Building Details

Year Built 1971

Buildings 3

Listing Agency: Sequoia Homes And Properties

Listed By: Thomas Rigdon · License #B.14695 Show Phone

Source: Ferrari-lund

Added: Jun 29 Changed: Oct 11 Last Checked: Oct 12 at 8:21PM

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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 Sequoia Homes And Properties

Investment Insights

Based on property information with market context.

This mixed-use property includes two buildings containing 11 residential apartments and a separate commercial building. The three-building asset totals 7214 square feet and is fully occupied. Capital improvements include new roofs, a new water system, a newly paved parking lot, cedar siding, and fencing.

The property occupies one full acre at 7350 4TH in Reno, with the Truckee River within a short walk. Constructed in 1971, the asset combines residential and commercial components within a single property.

Key Highlights

• 11 residential apartments across two buildings
• Separate third building designated for commercial use
• 7214 square feet across three buildings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,275

Cap Rate

4.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,105,500 $2.1M

Cap Rate 7%

$1,503,929 $1.5M

Cap Rate 9%

$1,169,722 $1.2M

Market Conditions

NOI Build-Up for 7,214 SF

Gross rent

$186.1K $25.80/SF

− Vacancy

−$17.7K −$2.45/SF

EGI

$168.4K $23.35/SF

− OpEx

−$63.2K −$8.76/SF

NOI

$105.3K $14.59/SF

Area

Reno, NV

Vacancy

9.50%

Lease Rate

$25.80 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,105,500

Cap Rate 7%

$1,503,929

Cap Rate 9%

$1,169,722

Alternative Uses

Best Use

Mixed Use

$1.50M

$1.32M – $1.75M (±1% cap)

NOI $105,275 @ 7.0% cap · market cap 4.68%

Second Best

Apartment 5plus

$1.33M

$1.17M – $1.55M (±1% cap)

NOI $93,213 @ 7.0% cap · market cap 4.14%

Theoretical Best

Office A

$2.22M

$1.95M – $2.59M (±1% cap)

NOI $155,628 @ 7.0% cap · market cap 6.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Kathryn Hill Medical Clinic Massey Co (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Dental Office Auto Repair Shop Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

11

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

150

Businesses Nearby

Explore this area Business Placement

Demographics for 89523, NV

36,646

Population

16,662

Households

2.2

Avg Household Size

40

Median Age

46%

College-Educated

96%

High-School Grad

18.9 sq mi

ZIP Area

1,939

Density / Sq Mi

$97,384

Median Household Income

$50,637

Median Earnings

$1,759

Median Rent

$569,300

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Fully occupied three-building asset with upgraded roofs, water system, paving, siding, and fencing.

Where is this mixed-use property located?

The property is located at 7350 4TH Reno, NV.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: 11 residential apartments across two buildings; Separate third building designated for commercial use; 7214 square feet across three buildings