9780 Virginia St Reno, NV 89511-5941

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.