Downtown Reno Office
For Sale
Contact for pricing
604 Lander St, Reno, NV 89509
Two-story office building in Downtown Reno's vibrant submarket.
Property Size3,290 SF
Price / SF$288.75
Days on Market755
Property Features for 604 Lander St
General Information
Standard status
Active
Size
3,290 SF
Property subtype
Office
Zoning
PO
Investment Type
Owner/User
Building Details
Year Built
1917
Year Renovated
1947
Buildings
1
Stories
2
Listing Agency:
Colliers - Reno, Nevada
Listed By:
Melissa Molyneaux · License #NV BS.0144599
(775) 823-4674
Source:
Crexi
Added: Sep 30, 2024
Changed: Oct 15
Last Checked: Oct 23 at 5:45AM
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, Nevada
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Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,158
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,163,160
$1.2M
Cap Rate 7%
$830,829
$830.8K
Cap Rate 9%
$646,200
$646.2K
Market Conditions
NOI Build-Up for 3,290 SF
Gross rent
$95.1K $28.92/SF
− Vacancy
−$17.6K −$5.35/SF
EGI
$77.5K $23.57/SF
− OpEx
−$19.4K −$5.89/SF
NOI
$58.2K $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%
$1,163,160
Cap Rate 7%
$830,829
Cap Rate 9%
$646,200
Alternative Uses
Best Use
Office B
$830.8K
$727.0K – $969.3K
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
NOI $70,976 @ 7.0% cap · market cap 7.47%
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
4,805
Businesses Nearby
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
Frequently Asked Questions
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.
