235 Lake StReno, NV 89501

This exceptional retail property, located at 235 Lake Street in Reno, Nevada, presents a compelling investment opportunity. The 21,000 square foot, two-story building, constructed in 1949 and extensively renovated in 2023, boasts a 100% occupancy rate with 22 tenants. The ground floor houses a long-standing Basque restaurant and Rockwood Construction. The second floor comprises 20 suites, each with a sink, catering to a diverse range of businesses including salons and offices. Amenities for second-floor tenants include a communal kitchen, shower, laundry room, high-speed WiFi, and a state-of-the-art security system with 4K cameras and coded door access. The property sits on a 0.161-acre lot (APN: 011-071-06) and is zoned MD-ED. With a strong Net Operating Income (NOI) of $327,446 and a 6.18% cap rate, this property offers a significant return on investment. The asking price is $5,300,000 ($252.38/sq ft). Its prime location in Downtown Reno, near the Harrah's conversion project and numerous apartments, ensures continued growth potential. This historic building blends charm with modern functionality, making it an ideal investment for discerning buyers seeking a high-performing, multi-tenant retail property in a thriving urban core.