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    434 Highland Ave Reno, NV 89512

    Sponsored
    For Sale
    $18,500,000

    Prime UNR location, shovel-ready project

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 3.619-acre land parcel in Reno, Nevada (APN 007-083-60), is zoned MF30 and offers a fully permitted, high-density student housing development opportunity. Located a half-block from the University of Nevada, Reno (UNR), this shovel-ready project includes approved plans for 268 units totaling 945 beds. The assemblage of 11 prior parcels boasts completed design and inspections, ensuring a seamless transition to construction. Importantly, building permits were secured prior to recent zoning changes that are expected to prevent future high-density student housing projects of this scale near the university. This presents a unique value-added opportunity with significant potential for high returns. UNR's enrollment is projected to reach 25,000 students by 2030, creating strong demand for student housing. The property's location within a Qualified Opportunity Zone provides additional investment incentives. The asking price is $18,500,000.

    Property Features for 434 Highland Ave

    General Information

    Property type
    Land
    Lot Size
    157,644 SF

    HighLights

    • Excellent location immediately southeast of the University of Nevada, Reno (UNR).
    • Permit‑ready project, fully entitled for construction.
    • Strong demand driven by projected UNR enrollment growth to 23,000 students by 2025 and 25,000 by 2030.
    • High value‑add opportunity due to proximity to UNR and existing building permits for a 268‑unit, 945‑bed student housing development.
    • Consolidated assemblage of 11 parcels.
    • Rare opportunity due to recent zoning changes limiting future high‑density student housing development near UNR.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Spa & Massage Restaurant Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.80970760147
    Latitude
    39.54007917552

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    FAQs

    What type of property is this?
    Land - Prime UNR location, shovel-ready project
    Where is this land located?
    The property is located at 434 Highland Ave Reno, NV.
    What is the asking price?
    The asking price for this property is $18,500,000.
    What are key features of this property?
    This property features: Excellent location immediately southeast of the University of Nevada, Reno (UNR).; Permit-ready project, fully entitled for construction.; Strong demand driven by projected UNR enrollment growth to 23,000 students by 2025 and 25,000 by 2030.
    (775) 232-8551
    Request Owner's contact information
    434 Highland Ave Reno, NV 89512
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    Reno, NV 89512
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    434 Highland Ave Reno, NV 89512
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