2302 Oddie Blvd - 108-Unit Multifamily Development Opportunity
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2302 Oddie Blvd - 108-Unit Multifamily Development Opportunity
2.37 Acres of Commercial Land Offered at $2,160,000 in Sparks, NV 89431
Investment Highlights
- A 108-unit multifamily development opportunity on approximately two acres in Sparks, ideal for an affordable housing development.
- Site is the beneficiary of a recent, $55 million Reno Transportation Project known as the “Oddie-Wells Corridor multi-modal Improvement project.”
- Located seven minutes from the University of Nevada, Reno, less than a mile from Interstate 80, and a half mile from Interstate 580.
- Located adjacent to The Oddie District, an Urban Infill Redevelopment project.
- Submarket features new tenants like El Super Market and Starbucks, as well as existing national retailers like Walgreen's & Dollar Tree.
- Multifamily-entitled land in HUD Qualified Census Tract zone; numerous federal and state tax credits available for a qualified developer.
Executive Summary
CBRE Inc. is pleased to offer for sale a 108-unit multifamily-entitled development site located in a HUD Qualified Census Tract zone. The property includes entitled land which calls for the development of three, three-story, 36-unit buildings, with 108 surface parking spaces. Excellent opportunity to develop affordable housing in an underserved area. Numerous federal and state tax credits available for a qualified developer.
The site is directly north of the 81,247 square-foot Evergreen Plaza Shopping Center and directly west of the newly-built 288-unit Parq Crossing luxury apartments. The site is also located within the same center as the 62,000 sq. ft. Generator Maker Space, which is part of the Oddie District, an urban infill redevelopment project.
Other existing or recently announced tenants in the Oddie District include Cartwheel Robotics, CoffeeBar, Fifty Fifty Brewing Company, Mythic Gymnastics, Nevada Works, and The Innovation Collective.
The submarket also recently benefitted from a $55 million Reno Transportation Commission road improvement project, which updated over 2 miles of roadway, adding bike lanes and pedestrian safety features.
The retail portion of the center may also be acquired separately. Please contact broker for more info.
The site is directly north of the 81,247 square-foot Evergreen Plaza Shopping Center and directly west of the newly-built 288-unit Parq Crossing luxury apartments. The site is also located within the same center as the 62,000 sq. ft. Generator Maker Space, which is part of the Oddie District, an urban infill redevelopment project.
Other existing or recently announced tenants in the Oddie District include Cartwheel Robotics, CoffeeBar, Fifty Fifty Brewing Company, Mythic Gymnastics, Nevada Works, and The Innovation Collective.
The submarket also recently benefitted from a $55 million Reno Transportation Commission road improvement project, which updated over 2 miles of roadway, adding bike lanes and pedestrian safety features.
The retail portion of the center may also be acquired separately. Please contact broker for more info.
Property Facts
1 Lot Available
Lot
| Price | $2,160,000 | Lot Size | 2.37 AC |
| Price Per AC | $911,392 |
| Price | $2,160,000 |
| Price Per AC | $911,392 |
| Lot Size | 2.37 AC |
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Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 026-284-34 | Improvements Assessment | $1,294,555 |
| Land Assessment | $804,684 | Total Assessment | $2,099,239 |
PROPERTY TAXES
Parcel Number
026-284-34
Land Assessment
$804,684
Improvements Assessment
$1,294,555
Total Assessment
$2,099,239
zoning
| Zoning Code | MUD (Mixed Use Development) |
| MUD (Mixed Use Development) |
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2302 Oddie Blvd - 108-Unit Multifamily Development Opportunity
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