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235 W Pueblo 235 W Pueblo St

2,785 SF 21% Leased Flex Building Reno, NV 89509 $1,200,000 ($431/SF)

Investment Highlights

  • Potential for multi-family development on lot
  • Good tenant occupancy
  • Flexible space that can accommodate various types of businesses
  • Versatile mixed-use building in the highly coveted Midtown Reno area

Executive Summary

Seize the opportunity to own this versatile mixed-use building in the highly coveted Midtown Reno area. This two-story property offers a unique blend of commercial and residential zoning, making it an ideal investment for entrepreneurs, investors, or businesses. The building can accommodate a variety of businesses. It has a prime location, ample parking, and potential for future development. Plenty of room exists to build a residential building on the rear lot. There is so much untapped value in this property. The upstairs features a welcoming reception area, perfect for greeting clients and guests. Two large spaces are available for rent, offering flexibility for new tenants or businesses looking to expand. These offices are spacious, well-lit, and adaptable to professional needs. Two offices on the second floor are occupied, contributing to the property's income potential. Businesses such as karate studios, nail salons, therapists, dance studios, etc., have occupied the spaces over the past 20 years. The property includes a generous lot in the back that is currently used for parking. This space can accommodate multiple vehicles; the street also provides parking, ensuring convenience for tenants and clients. The large lot offers significant development opportunities. Depending on county regulations, this space could be transformed into a multi-family building or another office structure, maximizing the property value and utility. With established tenants and available office spaces, this property offers immediate rental income with growth potential—the property benefits from easy access to a vibrant community. Midtown is known for its electric mix of shops, dining, and entertainment options, making it a highly desirable area for both businesses and residents.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income $60,000 $21.54
Other Income - -
Vacancy Loss - -
Effective Gross Income $60,000 $21.54
Taxes $2,634 $0.95
Operating Expenses $13,862 $4.98
Total Expenses $16,496 $5.92
Net Operating Income $43,504 $15.62

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual $60,000
Annual Per SF $21.54
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $60,000
Annual Per SF $21.54
Taxes
Annual $2,634
Annual Per SF $0.95
Operating Expenses
Annual $13,862
Annual Per SF $4.98
Total Expenses
Annual $16,496
Annual Per SF $5.92
Net Operating Income
Annual $43,504
Annual Per SF $15.62

Property Facts

Price $1,200,000
Price Per SF $431
Sale Type Investment or Owner User
Property Type Flex
Property Subtype
R&D
  • Office Industrial Live Work Unit
Building Class C
Lot Size 0.16 AC
Rentable Building Area 2,785 SF
No. Stories 2
Year Built 1962
Parking Ratio 4.31/1,000 SF

Amenities

  • 24 Hour Access
  • Signage
  • Yard
  • Reception
  • Air Conditioning

Utilities

  • Lighting - Fluorescent
  • Water - City
  • Sewer - City
  • Heating - Oil (Fired)

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Geologist
  • Professional, Scientific, and Technical Services
  • 400 SF
  • -
  • -
  • Massage Therapy
  • Health Care and Social Assistance
  • 400 SF
  • -
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease End
Geologist Professional, Scientific, and Technical Services 400 SF - -
Massage Therapy Health Care and Social Assistance 400 SF - -

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste A
  • 1,400 SF
  • Office
  • -
  • Now

Utilities Included: Electric, A/C, heat, water, garbage. It is in a quiet neighborhood two blocks from Virginia Street. Off-street parking is at the rear of the building. There is a bathroom and a kitchenette. It is a very safe neighborhood.

  • 2nd Fl - B
  • 800 SF
  • Flex
  • -
  • Now

800 Sq Ft, large, bright, freshly painted office, Pergo flooring, two closets.

Space Size Space Use Condition Available
1st Fl-Ste A 1,400 SF Office - Now
2nd Fl - B 800 SF Flex - Now

1st Fl-Ste A

Size
1,400 SF
Space Use
Office
Condition
-
Available
Now

2nd Fl - B

Size
800 SF
Space Use
Flex
Condition
-
Available
Now

1st Fl-Ste A

Size 1,400 SF
Space Use Office
Condition -
Available Now

Utilities Included: Electric, A/C, heat, water, garbage. It is in a quiet neighborhood two blocks from Virginia Street. Off-street parking is at the rear of the building. There is a bathroom and a kitchenette. It is a very safe neighborhood.

2nd Fl - B

Size 800 SF
Space Use Flex
Condition -
Available Now

800 Sq Ft, large, bright, freshly painted office, Pergo flooring, two closets.

Walk Score ®
Walker's Paradise (90)
Bike Score ®
Very Bikeable (80)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
014-123-12
Land Assessment
$51,546
Improvements Assessment
$43,042
Total Assessment
$94,587
Annual Taxes
$2,634 ($0.95/SF)
Tax Year
2024

zoning

Zoning Code MURES (Flex Building)
MURES (Flex Building)
  • Listing ID: 32536884

  • Date on Market: 7/21/2024

  • Last Updated:

  • Address: 235 W Pueblo St, Reno, NV 89509

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