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    Wells Ave Reno, NV 89512

    Sponsored
    For Sale
    $6,550,000

    7.8 acres, multifamily potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 7.8-acre commercial land parcel presents a unique investment opportunity in Reno, Nevada. Located near the University of Nevada, Reno (UNR), this property offers significant development potential. The site is comprised of seven parcels (APN: 004-202-65, 004-202-67, 008-011-01, 008-011-02, 008-011-03, 008-011-04 & 004-161-30) totaling 7.8 acres, with a zoning designation of MF30 and MU, making it ideal for multifamily or student housing projects. The property is situated on N Wells Ave, Reno, NV 89512, within Washoe County. This infill site is one of the few remaining within the McCarran Avenue ring. Flexible purchase options are available: Option I (5 parcels, 5.47 acres) for $4,600,000

    Property Features for 0 Wells Ave

    General Information

    Property type
    Land
    Lot Size
    101,495 SF

    HighLights

    • 7.8‑acre commercial land parcel in Reno, NV, near UNR.
    • Flexible purchase options available.
    • Option I: 5.47 acres for $4,600,000.
    • Option II: 2.33 acres for $1,950,000.
    • Option III: 7.8 acres for $6,550,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8032901
    Latitude
    39.5376237

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    FAQs

    What type of property is this?
    Land - 7.8 acres, multifamily potential
    Where is this land located?
    The property is located at Wells Ave Reno, NV.
    What is the asking price?
    The asking price for this property is $6,550,000.
    What are key features of this property?
    This property features: 7.8-acre commercial land parcel in Reno, NV, near UNR.; Flexible purchase options available.; Option I: 5.47 acres for $4,600,000.
    (775) 332-7310
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    Wells Ave 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
    Wells Ave Reno, NV 89512
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