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    1400 Stardust St Reno, NV 89503

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    1400 Stardust St Reno, NV 89503

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    Rehabilitated Studio Apartments in Reno For Sale
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    33,288 SF

    Rehabilitated Studio Apartments in Reno

    241 studio apartments in Reno, completed in early October 2023.

    1400 Stardust St, Reno, NV 89503
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    Property ID
    US62-0319689
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Point at West University / Apartment Building

    Property Details for 1400 Stardust St

    Property type
    Apartment buildings

    Description

    NAI Alliance is pleased to present this major re-positioning by Repvblik Development Group, with multifamily-compliant upgrades to electrical, plumbing, and life-safety systems. This project is designed to accommodate Reno’s enormous demand for workforce housing, and as such, these newly remodeled studios are priced affordably and will fill up fast. Construction is scheduled to be completed in early October 2023, and pre-leasing has already begun. The subject properties were originally both two-story motels built in 1974 and 1966, respectively. The buildings are ±32,400 - ±33,288 square feet, situated on ±1.96 - ±1.897 acres zoned General Commercial and Mixed-Use Urban. Locations are pivotal for both properties; 1400 Stardust Street is in northwest Reno, is close to Interstate 80, while 1901 S Virginia Street is in downtown/MidTown is close to Highway 395/I-580. Assessor’s Parcel Numbers are 006-151-06 and 019-051-15. The highly visible and easily accessible locations feature 241 rehabilitated studio apartments. There are currently 6 similar properties on the market within 10 miles distance of the Subject Property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.8357754
    Latitude
    39.5281022

    Comparable in this City

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      Updated Multifamily Investment Opportunity

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      Multifamily Repositioning Project in Reno

      Multifamily property with compliant upgrades, designed for workforce housing.
      1400 Stardust St, Reno, NV 89503
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      Reno Multifamily Investment Opportunity

      Eight-unit multifamily property in Reno, near major transportation routes.
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      Renovated Triplex Near UNR

      Fully leased, renovated triplex near the University of Nevada, Reno.
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      University Area Redevelopment Opportunity

      Redevelopment site near the University of Nevada campus.
      208 University Ter, Reno, NV 89503
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    Similar Nearby for Sale

    • $995,000
      0.22 Acres

      Reno Multifamily Investment Opportunity

      Five-unit property near downtown Reno and the Truckee River.
      820 W 1St St, Reno, NV 89503
      View Details
    • $989,000
      4,094 SF

      Updated Multifamily Investment Opportunity

      Six-unit multifamily property in Northwest Reno with updated interiors.
      1385 W 6Th St, Reno, NV 89503
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    • Contact for pricing

      Multifamily Repositioning Project in Reno

      Multifamily property with compliant upgrades, designed for workforce housing.
      1400 Stardust St, Reno, NV 89503
      View Details
    • $1,475,000
      5,408 SF

      Reno Multifamily Investment Opportunity

      Eight-unit multifamily property in Reno, near major transportation routes.
      3596 Gypsum Rd, Reno, NV 89503
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    • New
      $1,150,000
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      Renovated Triplex Near UNR

      Fully leased, renovated triplex near the University of Nevada, Reno.
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    • $1,237,000

      University Area Redevelopment Opportunity

      Redevelopment site near the University of Nevada campus.
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    Similar Nearby for Lease

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      Medical Office Space Near Hospital

      Premier medical office with direct access to St. Mary's Hospital.
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      1,800 SF

      Retail Space Available For Rent

      Retail space available for rent, totaling 1,800 square feet.
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    • $1.50 SF/Yr
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      Renovated Office Building in Reno

      Recently renovated office building in downtown Reno near Riverwalk.
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      Retail/Restaurant Space Near UNR

      Ground floor retail/restaurant space across from University of Nevada, Reno.
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      Land For Rent Reno

      Land available for rent in Reno, Nevada.
      950 W 5Th St, Reno, NV 89503
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      3,385 SF

      MidTown Reno Multi-Tenant Building

      Historic building in Reno's MidTown district with on-site parking.
      1401 S Virginia St, Reno, NV 89503
      View Details
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    Reno, NV 89503
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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