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    Mica Pl Reno, NV 89503

    Sponsored
    For Sale
    $2,880,000

    14.92 Acres, 192 Unit Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 14.92-acre land parcel in Reno, Nevada, presents a prime opportunity for multifamily development. Located in Washoe County, near the University of Nevada Reno and Truckee Meadows Community College, this property boasts a highly desirable location with strong potential for student, market-rate, or affordable housing. The site, previously known as The Grove, has already received approval for 192 multifamily units, significantly streamlining the development process. The property's APN is 003-050-02, and it's zoned GC, making it ideally suited for residential construction. Detailed geotechnical and environmental reports are available for review, providing comprehensive due diligence information. The asking price for this exceptional development opportunity is $2,880,000. Buyers are responsible for verifying all information. This is a rare chance to acquire a large, well-situated parcel with pre-approved plans, offering significant potential for substantial returns. The address is Mica Pl, Reno, NV 89503. The property's convenient location near two major educational institutions ensures high demand and strong rental potential. This is a truly unique opportunity for investors seeking a high-impact project in a thriving Nevada market.

    Property Features for 0 Mica Pl

    General Information

    Property type
    Land
    Lot Size
    649,959 SF

    HighLights

    • Previously approved for 192 multifamily units.
    • Ideal for market‑rate, student, or affordable housing.
    • Excellent location near University of Nevada Reno and Truckee Meadows Community College.
    • Comprehensive geotechnical and environmental reports available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.829405
    Latitude
    39.5588539

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    FAQs

    What type of property is this?
    Land - 14.92 Acres, 192 Unit Potential
    Where is this land located?
    The property is located at Mica Pl Reno, NV.
    What is the asking price?
    The asking price for this property is $2,880,000.
    What are key features of this property?
    This property features: Previously approved for 192 multifamily units.; Ideal for market-rate, student, or affordable housing.; Excellent location near University of Nevada Reno and Truckee Meadows Community College.
    (775) 356-6118
    Request Owner's contact information
    Mica Pl Reno, NV 89503
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    Reno, NV 89503
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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
    Mica Pl Reno, NV 89503
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