600 Main StFernley, NV 89408

Property Details for 600 Main St

Lot size

27.90 AC

Zone code

MU

Property type

Land

Property subtype

Commercial land

APN

021-071-03

APU

2107103

Description

This exceptional ±28.42-acre commercial land parcel in Fernley, Nevada (APN: 021-071-02 & 021-071-03), presents a rare opportunity for a large-scale mixed-use development. Fully entitled for a 276-unit garden-style apartment community and additional commercial space for office and retail uses, the property offers significant flexibility. Entitlements could be modified to increase the multifamily unit count to 340, reducing the commercial acreage as needed. Ideally situated off Interstate 80, the site benefits from proximity to major employment centers, including the Tahoe Reno Industrial Center (15 miles), the Nevada Commerce Center, and the Victory Logistics District. All utilities are on-site, and comprehensive development studies are complete, allowing for immediate construction commencement. The property's location within a rapidly expanding market, characterized by strong job growth and high demand for housing and commercial space, makes it an attractive investment. The current market conditions, coupled with the existing zoning and included 112 acre-feet of water rights, position this property for exceptional returns. The property can be developed as a whole or in phases, with multifamily and commercial parcels potentially sold separately. This presents a unique opportunity for investors and developers seeking a prime location in a thriving Nevada market. The asking price is $6,900,000.

• Alternative Use

  Use

  Valuation

  Residential

  $264,229,424

  Hospitality

  $242,032,736

  Educational

  $201,368,400

  Medical

  $208,293,760

  Retail

  $313,239,712

Location Insight

City

Fernley

County

Lyon

State

Nevada

Latitude

39.6099

Longitude

-119.262

CBSA code

22280

CBSA name

FERGUS FALLS, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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