Leased Mixed-Use
For Sale
Contact for pricing
960 S Virginia St, Reno, NV 89502
Fully leased commercial building with dining, retail, wellness, and office occupancy.
Property Size18,920 SF
Price / SF$449.26
Days on Market55
Property Features for 960 S Virginia St
General Information
Standard status
Active
Size
18,920 SF
Total Parking Spaces
12
Property subtype
Mixed Use, Retail, Office
Zoning
MU-MC (Mixed Use - Midtown Corridor)
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$539,750
Additional Details
Cap Rate
6.35%
Building Details
Year Built
1927
Buildings
1
Stories
2
Tenancy
Multi
Building Size
18,920 SF
Listing Agency:
Marmot Properties, Llc
Listed By:
Batuhan Zadeh · License #NV BS.145130
(775) 313-1544
Source:
Crexi
Added: Jul 30
Changed: Sep 10
Last Checked: Sep 22 at 3:06PM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$334,455
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,973
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Reno, NV
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
