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Shopping Strip

Sportsman's Corner

401 Vine St, Reno, NV 89503

Listing Price: $6,900,000

Cap Rate
0.52%
Rentable SF
26,258
Lot Size
1.52 acres
Year Built
1977

Investment Overview

The subject property, currently known as "Sportsman's Corner", is a 26,258 square-foot multi-tenant retail center on 1.52 acres located in Reno, Nevada. More specifically, the property is located at the signalized intersection of West 4th Street and Vine Street. The current ownership has intentionally let leases expire in recent years, creating a predominantly unencumbered center. This will allow new ownership to take advantage of the immense growth being experienced in the immediate surrounding area. Sportsman's Corner is situated in the heart of Reno’s most prominent development projects. Jacobs Entertainment, a national entertainment and hospitality company, has begun a mixed-use redevelopment known as the “Neon Line District” which will encompass 20 city blocks. Development costs are expected to exceed One Billion Dollars, over $100M of which had already gone towards land acquisition. The subject property is also a stone’s throw away from a development known as “5th and Vine”. S3 Development has begun construction on 300+ new apartments units and 45,000 square-feet of commercial space. Operators such as Starbucks and In-N-Out Burger have already committed to this location. The subject property is also located within Reno's Business Improvement District, which is a private, non-profit organization. The organization works with businesses, property owners, residents, and government in an effort to make the core of the city cleaner, safer, and friendlier through the use of ambassadors who have a daily presence in the area. Completed in 1977, Sportsman’s Corner was built using high quality masonry construction. The building has been well maintained throughout the years, including a new roof and paint within the past three years. The property has a large parking lot along with street parking, and a 35’ tall three-sided monument sign. In addition, the large 1.52 acre lot has flexible Mixed-Use Zoning which allows for unlimited density and a variety of uses should new ownership wish to re-develop the site. This location can support multiple property types, which the surrounding projects demonstrate. Sportsman’s Corner has never been sold – it has been held by the same owners for generations. Priced at $6,900,000, this offering presents a rare opportunity to acquire a property that lends itself to nearly unlimited uses.

Investment Highlights

  • Located at the Entrance of the Neon Line District - A $1 Billion+ Mixed Used Development In Progress
  • Easily Accessed From I-80, which has 110,000 Vehicles Per Day (NDOT Estimate)
  • The Subject Property is 0.5 Miles from Downtown Reno
  • Surrounded by Dozens of National Retailers, Creating Excellent Synergy
  • Located Near the Intersection of Keystone Avenue and W. 4th Street, Two of Reno's Main Thoroughfares

Exclusively Listed By

Shopping Strip

Sportsman's Corner

Listing Price: $6,900,000

Cap Rate
0.52%
Rentable SF
26,258
Lot Size
1.52 acres
Year Built
1977

Investment Highlights

  • Located at the Entrance of the Neon Line District - A $1 Billion+ Mixed Used Development In Progress
  • Easily Accessed From I-80, which has 110,000 Vehicles Per Day (NDOT Estimate)
  • The Subject Property is 0.5 Miles from Downtown Reno
  • Surrounded by Dozens of National Retailers, Creating Excellent Synergy
  • Located Near the Intersection of Keystone Avenue and W. 4th Street, Two of Reno's Main Thoroughfares

Investment Overview

The subject property, currently known as "Sportsman's Corner", is a 26,258 square-foot multi-tenant retail center on 1.52 acres located in Reno, Nevada. More specifically, the property is located at the signalized intersection of West 4th Street and Vine Street. The current ownership has intentionally let leases expire in recent years, creating a predominantly unencumbered center. This will allow new ownership to take advantage of the immense growth being experienced in the immediate surrounding area. Sportsman's Corner is situated in the heart of Reno’s most prominent development projects. Jacobs Entertainment, a national entertainment and hospitality company, has begun a mixed-use redevelopment known as the “Neon Line District” which will encompass 20 city blocks. Development costs are expected to exceed One Billion Dollars, over $100M of which had already gone towards land acquisition. The subject property is also a stone’s throw away from a development known as “5th and Vine”. S3 Development has begun construction on 300+ new apartments units and 45,000 square-feet of commercial space. Operators such as Starbucks and In-N-Out Burger have already committed to this location. The subject property is also located within Reno's Business Improvement District, which is a private, non-profit organization. The organization works with businesses, property owners, residents, and government in an effort to make the core of the city cleaner, safer, and friendlier through the use of ambassadors who have a daily presence in the area. Completed in 1977, Sportsman’s Corner was built using high quality masonry construction. The building has been well maintained throughout the years, including a new roof and paint within the past three years. The property has a large parking lot along with street parking, and a 35’ tall three-sided monument sign. In addition, the large 1.52 acre lot has flexible Mixed-Use Zoning which allows for unlimited density and a variety of uses should new ownership wish to re-develop the site. This location can support multiple property types, which the surrounding projects demonstrate. Sportsman’s Corner has never been sold – it has been held by the same owners for generations. Priced at $6,900,000, this offering presents a rare opportunity to acquire a property that lends itself to nearly unlimited uses.

Exclusively Listed By

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