Renovated Mixed-Use
For Sale
Contact for pricing
855 MILL ST, Reno, NV 89502
Fully leased commercial property with recent renovation and access to downtown Reno and major transportation routes.
Property Size7,304 SF
Price / SF$376.51
Days on Market54
Property Features for 855 MILL ST
General Information
Standard status
Active
Size
7,304 SF
Property subtype
Retail, Office
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$178,800
Building Details
Year Built
1980
Stories
2
Units
5
Tenancy
Single
Listing Agency:
ArchCrest Commercial Partners LLC
Listed By:
Kevin Annis SIOR, CCIM · License #NV 1000617
Source:
Crexi
Added: Aug 24
Changed: Oct 10
Last Checked: Oct 14 at 8:15PM
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
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Investment Insights
Based on property information with market context.
Located at 855 Mill St in Reno, this mixed-use commercial property contains 7,304 square feet and was built in 1980. The building recently received an extensive renovation and is currently 100% leased, providing an established occupancy profile for a commercial buyer.
The property sits along the Mill Street corridor near the main Renown Campus, with convenient connections to downtown Reno and major transportation routes. Residential and commercial development surrounds the corridor, adding context for the site’s central urban placement. Its proximity to ongoing activity and revitalization in the Reno market further defines the property’s setting.
The property sits along the Mill Street corridor near the main Renown Campus, with convenient connections to downtown Reno and major transportation routes. Residential and commercial development surrounds the corridor, adding context for the site’s central urban placement. Its proximity to ongoing activity and revitalization in the Reno market further defines the property’s setting.
Key Highlights
- 7,304‑square‑foot mixed‑use commercial property
- 100% leased occupancy
- Recently completed extensive renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,115
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,582,300
$2.6M
Cap Rate 7%
$1,844,500
$1.8M
Cap Rate 9%
$1,434,611
$1.4M
Market Conditions
NOI Build-Up for 7,304 SF
Gross rent
$211.2K $28.92/SF
− Vacancy
−$39.1K −$5.35/SF
EGI
$172.2K $23.57/SF
− OpEx
−$43.0K −$5.89/SF
NOI
$129.1K $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%
$2,582,300
Cap Rate 7%
$1,844,500
Cap Rate 9%
$1,434,611
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.15M
NOI $129,115 @ 7.0% cap · market cap 4.70%
Second Best
Mixed Use
$1.52M
$1.33M – $1.78M
NOI $106,588 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,570 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Reno, NV
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased commercial property with recent renovation and access to downtown Reno and major transportation routes.
Where is this mixed-use property located?
The property is located at 855 MILL ST Reno, NV.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 7,304‑square‑foot mixed‑use commercial property; 100% leased occupancy; Recently completed extensive renovation
