1401 S Virginia St Reno, NV 89503
- Office buildings
- 9,143 SF
- 0.71 lot acres
Current Use by Public Records
- Biggest Little Steakhouse / Restaurant
- The Reade Real Estate Group - RE/MAX Gold / Real Estate Agency
- Shannon Comstock, Reno Realtor - RE/MAX Gold-Midtown / Real Estate Agent
- RE/MAX Gold - Midtown / Real Estate Agency
- Chapo Sports Bar / Sports Bar / Mexican Restaurant
Property Details for 1401 S Virginia St
- Year built
- 1955
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.71 lot acres
- Property size
- 9,143 SF
- Zone code
- MUMC
- Property type
- Office buildings
- APN
- 014-133-15
- APU
- 1413315
Description
This exceptional Class A mixed-use property, located at 1401 S. Virginia St. in Reno, Nevada, presents a compelling investment opportunity. The 21,198 square foot building, originally constructed in 1955 and extensively renovated in 2016, boasts a prime location in Reno's thriving MidTown district. The renovation included a new elevator, façade, second-story deck, roof, electrical system, enhanced security, and HVAC. The building features a strong tenant mix of retail, office, and restaurant spaces, currently enjoying 100% occupancy and generating a substantial net operating income (NOI) of $547,673, representing a 6.50% cap rate. The asking price is $8,426,000, translating to $397.49 per square foot. The property sits on a 0.71-acre lot and includes 30 on-site parking spaces—a rare amenity in MidTown. Its proximity to the Reno Public Market and the Reno Experience District (RED), coupled with the recent S. Virginia Street improvements (enhanced sidewalks, pedestrian safety, and street parking), ensures high visibility and foot traffic. The area's robust demographics, with over 125,000 residents within a 3-mile radius and a significant daytime population, further solidify its investment potential. The weighted average lease term remaining is 33 months. This two-story building, originally a bank, features 28 feet of clear height in its original 9,000 square foot section, constructed of 100% brick, and an additional 12,000 square feet of newer construction. The property's strong tenant mix, high occupancy, and strategic location make it an ideal investment for discerning buyers. The APN is 014-133-15.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $525,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.806
- Latitude
- 39.5104
- CBSA code
- 39900
- CBSA name
- RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
