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231 Virginia St Reno, NV 89501

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Historic Casino, 8,390 SF, Prime Location

Property size:
8,390 SF

Description

Added:
Dec 11, 2024
Days on Market:
394
This exceptional opportunity presents the acquisition of The Nugget, a historic casino property situated in the heart of Downtown Reno, Nevada. Built in 1935, this ±8,390 square foot building boasts a rich history and a prime location on N. Virginia St., steps from the iconic Reno Arch. The property features a main floor that previously housed a casino and diner, a basement with storage and prep areas, and a mezzanine level with offices and restrooms. The property is zoned MD-ED (Mixed-Use Downtown Entertainment District) under APN 011-051-13 & 011-051-14. A significant advantage is the inclusion of a rare, grandfathered, non-restricted Nevada gaming license. This license presents a unique value-add opportunity for the new owner, allowing for either on-site operation or potential relocation within the City of Reno Redevelopment Project Area (RDA 1), subject to buyer due diligence and verification. The property's location within a Qualified Opportunity Zone further enhances its investment potential. This is a truly unique opportunity to acquire a piece of Reno history with significant upside potential.

Property Features for 231 Virginia St

General Information

Property type
Casinos
Square Feet
8,390 SF

Building Details

Year Built
1935

HighLights

  • Rare, grandfathered unrestricted gaming license.
  • Historic building.
  • Prime downtown Reno location.
  • Redevelopment opportunity in a Qualified Opportunity Zone (QOZ).
Property Profile Location Intelligence

Current Use by Public Records

Casinos

Suggested Use

Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

Location Insight

  • Map
  • Local Demand
City
Reno
County
Washoe
State
Nevada
Longitude
-119.8136883
Latitude
39.5275874

FAQs

What type of property is this?
Casino - Historic Casino, 8,390 SF, Prime Location
Where is this casino located?
The property is located at 231 Virginia St Reno, NV.
What are key features of this property?
This property features: Rare, grandfathered unrestricted gaming license.; Historic building.; Prime downtown Reno location.
More about this property
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