Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    Hills Blvd Reno, NV 89506

    • Land
    • 0.93 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Hills Blvd

    Lot size
    0.93 lot acres
    Property type
    Land

    Description

    This exceptional 0.93-acre commercial land parcel, located at 0 North Hills Blvd in Reno, Nevada (APN 552-14-120), presents a compelling investment opportunity. Priced at $604,515, or $15 per square foot, this property boasts a General Commercial (GC) zoning designation, offering considerable flexibility for diverse commercial uses. Situated in the North Valleys area of Reno, the land benefits from its strategic location between burgeoning industrial, retail, and residential developments, ensuring strong future growth potential. The property's convenient location provides easy access to both central Reno and Sparks, with a commute time of under 15 minutes. Furthermore, the parcel offers the potential for expansion, as it can be combined with an adjacent approximately 1-acre parcel to the north, resulting in a total of approximately 1.93 acres. The surrounding area is experiencing significant growth, with multiple planned multifamily developments underway, further enhancing the long-term value and appeal of this property. This is an ideal opportunity for developers and investors seeking a well-positioned commercial land parcel in a rapidly developing area of Reno. The property's zoning and location make it suitable for a wide range of commercial ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.837
    Latitude
    39.6045

    Comparable in this City

    • Value Estimation by Request
      19,316 SF

      9345 Lemmon Dr

      Office space • 19,316 SF
      9345 Lemmon Dr, Reno, NV 89506
      View Details
    • Value Estimation by Request
      4.48 Acres

      7205 Sky Vista Pkwy

      Land • 4.48 Acres
      7205 Sky Vista Pkwy, Reno, NV 89506
      View Details
    • Value Estimation by Request
      8.76 Acres

      Spearhead Way

      Land • 8.76 Acres
      0 Spearhead Way, Reno, NV 89506
      View Details
    • Value Estimation by Request

      5435 Virginia St

      Mixed-use properties
      5435 Virginia St, Reno, NV 89506
      View Details
    • Value Estimation by Request
      750 SF

      25 Panther Dr

      Commercial real estate • 750 SF
      25 Panther Dr, Reno, NV 89506
      View Details
    • Value Estimation by Request
      675 SF

      25 Panther Dr

      Commercial real estate • 675 SF
      25 Panther Dr, Reno, NV 89506
      View Details

    Similar Nearby for Sale

    • $1,900,000

      Land For Sale Reno

      Land available for sale in Reno, Nevada.
      Lemmon Dr, Reno, NV 89506
      View Details
    • Contact for pricing
      5 SF

      Reno Land Parcels For Sale

      Two land parcels totaling approximately 5.33 acres in Reno.
      Resource Dr, Reno, NV 89506
      View Details
    • Contact for pricing

      Land For Sale Reno

      Land available for purchase in Reno, Nevada.
      14500 S Virginia St, Reno, NV 89506
      View Details
    • $8,440,621

      Land For Sale North Valleys

      Approximately 21.53 acres of land available in North Valleys.
      N Hills Blvd, Reno, NV 89506
      View Details
    • $597,500
      2.91 Acres

      Reno Land Parcel Near UNR

      2.91 acre parcel near UNR with multiple development options.
      5935 W Ranger Rd, Reno, NV 89506
      View Details
    • $200,000
      0.34 Acres

      Reno Land with City Views

      Corner lot near university, ready to build your dream home.
      5100 Mason Rd, Reno, NV 89506
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      19,316 SF

      Lemmon Valley Retail Space

      Reno, NV retail & office opportunity
      9345 Lemmon Dr, Reno, NV 89506
      View Details
    • $0.60 SF/Yr

      Land for Rent in Reno

      Land available for rent at 7800 N Virginia St, Reno, NV.
      7800 N Virginia St, Reno, NV 89506
      View Details
    • Contact for pricing

      Land For Rent Reno

      Land available for rent in Reno, Nevada.
      E Golden Valley Rd, Reno, NV 89506
      View Details
    • Contact for pricing

      Land For Rent Reno

      Land available for rent in Reno, Nevada.
      Resource Dr, Reno, NV 89506
      View Details
    • $72,000
      4,100 SF

      Echo Ave Industrial Property

      Prime North Valleys Flex Space Available
      5601 Echo Ave, Reno, NV 89506
      View Details
    • $0.24 SF/Yr

      Land For Rent Reno

      Land available for rent in Reno, Nevada.
      9911 N Virginia St, Reno, NV 89506
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Hills Blvd
    Reno, NV 89506
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.