Long Term Leased Investment For Sale
$1,529,000
516 S Virginia St, Reno, NV 89501
For Sale
Retail
Restaurant
Active
Last Updated: 09/12/2024
5
Cap Rate
74,984
NOI
Details:
Cap Rate: 5%
NOI: $74,984
Building Size: 2,102 sqft
Lot Area: 0.16 acres
Class: B
Lease Type: Triple Net
Year Built: 1930
Zoning: MUSV
Year Last Renovated: 2016
Lease Expire Year: 12/31/2029
Highlights:
- MIDTOWN
- SUCCESSFUL RESTAURANT ON A LONG TERM NNN LEASE
- NNN Lease has 2.5% ANNUAL RENTAL INCREASES
- PARKING ON SITE
- Current lease term expires 1/31/29 and tenant has one five year options to renew
Description:
• Building Size 2,102 sq ft + Outdoor Patio!
• Lot Size: 0.16 acres
• Parking: On Site Parking lot
• Zoning: MUSV
• APN: 011-192-08
• Built: 1930 / fully renovated 2016
• Leased: Long Term Leased investment
PROPERTY DESCRIPTION
Located at the Heart of Midtown & Downtown Reno. A fantastic restaurant site with
parking and a large outdoor patio. Tenant just exercised the first of two Five year options
to renew showing commitment to the location and success of the business.
Location
Gallery
