Technical
Financial
Distress signals
Property profile

7520 Longley Ln Reno, NV 89511

OFF-MARKET
Strip malls
Property ID
US62-0366507
7,968 SF 0.76 ac lot Built 2007
Trust Owned 6-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This two-story, 7,698 square foot retail strip center in Reno, Nevada's South Meadows submarket, presents a compelling investment opportunity. Built in 2007, the property is situated at 7520 Longley Lane, near the intersection of Longley Lane and South Virginia Street, offering convenient access to Interstate 395. The center features a mix of uses, as indicated by its Mixed-Use Suburban zoning. Currently, 3,491 square feet of retail space is available, previously occupied by a martial arts studio. This space boasts an open floor plan on the first floor, including two bathrooms and storage, and a mezzanine level offering an additional 1,441 square feet. The property's location provides excellent visibility and proximity to various restaurants and fast-food establishments, ensuring high foot traffic and potential for strong tenant occupancy. The Washoe County property (APN 164-110-04) offers a unique chance to acquire a well-located retail space in a thriving Reno neighborhood. The building's total area is 7,698 square feet, spread across two stories. This presents a versatile space suitable for a variety of retail businesses. The property's strategic location near major roadways and amenities makes it an attractive option for both investors and potential tenants.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2007
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 7,968 SF
Lot 0.76 ac (33,255 SF)
Zoning code MS
APN 164-110-04
UPID US62-0366507

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Dental Office
  • Dental Office
  • Dental Office
  • (Bike/Boat/Book/etc) Store Clothing & Fashion Store
  • Dental Office

Location

7520 Longley Ln Reno, NV 89511-1211
Reno metro Census 2215 RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.78M
Comparable Approach Comparable
by Request
Blend (final) Blend
$365k

Owner & transaction history

since 2019
7 recorded transactions
2020
Price N/A
2019
$4.2M
2007
$490,000
2005
$490,000
2004
Price N/A
2003
$282,690
2000
Price N/A

Zoning & alternative use

MS · Reno, NV
Zoning description

The MS district is intended to promote the gradual transition of the City suburban corridors to a mix of higher-density residential, retail, commercial, and other employment and service-oriented uses. Mixed-Use Suburban…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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