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    235 Lake St Reno, NV 89501

    Sponsored
    For Sale
    $5,300,000

    High-Yield Investment Opportunity

    Property size:
    21,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    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.

    Property Features for 235 Lake St

    General Information

    Property type
    Restaurants
    Square Feet
    21,000 SF
    Lot Size
    7,013 SF

    Building Details

    Year Built/Renovated
    1949/2023
    Buildings
    1
    Stories
    2

    HighLights

    • $5,300,000 Asking Price for a 21,000 square foot retail property.
    • 6.18% Cap Rate with a $327,446 NOI.
    • 100% Occupancy with 22 tenants.
    • Located at 235 Lake St, Reno, NV 89501, on a 0.161‑acre lot (APN: 011‑071‑06).
    • Recently renovated (2023) two‑story building (built in 1949) with MD‑ED zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Always Clean Cleaning ... House Cleaning Service Pinoy Pinger Nailz Nail Salon The Fe Restaurant Santa Fe Hotel Restaurant

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Law Firm Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8111299
    Latitude
    39.5281046

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    FAQs

    What type of property is this?
    Restaurant - High-Yield Investment Opportunity
    Where is this restaurant located?
    The property is located at 235 Lake St Reno, NV.
    What is the asking price?
    The asking price for this property is $5,300,000.
    What are key features of this property?
    This property features: $5,300,000 Asking Price for a 21,000 square foot retail property.; 6.18% Cap Rate with a $327,446 NOI.; 100% Occupancy with 22 tenants.
    Request Owner's contact information
    235 Lake 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
    235 Lake St Reno, NV 89501
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