701 2Nd St Reno, NV 89502

Property Details for 701 2Nd St

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.20 lot acres

Property size

1,890 SF

Zone code

MU

Property type

Retail space

APN

012-072-24

APU

1207224

Description

This exceptional investment opportunity presents a fully occupied, stabilized retail property located at 701 E 2nd St, Reno, NV 89502. The property consists of two buildings totaling 2,532 square feet on a 0.201-acre lot (APN 01207224), zoned MU. Both buildings underwent renovations in 2023. The north building houses World of Smoke, a successful, multi-location retail business, while the south building is occupied by Urban Barber Union, a thriving local barbershop. The property boasts a strong net operating income (NOI) of $63,262, resulting in an attractive 6.02% cap rate. The asking price is $1,050,000. This turnkey investment offers a compelling combination of high occupancy (100%), recent renovations, and established, high-cash-flow tenants situated on a high-traffic corner of S Wells and E 2nd St. The property's ease of management makes it an ideal long-term investment. Interested parties should contact the seller directly to schedule a walkthrough

Location Insight

City

Reno

County

Washoe

State

Nevada

Longitude

-119.803

Latitude

39.5277

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments