Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Virginia St & Plumb Ln Reno, NV 89501
    Back to Search
    Property profile & analytics

    Virginia St & Plumb Ln, Reno, NV 89501

    View on Map
    • Neighborhood centers
    • 132,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 0 Virginia St & Plumb Ln

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    The Reno Public Market offers an exceptional retail opportunity in a vibrant Reno location at the intersection of South Virginia Street & Plumb Lane, Washoe County, NV 89501. This thriving strip center boasts a total of 132,000 square feet of retail space, with 14 individual units currently available. Units range in size from a minimum of 785 square feet to a maximum contiguous space of 9,822 square feet, providing flexibility for a variety of businesses. A significant 58,545 square feet is currently vacant, presenting a unique chance to establish a presence in this bustling market. The property is situated on a lot ranging from 3,500 to 6,000 square feet, offering ample space for customer parking and potential outdoor amenities. Its prime location ensures high visibility and accessibility for customers. This is an ideal investment for businesses seeking a strong foothold in the Reno retail scene. The property's multiple tenancy structure allows for diverse businesses to thrive within a shared, vibrant community. The available space caters to a wide range of business needs, from smaller boutiques to larger retail operations. Don't miss this opportunity to secure your space in this dynamic and successful retail center. Contact us today to learn more about the available units and lease terms.

    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
    -119.814
    Latitude
    39.5254

    Comparable in this City

    • Value Estimation
      $2,720,000
      7,807 SF

      701 Virginia St

      SHOPPING CENTER, STRIP CENTER
      701 Virginia St, Reno, NV 89501-2343
      View Details
    • Value Estimation
      $9,825,000
      21,194 SF

      777 Ctr St

      SHOPPING CENTER, STRIP CENTER
      777 Ctr St, Reno, NV 89501-2330
      View Details
    • Value Estimation
      $2,085,000
      16,100 SF

      600 Virginia St

      SHOPPING CENTER, STRIP CENTER
      600 Virginia St, Reno, NV 89501-2358
      View Details
    • Value Estimation by Request
      66,488 SF

      118 West St

      Individual retail properties
      118 West St, Reno, NV 89501
      View Details
    • Value Estimation by Request

      120 2Nd St

      Restaurants
      120 2Nd St, Reno, NV 89501
      View Details
    • Value Estimation by Request
      20,442 SF

      25 2Nd St

      Restaurants
      25 2Nd St, Reno, NV 89501
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,082 SF

      California Hill Portfolio For Sale

      Two buildings totaling ±13,082 SF with 16 tenants.
      247 California Ave, Reno, NV 89501
      View Details
    • Contact for pricing
      14,904 SF

      Urban Corridor Net-Lease Opportunity

      High-yield corporate net-lease opportunity in a supply-constrained urban corridor.
      750 N Virginia St, Reno, NV 89501
      View Details
    • Contact for pricing
      5,674 SF

      Reno Commercial Portfolio For Sale

      Three-building commercial portfolio in Reno's Hilltop district, fully leased.
      238 S Arlington Ave, Reno, NV 89501
      View Details
    • Contact for pricing

      Reno/Sparks Industrial Land Parcel

      Large land parcel in Reno/Sparks industrial market.
      N Virginia St, Reno, NV 89501
      View Details
    • Contact for pricing
      55,471 SF

      Former Hotel with Kitchenettes

      93-room former hotel with kitchenettes and indoor pool.
      140 Court St, Reno, NV 89501
      View Details
    • $429,000

      Reno Land Near University

      Land near UNR, potential for multi-family, retail, and more.
      Valley Rd, Reno, NV 89501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,000 SF

      Retail Space in Reno, Nevada

      8,000 square foot retail property available for rent.
      229 N Virginia St, Reno, NV 89501
      View Details
    • Contact for pricing
      4,274 SF

      Retail Space Available For Lease

      Retail property available for lease in Reno, Nevada.
      239 W 2Nd St, Reno, NV 89501
      View Details
    • $2 SF/Yr

      Downtown Office/Retail Space Available

      Stand-alone office/retail property in downtown Reno for lease.
      336 W Liberty St, Reno, NV 89501
      View Details
    • Contact for pricing
      700 SF

      Retail Space in Reno, Nevada

      700 square feet of retail space available for rent.
      118 St W, Reno, NV 89501
      View Details
    • Contact for pricing
      1,298 SF

      Retail Space in Reno, Nevada

      Retail space available for lease in Reno, Nevada.
      130-136 W 2Nd St, Reno, NV 89501
      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.
    Virginia St & Plumb Ln
    Reno, NV 89501
    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

    Thank You for Inquiry
    Virginia St & Plumb Ln, Reno, NV, 89501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!