9780 Virginia St Reno, NV 89511-5941
- Turn key restaurants
- 4,159 SF
- 0.71 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 9780 Virginia St
- Year built
- 2012
- Construction
- STEEL FRAME
- Lot size
- 0.71 lot acres
- Property size
- 4,159 SF
- Zone code
- MS
- Property type
- Turn key restaurants
- APN
- 163-120-07
- APU
- 16312007
Description
This exceptional investment opportunity presents a fully leased, Class A, standalone restaurant building in Reno, Nevada. The property, located at 9780 S. Virginia St., boasts a newly signed 10-year net lease with 999 Pho, a popular Vietnamese restaurant, commencing September 1, 2024, and expiring August 31, 2034. The 4,922 square foot building, constructed in 2012 and extensively renovated in 2022, features a 4,159 square foot main floor with a remodeled kitchen and a 763 square foot mezzanine/office space. The property benefits from high visibility with significant frontage along S. Virginia Street, a prime location just half a block north of the I-580/S. Meadows Pkwy interchange. The 0.78-acre lot provides ample parking with 28 spaces. The property is zoned MS and offers a strong net operating income (NOI) of $174,000, representing a 6.00% cap rate on the $2,900,000 asking price. This is a single-tenant, 100% occupied investment with a price per square foot of $589.19. The building is a two-story structure with one building on the site. This is a rare opportunity to acquire a high-performing, well-located restaurant property with a long-term lease in place.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,335,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,540,000
- 6.5%
- $2,190,000
- 7%
- $2,640,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,235,000
- Geo Method
- $2,145,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,290,000
- Retail
- $1,880,000
- Mixed-Use
- $2,015,000
- Hospitality
- $2,325,000
- Educational
- $2,360,000
- Residential Income
- $2,530,000
- Energy
- $2,380,000
- Income-Based Land
- $2,430,000
- Food Service
- $1,870,000
Location Insight
- Map
- Local Demand
- City
- Reno
- County
- Washoe
- State
- Nevada
- Longitude
- -119.771
- Latitude
- 39.4418
- CBSA code
- 39900
- CBSA name
- RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA
