600 University - 600 University Way Development Land 2.71 Acres of Residential Land in Reno, NV 89501
INVESTMENT HIGHLIGHTS
- Approved for 277 Student Housing Units (619 Beds)
- Mixed Use Zoning
- Once In Lifetime Development Opportunity
- Can Be Market Rate Apartments
- 0.4 Miles To The University of Nevada Reno, 0.4 Miles to "The Row"
EXECUTIVE SUMMARY
600 University Way is a full city block with in the Downtown/University Reno submarket. This site boasts easy access to Interstate 80 and public transportation and is less than a mile south of The University of Nevada, Reno. Building both new student housing or traditional multifamily housing would allow the developer unlimited density, brand new units, with great walkability creating a strong tenant demand.
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Lot Size | 2.71 AC |
Lot dimensions are 299 ft by 394 ft
DESCRIPTION
Downtown Reno A casino lined street, with quaint local shops, national restaurants and local small-town restaurants, and plays host the areas major events. Downtown Reno has something for everyone to enjoy. Downtown revitalization starts with The Virginia Street Project expands the bus line between downtown Reno and Midtown, expand the sidewalks, bike paths, and improve the connectivity between downtown, Midtown and The University Nevada, Reno. The Row is a recent merger between Eldorado Resorts and Caesars Entertainment unites three major Reno casinos with a recent renovation creating a connecting indoor walking paths, adding new entertainment like Topgolf Swing Suite and numerous restaurants. The Neon Line District is a new district within the downtown Reno submarket. This new revitalization has begun to transform the west end of downtown Reno. Developers have purchased, built, and redevelop old buildings and land pads throughout the area. This addition of new and renovated commercial and residential buildings to the area will bring a new energy to western downtown and provide a new experience destination for retailers, residents, and tourists. The Neon Line District lights up the streets at night quickly becoming Reno’s newest place to be. The State of Nevada Nevada has made its mark as the business-friendly state in the West. Major high profile employers have made their move to Nevada escaping high tax neighboring state for Nevada’s business friendly, tax friendly, development friendly climate. Nevada ranks #7 best state in the Tax Foundation’s 2024 State Business Tax Climate Index Reno ranks #2 for the largest midsize manufacturing hub Major Non-Gaming Employers Amazon, General Motors, Tesla, Renown Medical Center, Redwood Materials, Microsoft, Switch
PROPERTY TAXES
| Parcel Number | 007-361-17 | Improvements Assessment | $0 |
| Land Assessment | $772,624 | Total Assessment | $772,624 |
ZONING
| Zoning Code | MD-UD (Multi-use allows for commercial and residential uses with unlimited height and density allowed.) |
