Last Refresh:: May 12 at 9:25 pm

Property Features for 604 Lander St

General Information

Standard status: Active
Size: 3,290 SF
Property subtype: Office

Building Details

Year Built: 1917

We can help!

Listing Contact

Melissa Molyneaux

Listing agent Melissa Molyneaux License #NV BS.0144599

Listing office Colliers - Reno, Nevada

Listing date Sep 30, 2024

Source Crexi

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, Nevada

HighLights

Prime Downtown Reno location near courthouses, financial district, entertainment, restaurants, retail, and housing.
Charming two‑story building with a fully finished basement.
Abundance of windows providing natural light.
Brick exterior offering timeless elegance.
Meticulously crafted landscaping.
Corner lot location.

Overview

Located on a corner lot in the Downtown submarket of Reno, Nevada, the property at 604 Lander Street is a two-story building with a fully finished basement. Constructed in 1917, the building features a brick exterior and numerous windows that provide natural light. The location is near courthouses, the financial district, entertainment venues, restaurants, retail shops, and housing. The property includes landscaping and is suited for professional office use. The building has a size of 3290 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$95.1k	$28.92
− Vacancy	−$17.6k	−$5.35
EGI	$77.5k	$23.57
− OpEx	−$19.4k	−$5.89
NOI	$58.2k	$17.68

3,290 SF · lease $28.92/SF/yr · vacancy 18.50% · expense 25.00%

Alternative Uses

Best Use

Office B

$830.8K

$727.0K – $969.3K (±1% cap)

NOI $58,158 @ 7.0% cap · market cap 6.12%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.01M

$887.2K – $1.18M (±1% cap)

NOI $70,976 @ 7.0% cap · market cap 7.47%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Office buildings

Suggested Use

Location Insight

Map
Local Demand

City: Reno
County: Washoe
State: Nevada
Longitude: -119.8151507
Latitude: 39.5188681

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For sale
Office buildings
NV
Reno
89509
604 Lander St

What type of property is this?

Office building - Two-story office building in Downtown Reno's vibrant submarket.

Where is this office building located?

The property is located at 604 Lander St Reno, NV.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Prime Downtown Reno location near courthouses, financial district, entertainment, restaurants, retail, and housing.; Charming two‑story building with a fully finished basement.; Abundance of windows providing natural light.