1225 Westfield Ave Reno, NV 89509
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High-yield medical office investment
Property size:
15,960 SFProperty Features for 1225 Westfield Ave
General Information
- Property type
- Medical Office Space
- Square Feet
- 15,960 SF
- Class
- C
- Lot Size
- 28,750 SF
Building Details
- Year Built
- 1963
- Buildings
- 1
- Stories
- 2
- Units
- 7
Listing Agent: Kevin Sigstad
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional two-story, 15,960 square foot medical office building in Reno, Nevada, presents a compelling investment opportunity. Priced at $3,400,000, it boasts a 7.02% cap rate and a strong net operating income of $238,847, reflecting a 94% occupancy rate. The property features four tenants, including a partial leaseback to Gerber Medical Clinic for three years (negotiable at closing), providing immediate and stable cash flow. Three smaller vacancies offer potential for NOI growth. Built in 1963, the Class C building sits on a 0.66-acre lot with 45 parking spaces and is zoned NC. The gross lease structure includes 3% annual rent bumps. The building comprises seven units across two stories and is located at 1225 Westfield Avenue, Reno, NV 89509, offering convenient access to California Avenue, Booth Street, downtown Reno, and the Truckee River. This stabilized investment is an excellent opportunity for investors seeking a strong return in a desirable Reno location. The property's central location between Reno High School and Shops at the Village shopping center adds to its appeal.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Gerber Medical Clinic
Medical Clinic
Good Elephant at the Gerber ...
Gym & Fitness Center
Chapter 13 Trustee ...
Law Firm
Gerber Josh
Employment Agency
Robert Floyd, MD
Physician
Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.82747732939
- Latitude
- 39.515907768934
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FAQs
What type of property is this?
Medical Office Space - High-yield medical office investment
Where is this medical office space located?
The property is located at 1225 Westfield Ave Reno, NV.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Gerber Medical Clinic has a leaseback option for the top floor, for either 3 or 5 years, at current operating expenses.; Three small vacant units offer immediate NOI growth potential.; Conveniently located near the intersection of California Avenue and Booth Street.
