7520 Longley LnReno, NV 89511

Property Details for 7520 Longley Ln

Year built

2007

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.76 AC

Property size (Sq ft)

7,968 SF

Zone code

MS

Property type

Retail properties

Property subtype

Strip malls

APN

164-110-04

APU

16411004

Description

This two-story, 7,698 square foot retail strip center in Reno, Nevada's South Meadows submarket, presents a compelling investment opportunity. Built in 2007, the property is situated at 7520 Longley Lane, near the intersection of Longley Lane and South Virginia Street, offering convenient access to Interstate 395. The center features a mix of uses, as indicated by its Mixed-Use Suburban zoning. Currently, 3,491 square feet of retail space is available, previously occupied by a martial arts studio. This space boasts an open floor plan on the first floor, including two bathrooms and storage, and a mezzanine level offering an additional 1,441 square feet. The property's location provides excellent visibility and proximity to various restaurants and fast-food establishments, ensuring high foot traffic and potential for strong tenant occupancy. The Washoe County property (APN 164-110-04) offers a unique chance to acquire a well-located retail space in a thriving Reno neighborhood. The building's total area is 7,698 square feet, spread across two stories. This presents a versatile space suitable for a variety of retail businesses. The property's strategic location near major roadways and amenities makes it an attractive option for both investors and potential tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $2,337,414

  6.5%

  $2,157,613

  7%

  $2,003,498

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,597,972

  Geo Method

  $4,597,972

• Alternative Use

  Use

  Valuation

  Residential

  $1,820,028

  Hospitality

  $1,667,136

  Educational

  $1,387,037

  Medical

  $1,434,740

  Retail

  $2,157,613

Location Insight

City

Reno

County

Washoe

State

Nevada

Latitude

39.4566

Longitude

-119.777

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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