Standalone Medical Office
For Sale
Contact for pricing
855 W 7th St, Reno, NV 89503
Standalone medical office building with extensive medical and dental buildout, private parking, and freeway visibility.
Property Size14,588 SF
Price / SF$196.39
Days on Market84
Property Features for 855 W 7th St
General Information
Standard status
Active
Size
14,588 SF
Property subtype
OFFICE
Building Details
Buildings
1
Listing Agency:
Logic Commercial Real Estate | Reno
(775) 800-4100
Listed By:
Mike Keating
(775) 386-9727
Source:
Moodyscre
Added: Jun 30
Changed: Sep 15
Last Checked: Sep 20 at 11:59AM
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 Logic Commercial Real Estate | Reno
Investment Insights
Based on property information with market context.
855 W. 7th Street is a standalone medical office building featuring an extensive medical and dental buildout designed for healthcare use. The property includes a private parking lot, supporting on-site patient and staff parking.
The building is located near UNR and downtown Reno, with freeway visibility that can help drive awareness for prospective patients and visitors.
This is a single-asset medical office offering that may fit both owner-users and investors seeking an established healthcare-focused improvement.
The building is located near UNR and downtown Reno, with freeway visibility that can help drive awareness for prospective patients and visitors.
This is a single-asset medical office offering that may fit both owner-users and investors seeking an established healthcare-focused improvement.
Key Highlights
- Standalone medical office building with extensive medical and dental buildout
- Private parking lot on‑site
- Freeway visibility
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
$257,877
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
9.00%
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%
$5,157,540
$5.2M
Cap Rate 7%
$3,683,957
$3.7M
Cap Rate 9%
$2,865,300
$2.9M
Market Conditions
NOI Build-Up for 14,588 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
$421.9K $28.92/SF
− Vacancy
−$78.0K −$5.35/SF
EGI
$343.8K $23.57/SF
− OpEx
−$86.0K −$5.89/SF
NOI
$257.9K $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%
$5,157,540
Cap Rate 7%
$3,683,957
Cap Rate 9%
$2,865,300
Alternative Uses
Best Use
Office B
$3.68M
$3.22M – $4.30M
NOI $257,877 @ 7.0% cap · market cap 9.00%
Second Best
Healthcare Medical
$3.24M
$2.83M – $3.78M
NOI $226,589 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$4.50M
$3.93M – $5.25M
NOI $314,709 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,117
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 89503, NV
28,737
Population
13,938
Households
2.1
Avg Household Size
33
Median Age
36%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
4,635
Density / Sq Mi
$66,956
Median Household Income
$37,352
Median Earnings
$1,336
Median Rent
$441,800
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Standalone medical office building with extensive medical and dental buildout, private parking, and freeway visibility.
Where is this medical office space located?
The property is located at 855 W 7th St Reno, NV.
What is the asking price?
The asking price for this property is $2,865,000.
What are key features of this property?
This property features: Standalone medical office building with extensive medical and dental buildout; Private parking lot on‑site; Freeway visibility
