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    120 Thoma St Reno, NV 89501

    Sponsored
    For Sale
    $2,800,000

    High-yield Reno multifamily & retail.

    Property size:
    9,250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property at 120 Thoma St, Reno, NV 89501, presents a compelling investment opportunity. Boasting 9,250 square feet on a 0.16-acre lot, this stabilized investment features a blend of retail and residential spaces, currently operating at 100% occupancy as of February 24, 2023. The building, constructed in 1960 and extensively renovated in 2023, comprises one two-story structure with a permitted MU-MC zoning designation. The property includes five retail tenants and four residential apartments, generating a substantial net operating income (NOI) of $155,788, resulting in an attractive 5.56% capitalization rate. The asking price is $2,800,000, translating to $302.70 per square foot. Conveniently located in Midtown Reno, the property benefits from off-street parking, a large monument sign, and attractive exterior murals. This turnkey investment offers a diverse income stream and significant upside potential. The property's strong performance and prime location make it an ideal addition to any portfolio. The APN is 011-234-01.

    Property Features for 120 Thoma St

    General Information

    Property type
    Multifamily properties
    Square Feet
    9,250 SF
    Lot Size
    6,970 SF

    Building Details

    Year Built/Renovated
    1960/2023
    Buildings
    1
    Stories
    2

    HighLights

    • 120 Thoma St, Reno, NV 89501: 9,250 SF mixed‑use building on a 0.16‑acre lot.
    • 100% occupied (as of 2/24/2023) with five retail tenants and four residential units.
    • $2,800,000 asking price; $302.70/SF; 5.56% cap rate; $155,788 NOI.
    • Renovated in 2023; MU‑MC zoning; off‑street parking; monument signage.
    • APN: 011‑234‑01.
    Property Profile Location Intelligence

    Current Use by Public Records

    Damone Beauty Eyelash Salon Little Hawk Esthetics Beauty Salon Enhance Pink Ribbon Permanent Make-Up Clinic Moonlit Artistry Permanent Make-Up Clinic Endless Ink Tattoo Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8078698
    Latitude
    39.5192048

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    FAQs

    What type of property is this?
    Multifamily property - High-yield Reno multifamily & retail.
    Where is this multifamily property located?
    The property is located at 120 Thoma St Reno, NV.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: 120 Thoma St, Reno, NV 89501: 9,250 SF mixed-use building on a 0.16-acre lot.; 100% occupied (as of 2/24/2023) with five retail tenants and four residential units.; $2,800,000 asking price; $302.70/SF; 5.56% cap rate; $155,788 NOI.
    (775) 313-1544
    Request Owner's contact information
    120 Thoma St Reno, NV 89501
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    Reno, NV 89501
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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
    120 Thoma St Reno, NV 89501
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