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    1678 Virginia St Reno, NV 89512

    Sponsored
    For Sale
    $1,575,000

    Prime location, development potential, vacant.

    Property size:
    2,222 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.34-acre property, located at 1678 N Virginia St in Reno, Nevada, 89512, presents a unique investment opportunity near the University of Nevada, Reno. The property currently features a 2,222 square foot, two-story building, situated in a vibrant area with approximately 24,000 students. The property is vacant and offers significant flexibility for redevelopment or continued use. Zoned MU UNR PF (Public Facilities), permitted uses include, but are not limited to: duplexes, fourplexes, medical facilities, schools, daycare centers, general offices, urban farms, and parking lots. The asking price is $1,575,000, translating to $708.82 per square foot. The property's location within an Opportunity Zone adds further investment appeal. Comparable land sales across the street have ranged from $90 to $103 per square foot, indicating strong potential for future appreciation. This property is ideal for investors seeking a high-growth area with diverse development possibilities. Detailed zoning information is available via the provided link in the original listing. This is a rare chance to acquire a strategically located property with significant upside potential in a thriving university community.

    Property Features for 1678 Virginia St

    General Information

    Property type
    Schools
    Square Feet
    2,222 SF
    Lot Size
    14,810 SF

    Building Details

    Buildings
    1
    Stories
    2
    Units
    1

    HighLights

    • For Sale or Land Lease near University of Nevada, Reno.
    • Excellent student housing site near 24,000 students.
    • Located in an Opportunity Zone.
    • Comparable land sales across the street fetched $90-$103/SF.
    • Permitted uses include duplexes, fourplexes, medical facilities, schools, daycares, general offices, urban farms, and parking lots.
    Property Profile Location Intelligence

    Current Use by Public Records

    Schools

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Clothing Store Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.82149590511
    Latitude
    39.548812580973

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    FAQs

    What type of property is this?
    School - Prime location, development potential, vacant.
    Where is this school located?
    The property is located at 1678 Virginia St Reno, NV.
    What is the asking price?
    The asking price for this property is $1,575,000.
    What are key features of this property?
    This property features: For Sale or Land Lease near University of Nevada, Reno.; Excellent student housing site near 24,000 students.; Located in an Opportunity Zone.
    Request Owner's contact information
    1678 Virginia St 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
    1678 Virginia St Reno, NV 89512
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