8355 Double R BlvdReno, NV 89511

Property Details for 8355 Double R Blvd

Year built

2004

Construction

WOOD

Lot size

4.78 AC

Property size (Sq ft)

7,041 SF

Zone code

IC

Property type

Office properties

Property subtype

Office buildings

APN

164-333-05

APU

16433305

Description

This exceptional investment opportunity presents a fully occupied, 18,633 square foot industrial property in Reno, Nevada. The property, built in 2004 and renovated in 2018, consists of six buildings on a 4.776-acre lot, including a 7,041 square foot office building, a 2,625 square foot service repair garage, and multiple material shelters totaling approximately 9,000 square feet. The property benefits from a prime South Reno location, near retail, housing, and amenities, including the new Northern Nevada Sierra Medical Center. Currently leased to Piedmont Truss & Lumber Company under an absolute NNN lease with a remaining term of approximately 3.7 years (expiring August 1, 2028), the lease provides a stable income stream of $35,000 per month, with annual rent increases. The lease commencement date is at the close of escrow. The property boasts a strong 5.25% cap rate and a net operating income (NOI) of $420,000. The property is zoned IC, allowing for industrial, office, and retail uses. This is a rare opportunity to acquire a high-performing, net-leased industrial asset in a rapidly growing area of Reno. The asking price is $8,000,000, representing a price per square foot of $429.35. The property's address is 8355 Double R Blvd, Reno, NV 89511.

• CAP approach

  CAP return

  Valuation

  6%

  $1,405,088

  6.5%

  $1,297,004

  7%

  $1,204,361

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,612,319

  Geo Method

  $1,612,319

• Alternative Use

  Use

  Valuation

  Residential

  $1,608,285

  Hospitality

  $1,473,180

  Educational

  $1,225,669

  Medical

  $1,267,821

  Retail

  $1,906,596

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.4628

Longitude

-119.767

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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