Remodeled Office
For Sale
Contact for pricing
675 SIERRA ROSE DR, Reno, NV 89511
Flexible office layout includes conference and breakroom areas with extensive natural light.
Property Size7,398 SF
Price / SF$450.12
Days on Market126
Property Features for 675 SIERRA ROSE DR
General Information
Standard status
Active
Size
7,398 SF
Class
A
Property subtype
Office
Investment Type
Owner/User
Net Operating Income
$156,000
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
skylights
breakroom
conference rooms
Building Details
Year Built
2000
Buildings
1
Stories
1
Units
26
Listing Agency:
ArchCrest Commercial Partners LLC
Listed By:
Kevin Annis SIOR, CCIM · License #NV 1000617
Source:
Crexi
Added: Apr 29
Changed: Aug 30
Last Checked: Aug 30 at 2:54PM
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 ArchCrest Commercial Partners LLC
Investment Insights
Based on property information with market context.
This 7,398 SF office building, completed in 2000, has undergone an extensive remodel. The interior includes 14 offices, a large breakroom, and as many as 4 conference rooms configured for adaptable workplace use. Skylights and solar tube lighting supplement daylight throughout the building, while floor-to-ceiling windows and storefront-style entries extend natural light across the office areas.
The property is accessible from McCarran Boulevard, Kietzke Lane, and U.S. 580, with connections to I-580 and I-80. Retail amenities are nearby, and the building is also close to Rancharrah, a development containing residential, retail, and office components.
The property is accessible from McCarran Boulevard, Kietzke Lane, and U.S. 580, with connections to I-580 and I-80. Retail amenities are nearby, and the building is also close to Rancharrah, a development containing residential, retail, and office components.
Key Highlights
- 7,398 SF office building completed in 2000
- Extensive remodel with skylights and solar tube lighting
- 14 offices with up to 4 conference rooms
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
$130,777
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
3.93%
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%
$2,615,540
$2.6M
Cap Rate 7%
$1,868,243
$1.9M
Cap Rate 9%
$1,453,078
$1.5M
Market Conditions
NOI Build-Up for 7,398 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
$214.0K $28.92/SF
− Vacancy
−$39.6K −$5.35/SF
EGI
$174.4K $23.57/SF
− OpEx
−$43.6K −$5.89/SF
NOI
$130.8K $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%
$2,615,540
Cap Rate 7%
$1,868,243
Cap Rate 9%
$1,453,078
Alternative Uses
Best Use
Office B
$1.87M
$1.63M – $2.18M
NOI $130,777 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,598 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,101
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 - Flexible office layout includes conference and breakroom areas with extensive natural light.
Where is this office building located?
The property is located at 675 SIERRA ROSE DR Reno, NV.
What is the asking price?
The asking price for this property is $3,330,000.
What are key features of this property?
This property features: 7,398 SF office building completed in 2000; Extensive remodel with skylights and solar tube lighting; 14 offices with up to 4 conference rooms
