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    5605 Riggins Ct Reno, NV 89502

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    For Lease
    Contact for pricing

    Meadowwood Office Building, 1,477-4,521 SF Available

    Lot size:
    14,040 SF

    Property Features for 5605 Riggins Ct

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,040 SF
    Total Rate
    23868

    Building Details

    Year Built
    1995
    Stories
    2

    Spaces For Lease

    at 5605 Riggins Ct, Reno, NV 89502 Contact us
    Unit Suite 104

    $23 /Mo

    Size
    1,477 SF
    Contact us
    Unit Suite 200

    $20 /Mo

    Size
    4,521 SF
    Contact us

    We can help!

    Listing Contact
    Melissa Molyneaux
    Melissa Molyneaux

    Listing Agency: Colliers - Reno, Nevada Listing Agent: Melissa Molyneaux

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This two-story, 14,040-square-foot office building in Reno's Meadowwood submarket offers multiple tenancy options, with 5,998 square feet currently vacant. Units range from a minimum of 1,477 square feet to a maximum contiguous space of 4,521 square feet, providing flexibility for various business needs. Built in 1995, the property features a contemporary design and is conveniently located near I-580 and major thoroughfares, including South McCarran Boulevard, South Virginia Street, and the Southeast Connector. Its proximity to the Reno Tahoe Airport, retail centers, amenities, and a bus line enhances its appeal. Ample parking is available, with a ratio of 5.25 spaces per 1,000 square feet, both in the lot and on the street. The building is elevator-served and may be suitable for medical users due to its previous tenancy. The property is situated at 5605 Riggins Ct, Reno, NV 89502, and is cross-streeted with Meadow Wood Ln in Washoe County. This presents a compelling opportunity for businesses seeking well-located, adaptable office space in a thriving Reno neighborhood.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    eLife Drive Tech Support Center Diana Harper, Krch ... Real Estate Agency Tammy Noble, Krch ... Real Estate Agency John Forgie, Krch ... Real Estate Agency Cindy Brenner, Krch ... Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair 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
    -119.77634545
    Latitude
    39.47153878

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    FAQs

    What type of property is this?
    Office property - Meadowwood Office Building, 1,477-4,521 SF Available
    Where is this office property located?
    The property is located at 5605 Riggins Ct Reno, NV.
    What is the lease rate?
    The lease rate is $20-$23 SF/Yr.
    What are key features of this property?
    This property features: 14,040 SF two-story office building in Reno's Meadowwood submarket.; 5,998 SF currently vacant; suites range from 1,477 SF to 4,521 SF contiguous.; Built in 1995, near I-580 and major thoroughfares; ample parking (5.25/1,000 SF).
    (775) 823-4674 Call to check price and availability
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    5605 Riggins Ct Reno, NV 89502
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    Reno, NV 89502
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    5605 Riggins Ct Reno, NV 89502
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Melissa Molyneaux
    Melissa Molyneaux
    Real Estate License ID: BS.0144599
    (775) 823-4674 (775) 762-7990
    Learn more
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