Property profile

100 N Sierra St Reno, NV 89501

FOR LEASE
Turn key restaurants
Property ID
US62-0093366
41,626 SF 0.32 ac lot Built 1957
Entity Owned 6-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional three-story, 55,626 square foot mixed-use building at 100 N Sierra Street in Reno, Nevada, presents a unique owner-user opportunity. Located in the heart of downtown, across from the Century Riverside 12 Theater, this Class A property boasts a prime location surrounded by thriving restaurants, bars, shops, and residential areas. Built in 1957 and extensively renovated in 2020, the building features a new roof, HVAC system, modernized elevator, renovated lobby, and 12 new exterior windows. The basement is fully improved, and the entire third floor is vacant and ready for custom build-out, offering significant potential for expansion or adaptation to suit specific business needs. The property sits on a 13,983 square foot lot and is zoned MD-RD (Reno Mixed Use Downtown Riverwalk District). Current tenants include Liberty Food & Wine Exchange, Reno Axe & Social, Claggett & Sykes Law Firm, and The Agency, demonstrating strong occupancy and rental income potential. The building's recent upgrades, combined with its desirable location and existing high-quality tenants, make this an exceptional investment opportunity for owner-users seeking a prominent presence in Reno's vibrant downtown core. The asking price is $10,500,000. The property's APN is 011-061-09. Occupancy commenced June 10, 2022.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1957
Construction FRAME
Total area 41,626 SF
Lot 0.32 ac (13,983 SF)
Zoning code MDRD
APN 011-061-09
UPID US62-0093366

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Real Estate Agency
  • Real Estate Agency
  • Bank Credit Union
  • Law Firm

Location

100 N Sierra St Reno, NV 89501
Reno metro Census 104 RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.64M
Blend (final) Blend
$895k

Owner & transaction history

since 2019
7 recorded transactions
2019
$5.7M
2019
$2.4M
2010
$1.1M
2010
Price N/A
2006
$2.7M
2000
$845,000
1969
Price N/A

Zoning & alternative use

MDRD · Reno, NV

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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