Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1678 N Virginia St Reno, NV 89512
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1678 N Virginia St Reno, NV 89512

    View on Map
    • Duplexes
    • 2,222 SF
    For Sale
    $1,575,000
    View Listing →
    University Area Mixed-Use Opportunity For Sale
    $1,575,000
    2,222 SF

    University Area Mixed-Use Opportunity

    Mixed-use property near University of Nevada, Reno.

    1678 N Virginia St, Reno, NV 89512
    View Listing
    Property ID
    US62-0277630
    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

    • Duplexes

    Property Details for 1678 N Virginia St

    Property size
    2,222 SF
    Property type
    Duplexes
    Property subtype
    Quadplexes

    Description

    Johnson Group Commercial is please to present 1678 N VIRGINIA. For Sale or Lease located at the University of Nevada Reno with approx 24,000 students. Currently has a 2222 sq house on just over 1/3 acre lot! The property is in OPPORTUNITY ZONE and could potenally be housing, retail, daycare, office, school, etc. Or Sale Or Land Lease At University Of Nevada Reno Located In The Opportunity Zone Great Student Housing Site Sold Numerous Lots Across The Street For $90-$103 Sq Ft Land Value. Potenal allowed uses - duplex, four-plex, medical facility, school, daycare, general office, urban farm, parking lot, etc - The parcel is located in the Public Facilies (PF) zoning district. You can review the Table of Allowed Uses through the link hps://library.municode.com/nv/reno/codes/land_development_code? nodeId= CH18.03USRE_ART2TAALUS_18.03.206TAALUS

    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
    -119.8209844
    Latitude
    39.5488981

    Comparable in this City

    • $1,432,000
      1.54 Acres

      Reno Land with Income Potential

      1.5-acre parcel with income, development potential in Reno, NV.
      3325 Clear Acre Ln, Reno, NV 89512
      View Details
    • New
      $740,000
      2,966 SF

      Reno Fourplex Investment Opportunity

      Four-unit property near UNR with immediate cash flow.
      650 Denslowe Dr, Reno, NV 89512
      View Details
    • $1,450,000

      Turnkey Multifamily Investment Opportunity

      Fully occupied 8-unit property with strong income and recent upgrades.
      2151 Patton Dr, Reno, NV 89512
      View Details
    • Contact for pricing

      Downtown Reno Multifamily Development Opportunity

      Multifamily/mixed-use development opportunity in downtown Reno.
      350 N Park St, Reno, NV 89512
      View Details
    • New
      $687,000
      1,474 SF

      Modern Duplex Near UNR

      Immaculate 2020 duplex with strong rental history near UNR.
      442 E 7Th St, Reno, NV 89512
      View Details
    • New
      $1,050,000
      3,340 SF

      Investment Triplex Near University

      Triplex near University of Nevada, Reno with income potential.
      462 Laurel St, Reno, NV 89512
      View Details

    Similar Nearby for Sale

    • $1,432,000
      1.54 Acres

      Reno Land with Income Potential

      1.5-acre parcel with income, development potential in Reno, NV.
      3325 Clear Acre Ln, Reno, NV 89512
      View Details
    • New
      $740,000
      2,966 SF

      Reno Fourplex Investment Opportunity

      Four-unit property near UNR with immediate cash flow.
      650 Denslowe Dr, Reno, NV 89512
      View Details
    • $1,450,000

      Turnkey Multifamily Investment Opportunity

      Fully occupied 8-unit property with strong income and recent upgrades.
      2151 Patton Dr, Reno, NV 89512
      View Details
    • Contact for pricing

      Downtown Reno Multifamily Development Opportunity

      Multifamily/mixed-use development opportunity in downtown Reno.
      350 N Park St, Reno, NV 89512
      View Details
    • New
      $687,000
      1,474 SF

      Modern Duplex Near UNR

      Immaculate 2020 duplex with strong rental history near UNR.
      442 E 7Th St, Reno, NV 89512
      View Details
    • New
      $1,050,000
      3,340 SF

      Investment Triplex Near University

      Triplex near University of Nevada, Reno with income potential.
      462 Laurel St, Reno, NV 89512
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space Available For Lease

      Retail space available for lease in Reno, Nevada.
      2880 Northtowne Ln, Reno, NV 89512
      View Details
    • $1.50 SF/Yr
      4,637 SF

      Retail Space Available For Rent

      Retail space available for lease, approximately 4637 square feet.
      1901 Silverada Blvd, Reno, NV 89512
      View Details
    • Contact for pricing

      Reno Power Center For Rent

      Power center anchored by WinCo Foods with high visibility.
      Northtowne Ln & Lund Ln, Reno, NV 89512
      View Details
    • Contact for pricing

      Reno Warehouse with Rail Access

      56,000 SF warehouse with rail access and modern amenities.
      380 E Parr Blvd, Reno, NV 89512
      View Details
    • Contact for pricing

      Industrial Land For Lease

      Industrial land available for lease.
      1925 Timber Way, Reno, NV 89512
      View Details
    • Contact for pricing
      11,266 SF

      Industrial Building with Fenced Storage

      Industrial building with 8.22 acres of fenced outside storage.
      276 E Parr Blvd, Reno, NV 89512
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1678 N Virginia St
    Reno, NV 89512
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!