600 University Way Reno, NV 89501
- Land
- 2.71 lot acres
Current Use by Public Records
- Land
Property Details for 600 University Way
- Lot size
- 2.71 lot acres
- Property type
- Land
Description
This exceptional 2.71-acre city block in Reno, Nevada, presents a once-in-a-lifetime development opportunity. Located at 600 University Way, this property boasts a highly desirable location just three blocks south of the University of Nevada, Reno, and one block east of "The Row" casinos (El Dorado, Silver Legacy, and Circus Circus). The site is completely level, scraped, clean, and fenced, ready for immediate development. Approved plans exist for a 277-unit (619-bed) student housing project encompassing over 360,000 square feet of living and common areas. Alternatively, the zoning allows for the development of market-rate apartments with a similar footprint. The property's location within a federally designated Opportunity Zone provides significant tax advantages for developers. This full city block offers unparalleled access to Interstate 80 and public transportation. The high density allowed, combined with the property's proximity to the university and the vibrant downtown area, ensures strong tenant demand for either student or market-rate housing. The surrounding area is experiencing significant revitalization, including the Virginia Street Project and the expansion of the Neon Line District, creating a dynamic and growing environment. The city of Reno and the state of Nevada consistently rank among the top nationwide for business and living, further enhancing the investment potential of this remarkable property. The APN is 007-361-18, and the permitted zoning is MD-UD. Buyer to verify all information.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.814
- Latitude
- 39.5329
