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Shopping Strip

300 Kietzke Ln

300 Kietzke Ln, Reno, NV 89502

Listing Price: $2,975,000

Cap Rate
1.16%
Gross SF
11,629
Rentable SF
11,629
Price/Gross SF
$255.83
Lot Size
0.47 acres
Year Built
1964

Investment Overview

The Subject Property, 300 Kietzke Lane, is an 11,629 square-foot mixed-use building situated on 0.47 acres in Reno, Nevada. The property consists of 8,709 square feet of ground-level commercial space, and six second-story apartment units totaling 2,920 square-feet. The property was fully renovated in 2015, including both interior and exterior. 6,709 square feet of the commercial space is currently used as a banquet hall (but will be offered vacant at close of escrow), and the other 2,000 square feet is a commercial kitchen that is currently leased (and the tenant would like to stay.) The apartment unit mix is comprised of four studios, 1 one-bedroom, and two former studio units which the current owner uses as an office and storage. This offering is ideal for an owner-user who would like to occupy the 6,709 square foot commercial space, and collect rental income from the second story apartments. In addition, an investor could lease the commercial space to achieve desirable returns. The site enjoys excellent visibility, access, and signage along Kietzke Lane (19,150 Cars Per Day), which is one of Reno’s primary thoroughfares. In addition, the property is easily accessed from Highway 395 and Downtown Reno. A number of regional and national businesses are nearby, including Renown’s Regional Medical Center, and a variety of restaurants, retailers, and office users. The entire Northern Nevada region, including Reno, has seen tremendous growth in recent years due to an influx of companies seeking the business-friendly tax climate and laws. The addition of companies with an international presence in Technology, Manufacturing, Distribution, Medical, and more has given Northern Nevada a robust, diversified economy. With flexible zoning and a desirable location, this property can support a variety of businesses and tenants. Offered at $2,975,000, this property provides an investor or owner-user the opportunity to own versatile real estate below replacement cost.

Investment Highlights

  • Excellent Visibility, Signage, and Access Along Kietzke Lane – A Primary thoroughfare which sees 19,150 Cars Per Day
  • Located in a Densely Populated Trade Area - Over 249,000 Residents in a Five-Mile Radius
  • Second Story Apartments Provide Consistent Income for Investors and Owner/Users Alike

Exclusively Listed By

Shopping Strip

300 Kietzke Ln

Listing Price: $2,975,000

Cap Rate
1.16%
Gross SF
11,629
Rentable SF
11,629
Price/Gross SF
$255.83
Lot Size
0.47 acres
Year Built
1964

Investment Highlights

  • Excellent Visibility, Signage, and Access Along Kietzke Lane – A Primary thoroughfare which sees 19,150 Cars Per Day
  • Located in a Densely Populated Trade Area - Over 249,000 Residents in a Five-Mile Radius
  • Second Story Apartments Provide Consistent Income for Investors and Owner/Users Alike

Investment Overview

The Subject Property, 300 Kietzke Lane, is an 11,629 square-foot mixed-use building situated on 0.47 acres in Reno, Nevada. The property consists of 8,709 square feet of ground-level commercial space, and six second-story apartment units totaling 2,920 square-feet. The property was fully renovated in 2015, including both interior and exterior. 6,709 square feet of the commercial space is currently used as a banquet hall (but will be offered vacant at close of escrow), and the other 2,000 square feet is a commercial kitchen that is currently leased (and the tenant would like to stay.) The apartment unit mix is comprised of four studios, 1 one-bedroom, and two former studio units which the current owner uses as an office and storage. This offering is ideal for an owner-user who would like to occupy the 6,709 square foot commercial space, and collect rental income from the second story apartments. In addition, an investor could lease the commercial space to achieve desirable returns. The site enjoys excellent visibility, access, and signage along Kietzke Lane (19,150 Cars Per Day), which is one of Reno’s primary thoroughfares. In addition, the property is easily accessed from Highway 395 and Downtown Reno. A number of regional and national businesses are nearby, including Renown’s Regional Medical Center, and a variety of restaurants, retailers, and office users. The entire Northern Nevada region, including Reno, has seen tremendous growth in recent years due to an influx of companies seeking the business-friendly tax climate and laws. The addition of companies with an international presence in Technology, Manufacturing, Distribution, Medical, and more has given Northern Nevada a robust, diversified economy. With flexible zoning and a desirable location, this property can support a variety of businesses and tenants. Offered at $2,975,000, this property provides an investor or owner-user the opportunity to own versatile real estate below replacement cost.

Exclusively Listed By

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