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    Property profile & analytics

    5365 Mae Anne Ave Reno, NV 89523-1840

    • Office buildings
    • 31,040 SF
    • 3.42 lot acres
    OFF-MARKET
    Last Sale
    Dec 20, 2021
    $9,900,000
    Value Estimations
    $9,040,000
    Show details
    Cap Rate Potential
    6%
    Office buildings
    Location Intelligence
    Property ID
    US62-0353092
    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.

    Current Use by Public Records

    • Stephen Sims, D.M.D. Inc / Dentist / Cosmetic Dentist
    • Mc Cown Timothy w CPA / Accountant
    • Battle Born Therapeutics / Massage Therapist
    • Dr. Inder Bhanver, MD / Psychiatrist
    • Dragonfly Media / Internet Marketing Service / Advertising Agency

    Property Details for 5365 Mae Anne Ave

    Year built
    1989
    Construction
    WOOD
    Lot size
    3.42 lot acres
    Property size
    31,040 SF
    Zone code
    NC
    Property type
    Office buildings
    APN
    039-052-01
    APU
    3905201

    Description

    Westridge Corners, a vibrant commercial center in Northwest Reno, offers exceptional executive office suites for lease. This 1,968 square foot building, constructed in 1989, boasts a desirable location with high visibility on Mae Anne Avenue, a major thoroughfare experiencing over 112,500 vehicles daily. The property benefits from easy access to I-80 and North McCarran Boulevard, placing it within convenient reach of dense residential areas and thriving retail developments. The building is zoned NC - Neighborhood Commercial (10,000 sq ft), offering flexibility for various business types. Multiple tenancy options are available, with spaces ranging from a minimum of 215 square feet to a maximum contiguous space of 1,968 square feet; eight suites are currently available. Ample unassigned parking is provided for tenants and their clients. The center enjoys a strong tenant mix, including established businesses such as The Original Bully's Sports Bar, Sushi Rose, Pizza Plus, and Peavine Family Practice, along with other medical and general service providers. The property's APN is 039-052-01, located in Washoe County. This is an excellent opportunity to establish a presence in a thriving and well-connected Reno commercial hub. Contact us today to learn more about available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,755,000
      ML approach
      $9,710,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,755,000
      6.5%
      $9,005,000
      7%
      $8,360,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,962,000
      Market price range: $5.71M - $11.8M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $8,230,000
      Current use
      RESTAURANT
      $12,700,000
      Change: +54% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $12,470,000
      Change: +52% Conversion: Difficult
      MEDICAL BUILDING
      $10,835,000
      Change: +32% Conversion: Easy
      AUTO REPAIR, GARAGE
      $10,445,000
      Change: +27% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $10,245,000
      Change: +25% Conversion: Easy
      RETAIL STORES
      $7,980,000
      Change: -3% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.869
    Latitude
    39.5343
    CBSA code
    39900
    CBSA name
    RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $67,071
    $572,884
    $1,256,676
    $1,829,560
    -
    $1,636,811
    $3,590,502
    $5,227,313

    Comparable in this City

    • Value Estimation
      $235,000
      6,076 SF

      6180 Mae Anne Ave

      OFFICE BUILDING • 6,076 SF
      6180 Mae Anne Ave, Reno, NV 89523-4729
      View Details
    • Value Estimation
      $505,000
      19,286 SF

      5405 Mae Anne Ave

      OFFICE BUILDING • 19,286 SF
      5405 Mae Anne Ave, Reno, NV 89523-1813
      View Details
    • Value Estimation
      $205,000
      3,406 SF

      9660 Mccarran Blvd

      OFFICE BUILDING • 3,406 SF
      9660 Mccarran Blvd, Reno, NV 89523-9205
      View Details
    • Value Estimation
      $880,000
      3,188 SF

      6160 Mae Anne Ave

      OFFICE BUILDING • 3,188 SF
      6160 Mae Anne Ave, Reno, NV 89523-4724
      View Details
    • Value Estimation
      $220,000
      3,696 SF

      9740 Mccarran Blvd

      OFFICE BUILDING • 3,696 SF
      9740 Mccarran Blvd, Reno, NV 89523-9209
      View Details
    • Value Estimation
      $960,000
      1,302 SF

      5521 4th St

      OFFICE BUILDING • 1,302 SF
      5521 4th St, Reno, NV 89523-9003
      View Details

    Similar Nearby for Sale

    • $4,400,000
      19,286 SF

      Professional Office Building in Reno

      Freestanding office building with recent improvements and flexible layout.
      5405 Mae Anne Ave, Reno, NV 89523
      View Details
    • $650,000
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      Residential Land in Gated Community

      Premium lot with plans for a 3,991 sq. ft. residence.
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      View Details
    • $900,000

      Land For Sale Reno

      Land available for sale in Reno, Nevada.
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    • $575,000
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      Reno Land with Creek Access

      2.6 acres in Belli Ranch Estates with water features.
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      Ideally located townhouse with upgrades and spacious layout.
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    Similar Nearby for Lease

    • Contact for pricing
      594 SF

      Office Space in Reno, Nevada

      594 square feet of office space available for rent.
      2005 Sierra Highlands Dr, Reno, NV 89523
      View Details
    • $15 SF/Yr
      2,228 SF

      Reno Office Space For Rent

      Office space available for lease in Reno, Nevada.
      6148 Mae Anne Ave, Reno, NV 89523
      View Details
    • $3,456 /Mo
      2,100 SF

      Well-Designed Office Complex For Rent

      Office space available in a well-maintained shopping complex.
      1675 Robb Dr, Reno, NV 89523
      View Details
    • $54 SF/Yr
      516 SF

      Reno Office Space For Rent

      Office space available for lease in Reno, Nevada.
      7665 Town Square Ln, Reno, NV 89523
      View Details
    • Contact for pricing
      104,319 SF

      Reno Retail Center Investment Opportunity

      Grocery-anchored center, prime Reno location.
      0 Mae Anne Ave. & Robb Dr, Reno, NV 89523
      View Details
    • Contact for pricing
      1,104 SF

      Retail Space in Ridgeview Plaza

      Retail space available in Northwest Reno's Ridgeview Plaza.
      5100 Mae Anne Ave, Reno, NV 89523
      View Details
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    5365 Mae Anne Ave
    Reno, NV 89523-1840
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    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
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