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    22 Hillcrest Dr Reno, NV 89502

    Sponsored
    For Sale
    $2,650,000

    Reno Retail Investment: 100% Occupancy

    Property size:
    8,197 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a stabilized, 8,197 square foot retail shopping center in Reno, Nevada. The property, known as Hillcrest Shops, consists of three, two-story buildings totaling 8,197 net rentable square feet, situated on a 0.371-acre lot. Currently boasting 100% occupancy with ten tenants primarily in the beauty and wellness sector, the center generates a strong net operating income (NOI) of $172,057, resulting in a 6.49% capitalization rate. The asking price is $2,650,000, translating to $323.29 per square foot. Built in 1960 and extensively renovated in 2024, the property features newly installed siding and roofing on all three buildings, along with a freshly paved parking lot. The interior of each unit has also undergone a complete renovation, providing modern, turnkey spaces. Located at 22 Hillcrest Dr, Reno, NV 89502, the property benefits from a prime location across from the Reno Experience District (RED), a vibrant new development with high-density luxury apartments and experiential venues, ensuring high foot traffic and visibility. Its proximity to a busy strip mall further enhances its desirability. The property is zoned MU and offers a compelling investment opportunity for those seeking stable cash flow and potential appreciation in a thriving Reno location.

    Property Features for 22 Hillcrest Dr

    General Information

    Property type
    Lifestyle centers
    Square Feet
    8,197 SF
    Class
    B
    Lot Size
    16,161 SF

    Building Details

    Year Built/Renovated
    1960/2024
    Buildings
    3
    Stories
    2
    Units
    10

    HighLights

    • 8,197 SF retail shopping center in Reno, NV with 100% occupancy.
    • Strong NOI of $172,057 and a 6.49% cap rate.
    • Asking price: $2,650,000 ($323.29/SF).
    • Recently renovated (2024) with new siding, roofing, and parking lot.
    • Prime location across from Reno Experience District (RED), offering high visibility and foot traffic.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shift Gears Bodywork Massage Therapist Live In Peace Massage Massage Therapist

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Building Supply Clothing Store Nail Salon Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8029343
    Latitude
    39.5045226

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    FAQs

    What type of property is this?
    Lifestyle center - Reno Retail Investment: 100% Occupancy
    Where is this lifestyle center located?
    The property is located at 22 Hillcrest Dr Reno, NV.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: 8,197 SF retail shopping center in Reno, NV with 100% occupancy.; Strong NOI of $172,057 and a 6.49% cap rate.; Asking price: $2,650,000 ($323.29/SF).
    Request Owner's contact information
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    Reno, NV 89502
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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
    22 Hillcrest Dr Reno, NV 89502
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