Leased Mixed-Use
960 S Virginia St, Reno, NV 89502
For Sale
Contact for pricing
Fully leased commercial building with dining, retail, wellness, and office occupancy.
Property Size18,920 SF
Price / SF$449.26
Days on Market100
Property Features for 960 S Virginia St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Net Operating Income
Additional Details
Cap Rate
Building Details
Year Built
Buildings
Stories
Tenancy
Building Size
Listing Agency:
Marmot Properties, Llc
Listed By:
Batuhan Zadeh · License #NV BS.145130
(775) 313-1544
Source:
Crexi
Added: Jul 30
Changed: Oct 26
Last Checked: Nov 6 at 8:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marmot Properties, Llc
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Investment Insights
Based on property information with market context.
Built in 1927, this 18,920-square-foot mixed-use property combines dining, retail, wellness, and office tenancy within a single commercial asset. The building is 100% leased and includes Proof Wholesale among its occupants, providing a tenant mix that spans food service, lifestyle retail, wellness services, and professional office use.
Located at 960 S Virginia St in Reno, Nevada, the property is designated MU-MC (Mixed Use - Midtown Corridor). The asset carries a 6.35% cap rate and is positioned within the Midtown corridor identified in the listing as a high-demand, high-barrier commercial area.
Located at 960 S Virginia St in Reno, Nevada, the property is designated MU-MC (Mixed Use - Midtown Corridor). The asset carries a 6.35% cap rate and is positioned within the Midtown corridor identified in the listing as a high-demand, high-barrier commercial area.
Key Highlights
- 18,920‑square‑foot mixed‑use property
- 100% leased occupancy
- 6.35% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$334,455
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,689,100
$6.7M
Cap Rate 7%
$4,777,929
$4.8M
Cap Rate 9%
$3,716,167
$3.7M
Market Conditions
NOI Build-Up for 18,920 SF
Gross rent
$547.2K $28.92/SF
− Vacancy
−$101.2K −$5.35/SF
EGI
$445.9K $23.57/SF
− OpEx
−$111.5K −$5.89/SF
NOI
$334.5K $17.68/SF
Area
Reno, NV
Vacancy
18.50%
Lease Rate
$28.92 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,689,100
Cap Rate 7%
$4,777,929
Cap Rate 9%
$3,716,167
Alternative Uses
Best Use
Office B
$4.78M
$4.18M – $5.57M
NOI $334,455 @ 7.0% cap · market cap 3.93%
Second Best
Mixed Use
$3.94M
$3.45M – $4.60M
NOI $276,102 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$5.83M
$5.10M – $6.80M
NOI $408,163 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,973
Businesses Nearby
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Business Placement
Demographics for 89502, NV
47,062
Population
20,781
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
21.5 sq mi
ZIP Area
2,189
Density / Sq Mi
$62,719
Median Household Income
$36,796
Median Earnings
$1,243
Median Rent
$389,200
Median Home Value
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Market
Properties on Market for Mixed-use properties in Reno
Vacancy Rate% for Office in Reno, NV
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased commercial building with dining, retail, wellness, and office occupancy.
Where is this mixed-use property located?
The property is located at 960 S Virginia St Reno, NV.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: 18,920‑square‑foot mixed‑use property; 100% leased occupancy; 6.35% cap rate
