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    924 Virginia St Reno, NV 89502

    Sponsored
    For Sale
    $1,700,000

    5,864 SF Office, Vacant, Opportunity Zone

    Property size:
    5,864 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located in Reno's vibrant Midtown district at 924 S Virginia St, presents a compelling owner-user or redevelopment opportunity. The 5,864 square-foot, single-story building, constructed in 1960 and renovated in 1980, sits on a sizable 18,032 square-foot lot (APN: 011-334-16, 011-334-17 & 011-334-04) encompassing the main building and two adjacent parcels totaling 0.414 acres of land. Currently vacant, this property offers significant potential. The building features ample natural light from skylights throughout. The roof underwent an overlay installation approximately in 2020. This prime location boasts proximity to over 250 businesses, including numerous restaurants, bars, and shops. A key advantage is the existing supplemental income generated from the parking lots, currently yielding $1,000 per month. The property is zoned MU-MC (Mixed-Use Midtown Commercial) and is designated as a Qualified Opportunity Zone, presenting attractive investment incentives. This offering includes the main office building (approximately 5,864 square feet on a 9,757 square-foot lot), and two additional parcels (approximately 4,791 and 3,484 square feet respectively). The asking price is $1,700,000.

    Property Features for 924 Virginia St

    General Information

    Property type
    Office space
    Square Feet
    5,864 SF

    Building Details

    Year Built/Renovated
    1960/1980
    Buildings
    1
    Stories
    1

    HighLights

    • Excellent owner‑user or redevelopment opportunity.
    • 5,864 SF single‑story building, Midtown Reno location, built 1960, remodeled mid‑1980s.
    • South Virginia Street location, near South Center Street, includes 0.414‑acre parking lot.
    • Located in a Qualified Opportunity Zone (QOZ).
    • Generates supplemental parking income ($1,000/month).
    • Roof overlay installed approximately 2020.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pangborn & Co Ltd Tax Preparation Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8079644
    Latitude
    39.5161488

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    FAQs

    What type of property is this?
    Office space - 5,864 SF Office, Vacant, Opportunity Zone
    Where is this office space located?
    The property is located at 924 Virginia St Reno, NV.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: Excellent owner-user or redevelopment opportunity.; 5,864 SF single-story building, Midtown Reno location, built 1960, remodeled mid-1980s.; South Virginia Street location, near South Center Street, includes 0.414-acre parking lot.
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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
    924 Virginia St Reno, NV 89502
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