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Property profile & analytics
OFF-MARKET Estimated value $560,000
Turn key restaurants

2195 Virginia St Reno, NV 89503-1747

4,142 SF 0.46 ac lot Built 1995
Entity Owned 22-yr Hold Free & Clear
Property ID
US62-0594951
Property summary
AI-generated overview

This exceptional 25,517 square foot commercial property, located at 2195 S Virginia St in Reno, Nevada, presents a compelling investment opportunity. Built in 2007, this two-story building sits on a 1.69-acre lot (APN: 019-550-08, 019-550-12) and is zoned MU, offering significant flexibility for various uses. Currently, a tenant occupies 2,500 square feet under a month-to-month lease. The property's diverse zoning allows for a wide range of possibilities, including general retail, commercial kitchens, restaurants (with alcohol service), general office space, medical offices, and medical clinics. The asking price is $7,300,000. This location offers owner-user occupancy potential and is situated within an Opportunity Zone, presenting further redevelopment opportunities for investors seeking to capitalize on tax advantages. The property's size and zoning make it ideal for a variety of businesses seeking a prominent location in Reno, Washoe County, Nevada (Zip Code 89502). This is a rare chance to acquire a substantial commercial property with significant upside potential in a thriving Nevada market.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1995
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 4,142 SF
Lot 0.46 ac (19,842 SF)
Zoning code MU
APN 003-160-21
UPID US62-0594951
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Art Source Fine Art Gallery & Custom Framing Theater & Performing Art Venue
  • Wilbur D. May Arboretum Greenhouse Garden Center Landscaping
  • Reno Custom Framing Center (Bike/Boat/Book/etc) Store Home Decor Store
  • Archie's Giant Hamburgers & Breakfast Restaurant
  • Landscapers - Reno, NV Landscaping
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$415k
CAP Approach CAP
by Request
Comparable Approach Comparable
$703k
Blend (final) Blend
$560k
Owner & transaction history
PICKETT LIVING TRUST
PICKETT LIVING TRUST
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The MU district is intended to promote an urban pattern of mixed-use development. The MU district is located adjacent to existing/planned high-frequency transit corridors, or where higher pedestrian activity is desired. The district accommodates an integrated mix of higher-density residential, commercial, retail, employment, and other service-oriented uses.…

Zone name Mixed Use Urban
General category MIXED_USE
Zone area 1,686.99 ac
Source Realmo
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