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    1225 Westfield Ave Reno, NV 89509

    For Sale
    $3,400,000

    High-yield medical office investment

    Property size:
    15,960 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    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 Features for 1225 Westfield Ave

    General Information

    Property type
    Medical offices
    Square Feet
    15,960 SF
    Class
    C
    Lot Size
    28,750 SF

    Building Details

    Year Built
    1963
    Buildings
    1
    Stories
    2
    Units
    7

    HighLights

    • 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.
    • Centrally situated between Reno High School and Shops at the Village.
    • Short drive to Downtown Reno and the Truckee River.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gerber Medical Clinic Medical Clinic Good Elephant at the Gerber ... Yoga Studio Chapter 13 Trustee ... Attorney Gerber Josh Nursing Agency Robert Floyd, MD Doctor

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    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 - High-yield medical office investment
    Where is this medical office 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.
    Request Owner's contact information
    1225 Westfield Ave Reno, NV 89509
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    Reno, NV 89509
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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
    1225 Westfield Ave Reno, NV 89509
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