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    2062 Virginia St Reno, NV 89502

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    For Lease
    Contact for pricing

    Prime Reno retail space, 1,400 sq ft available.

    Lot size:
    5,500 SF

    Property Features for 2062 Virginia St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,500 SF
    Class
    A

    Building Details

    Year Built
    2024

    Spaces For Lease

    at 2062 Virginia St, Reno, NV 89502 Contact us

    We can help!

    Listing Contact
    Emma Beauchamp
    Emma Beauchamp

    Listing Agency: Logic Commercial Real Estate Reno Listing Agent: Emma Beauchamp

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

    Learn more

    Overview

    This exceptional Class A retail property, located at 2062 S. Virginia St., Reno, NV 89502, offers 5,500 total square feet across four suites. A significant 1,400 square feet is currently vacant, presenting a unique opportunity for a new tenant. Built in 2024, this new construction boasts excellent visibility with frontage on S. Virginia St., experiencing over 11,200 cars per day (CPD) and enjoys proximity to E. Plumb Ln. (18,000 CPD). The property benefits from its strategic location directly across from the Reno Experience District and the redeveloped Reno Public Market, ensuring high foot traffic and visibility. Access to Midtown/downtown and I-580 is convenient via S. Virginia St. and E. Plumb Ln. The area boasts a strong demographic profile, with over 6,400 residents within a 0.5-mile radius and over 3 million annual visitors to the surrounding area. A daytime population exceeding 20,000 and 1,414 businesses within a 1-mile radius further enhance the property's appeal. Ample parking is available on the west and north sides, and building signage opportunities exist. The property has a Walk Score of 87, reflecting its convenient location within the Midtown district. APN: 019-550-09.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8026307
    Latitude
    39.5041254

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    FAQs

    What type of property is this?
    Restaurant - Prime Reno retail space, 1,400 sq ft available.
    Where is this restaurant located?
    The property is located at 2062 Virginia St Reno, NV.
    What are key features of this property?
    This property features: 5,500 SF Class A retail property in Reno, NV, with 1,400 SF vacant.; New construction (2024) with high visibility on S. Virginia St. (11,200+ CPD) and proximity to E. Plumb Ln. (18,000 CPD).; Excellent location across from the Reno Experience District and Reno Public Market, offering high foot traffic.
    (775) 433-1117 Call to check price and availability
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    2062 Virginia St 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
    2062 Virginia St Reno, NV 89502
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    Contact for Pricing
    Please call us for current price
    and status of this listing Emma Beauchamp
    Emma Beauchamp
    Real Estate License ID: NV.#S.183112
    (775) 433-1117
    Learn more
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