1295 7th St, Reno, NV 89503-4163
- Drive through restaurants
- 1,089 SF
- 0.17 lot acres
Current Use by Public Records
- Pizza Hut / Take-out & Catering
Property Details for 1295 7th St
- Year built
- 1967
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.17 lot acres
- Zone code
- NC
- Property type
- Drive through restaurants
- APN
- 006-111-13
- APU
- 611113
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 25, 2024 | $1,178,137 | U & J Nevada LLC | 1295 West 7th Street Owner LLC | Warranty Deed | — |
| Dec 5, 2017 | $923,500 | 1295 West 7th Street Owner LLC | Buck Stephen E Trust | Grant Deed | — |
| Dec 27, 2011 | — | Buck Stephen E Trust | Buck W E Family Trust | Quit Claim Deed · related | — |
| Nov 13, 2000 | $250,000 | William E Buck | Montgomery Trust | Grant Deed | $150k · Montgomery Trust |
| — | — | William E Buck | — | Deed Of Trust · related | $145k · Us Bank Trust NA |
Description
This fee-simple retail property offers a compelling investment opportunity. The 1,326 square foot Pizza Hut is located at 1295 W 7th St, Reno, NV 89503, on a 0.35-acre lot. Built in 1967 and renovated in 1972, the property is currently 100% occupied under a 15-year triple-net (NNN) lease with a franchisee tenant. The lease commenced November 26, 2017, and expires November 29, 2032, leaving over eight years remaining. The current annual net operating income (NOI) is $68,921, representing a 5.75% cap rate on the $1,198,626 asking price. The lease includes annual rent increases of 2.00%, providing consistent income growth. This is a tax-advantaged investment in Nevada, a state with no state income tax and low property taxes. The property presents a strong, passive income stream with significant lease term remaining and built-in rent escalations. This is a single-tenant, absolute NNN lease, meaning the landlord has no responsibility for property expenses.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.833
- Latitude
- 39.5311
- CBSA code
- 39900
- CBSA name
- RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
