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Property profile & analytics
OFF-MARKET Estimated value $1,395,000
Retail space

3200 Ml St Reno, NV 89502-2243

8,200 SF 1.55 ac lot Built 1966
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US62-1022334
Property summary
AI-generated overview

This exceptional 8,200 square foot industrial-commercial zoned building is strategically located adjacent to the Reno/Tahoe International Airport, offering unparalleled access and visibility. Situated on a generous 1.55-acre lot, the property boasts ample outdoor storage space, currently utilized by one of the two tenants for extensive vehicle parking. The building itself is divided into two fully leased tenant spaces, generating a consistent income stream. The property's prime corner location at the intersection of Mill Street and Telegraph provides excellent exposure to high traffic volume. A shared fence with the airport adds to the property's unique character and security. The substantial lot size allows for flexibility and potential future expansion. This turnkey investment opportunity presents a rare chance to acquire a high-performing asset in a thriving Reno location, benefiting from the proximity to the airport and its associated economic activity. The existing leases provide immediate cash flow, making this an attractive proposition for investors seeking a stable and profitable commercial real estate investment. The combination of location, size, and existing tenancy makes this property a highly desirable asset in the competitive Reno market.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1966
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 8,200 SF
Lot 1.55 ac (67,518 SF)
Zoning code IC
APN 013-324-08
UPID US62-1022334
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
  • Circle M Minit Mart & Deli Grocery & Convenience Store
  • ATM (Circle M Minit Mart & Deli) Atm
  • Reno Tahoe Limousine Limousine Service
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$975k
CAP Approach CAP
$1.60M
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.40M
Owner & transaction history
3200 Mill Street LLC · 1 yrs held
3200 Mill Street LLC
since 2025
Last sale
$1.5M
5 recorded transactions
2025
$1.5M
2008
Price N/A
1997
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
IC · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The IC district is intended to provide for a mix of industrial, research and development, and commercial uses. Sites are commonly comprised of moderate-footprint buildings (generally less than 500000 square feet) designed for warehousing, flex space, manufacturing, and supporting office uses. This zoning district should be separate from residential developme…

Zone name Industrial Commercial
General category INDUSTRIAL
Zone area 1,978.27 ac
Source Realmo
Top alternative use upside
Industrial (general) $2.3M +1.1%
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