160 Grv St Reno, NV 89502-3706

Property Details for 160 Grv St

Year built

1952

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.24 lot acres

Property size

5,693 SF

Zone code

MU

Property type

Warehouses

APN

020-011-08

APU

2001108

Description

This exceptional mixed-use property in Reno, Nevada, presents a compelling investment opportunity. Located just 0.16 miles from South Virginia Street, this central location offers convenient access to Reno-Tahoe International Airport. The property comprises two buildings on two separate parcels, each 0.241 acres, totaling 0.482 acres. The first building, constructed in 1952, features 5,693 square feet of space currently leased as a neighborhood market. This building boasts a new roof (2019) and a recently rebuilt sewer main (2021). The second building, built in 1986, offers 3,220 square feet, currently leased as an auto repair shop with three bays, a sand/oil separator, a small office, and flex space. The property also includes a separate apartment. The combined square footage is 8,913 square feet, with five total units, currently operating at 100% occupancy. Tenants are credit-rated, with leases ranging from month-to-month to a five-year term. Annual rent bumps of $100 are in place for the store, while the shop has a one-year lease. The property is zoned MU and includes 10 parking spaces. The asking price is $1,650,000, representing a price per square foot of $185.12 and a price per unit of $330,000. This property offers significant redevelopment potential, situated directly across from the Reno Experience District. The property's strong cash flow, combined with its prime location and redevelopment potential, makes it an attractive investment. The property's APN numbers are 020-011-09 and 020-011-08.

Location Insight

City

Reno

County

Washoe

State

Nevada

Longitude

-119.797

Latitude

39.5007

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments