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Property profile & analytics
FOR LEASE
Banks
5905 S Virginia St Reno, NV 89502
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US62-0238199
For Lease
1 / 7
$23.40 SF/Yr
5905 S Virginia St, Reno, NV 89502
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Property summary
AI-generated overview
This exceptional Class A office building, located at 5905 S Virginia St, Reno, NV 89502, offers 9,690 square feet of immediately available space in a variety of configurations ranging from 3,832 to 5,857 contiguous square feet. The three-story, 29,616 square foot building, constructed in 1990 and renovated in 2024, boasts two passenger elevators and ample surface parking (4 spaces per 1000 square feet). Situated on a 3.37-acre lot, this property enjoys outstanding visibility from South Virginia Street and I-580/US 395, with potential for building and monument signage. Its prime location across from Meadowood Mall provides easy access to major thoroughfares, public transportation, numerous amenities, and restaurants. The full-service lease rate of $1.85 per square foot per month (excluding suite janitorial) is highly competitive for the Meadowood submarket. The building is professionally managed and well-maintained, offering a desirable environment for businesses seeking a prestigious address in Reno. The building features a Bank of America branch on the ground floor.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1990
Construction
WOOD
Total area
31,174 SF
Lot
3.37 ac (146,754 SF)
Zoning code
MU
APN
040-141-31
UPID
US62-0238199
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
-
Mortgage, Bank of America Loan Service Bank
-
| Amos Realty Team Real Estate Agency
-
The Happiest Hour Big Box & Wholesale Store Distribution Center
-
The Gabrielli Homes Team at RE/MAX Professionals Real Estate Agency
-
Bank of America ATM (Drive-thru) Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$915k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$1.38M
Owner & transaction history
Cypress Meadowood LLC · 13 yrs held
Cypress Meadowood LLC
since 2013
3 recorded transactions
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Method
Estimation
Statistic approach
by Request
ML approach
$915,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.38M
Range $1.24M – $1.52M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$44 / SF
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
$30,487
Tax year 2023
Assessed value
$1,094,434
Assessed 2023
Previous assessed
$1,010,318
+8.3% YoY
Effective rate
2.79%
On assessed value
Assessed land
$719,095
Assessed improvement
$375,339
Land market value
$2,054,556
Improvement market value
$1,072,398
Total market value
$3,126,954
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
Banks
Use group
FINANCIAL BUILDING
Status
For Lease
Year built
1990
Construction
WOOD
Heating
HOT WATER
Cooling
REFRIGERATOR
Stories
3
Units
1
Total area
31,174 SF
Lot
3.37 ac (146,754 SF)
Zoning code
MU
APN
040-141-31
UPID
US62-0238199
Jurisdiction
WASHOE
Zoning & alternative use
MU · Reno, NV
Zoning MU · permitted uses
MU · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reno. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
1
Lot
3.37 ac
Current owner
From public records · entity-resolved
Cypress Meadowood LLC
Entity
Mailing address
1005 TERMINAL WAY STE #259, RENO, NV 89502-2186
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 10, 2013
$1,625,000
Cypress Meadowood LLC
First States Investors 72 LLC
Grant Deed
—
Dec 23, 2002
$5,116,190
First States Investors 72 LLC
Bank Of America
Grant Deed
related
—
—
—
First States Invtrs 3006
—
Deed Of Trust
related
$18,800,000 · Wachovia Bank NA
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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