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Property profile & analytics
OFF-MARKET
Drive through restaurants
2900 Clear Acre Ln Reno, NV 89512-1712
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0087466
Property summary
AI-generated overview
University Village Shopping Center, a single-story, 39,182 square foot retail property, presents a compelling investment opportunity in Reno, Nevada. Built in 1986, this Class B shopping center sits on a 3.84-acre lot at 2900 Clear Acre Ln, Reno, NV 89512, and is conveniently located near N McCarran Blvd. The center features five individual suites ranging in size from 1,033 to 5,387 square feet, offering flexibility for various retail tenants. Ample parking is provided with 210 spaces. The property boasts high visibility and traffic counts, averaging 12,800 vehicles daily on Clear Acre Lane, complemented by an additional 75,000 vehicles exiting the freeway onto N McCarran Boulevard. The zoning is GC, and the APN is 004-073-10
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1992
Construction
WOOD
Total area
1,793 SF
Lot
0.21 ac (9,017 SF)
Zoning code
GC
APN
004-073-05
UPID
US62-0087466
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
-
Chevron Gas Station
-
Alderto's Restaurant
-
Maui Jane's Hawaiian Barbecue Restaurant
-
Port of Subs Take-out & Catering
-
ExtraMile by Jacksons Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
State Of Nevada · 4 yrs held
State Of Nevada
since 2022
7 recorded transactions
Zoning & alternative use
GC · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The GC district is intended to accommodate a mix of established low-intensity auto-oriented uses, while supporting the gradual transition of the city's suburban corridors to a mix of higher-density residential, retail, commercial, and other employment and service-oriented uses.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
1,752.04 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Reno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reno submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,667
Tax year 2023
Assessed value
$134,176
Assessed 2023
Previous assessed
$117,808
+13.9% YoY
Effective rate
3.48%
On assessed value
Assessed land
$52,073
Assessed improvement
$82,103
Land market value
$148,780
Improvement market value
$234,579
Total market value
$383,359
Applied tax rate
1,000.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1992
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
1,793 SF
Lot
0.21 ac (9,017 SF)
Zoning code
GC
APN
004-073-05
UPID
US62-0087466
Jurisdiction
WASHOE
Zoning & alternative use
GC · Reno, NVZoning GC · permitted uses
GC · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The GC district is intended to accommodate a mix of established low-intensity auto-oriented uses, while supporting the gradual transition of the city's suburban corridors to a mix of higher-density residential, retail, commercial, and other employment and service-oriented uses.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
1,752.04 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1992
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
State Of Nevada
Individual
Mailing address
4825 IDLEWILD DR, RENO, NV 89519-2118
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2022
—
State Of Nevada
Regional Trans Commission Of Washoe
Quitclaim Deed
related
—
May 31, 2019
—
University Vlg Management LLC
—
Grant Deed
related
$5,320,000 · Pacific Premier Bk
May 31, 2019
$7,600,000
University Village Management LLC
University Village Center LLC
Bargain & Sale Deed
$5,320,000 · Pacific Premier Bank
Jul 20, 2016
—
Peter Francis
—
Deed
related
$200,000 · Heritage Bk/nv
Nov 12, 2009
$375,000
Peter Francis
Roxbury Data Interface Dbpp & Trust
Grant Deed
$355,000 · Roxbury Data Interface Dbpp &
Jun 24, 2009
$97,317
Roxbury Data Interface Dbpp
Phil Frink & Assocs INC
Trustees Deed
related
—
Aug 2, 1996
$425,000
Eugene D Rapisura
Walsh Trust
Grant Deed
$415,000 · Seller
—
—
Peter Francis
—
Deed Of Trust
related
$200,000 · Heritage Bk/nv
—
—
Eugene D Rapisura
—
Deed Of Trust
related
$210,000 · Roxbury Data Interface Dbpp &
—
—
Eugene D Rapisura
—
Deed Of Trust
related
$95,000 · Roxbury Data Interface Dbpp &
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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