1251 S Virginia St Reno, NV 89509
Property profile & analytics
1251 S Virginia St, Reno, NV 89509
- Retail space
- 17,600 SF
- 0.85 lot acres
Property ID
US62-0369752
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Victorian Fancies & Tea Society / Event Planning
- All About Beauty & Spa / Hair Salon / Nail Salon
Property Details for 1251 S Virginia St
- Year built
- 1939
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.85 lot acres
- Zone code
- MUMC
- Property type
- Retail space
- APN
- 014-125-14
- APU
- 1412514
Description
This exceptional 17,600-square-foot retail building presents a prime redevelopment opportunity in Reno's vibrant Midtown district. Situated on a prominent 0.85-acre corner lot at 1251 S Virginia Street, the property boasts excellent visibility and high traffic counts. Built in 1939, this single-story building is currently vacant and offers significant potential for a variety of uses. The property's location within Midtown's thriving commercial corridor, surrounded by popular restaurants and bars, ensures high foot traffic and strong consumer demand. Recent street improvements have enhanced walkability, creating an ideal urban environment. The MU-MC zoning allows for diverse development options, including multi-tenant projects or new construction. This large block of commercial space represents a unique chance to capitalize on the growing popularity and desirability of Midtown, a submarket experiencing significant residential and commercial growth. The property's address is 1251 S Virginia Street, Reno, NV, with the cross street being Arroyo. The Assessor's Parcel Number (APN) is 014-125-14. This is a single-tenancy building with a rich history and a bright future. The property offers an unparalleled chance to establish a significant presence in one of Northern Nevada's most sought-after locations.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,650,000
- ML approach
- $3,670,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,710,000
- 6.5%
- $3,425,000
- 7%
- $3,180,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,135,000
Market price range: $2.28M - $8.37M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $4,800,000 Current use
- INDUSTRIAL (GENERAL)
- $4,850,000 Change: +1% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.807
- Latitude
- 39.5119
- CBSA code
- 39900
- CBSA name
- RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$12,479
$308,793
$140,316
$449,109
-
$882,266
$400,904
$1,283,170
