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600 W Main St - 600 W Main Street

28.42 Acres of Commercial Land Offered at $6,900,000 in Fernley, NV 89408

Commercial Land Nevada Fernley 600 W Main St, Fernley, NV 89408

Investment Highlights

  • A ±28 acre, fully-entitled, 276-unit multifamily & commercial development site.
  • Situated within a market that is rapidly expanding due to its affordability compared to nearby metros of Reno/Sparks.
  • Close to major employment centers, including the largest industrial park in North America, the 107,000-acre Tahoe Reno Industrial Center.
  • Located in an Opportunity Zone, offering significant tax advantages.
  • Development Ready Site. All utilities to site, 112 acre feet of water rights included.
  • Proximity to major transportation corridors including Interstate 80, US Highway 50, and US Highway 95 Alt.

Executive Summary

Alternatively, the entitlements could be modified to reduce the commercial acreage and increase multifamily unit count to 340 units. The property can be developed all at once, or in part. Multifamily parcels could be purchased and developed separately from the commercial parcels providing the utmost flexibility for a prospective investor/developer. With all utilities to site and development studies completed, construction can begin promptly. Current market conditions and the flexibility of existing zoning put the property in a prime position for development. The Fernley and Lyon County markets are short on housing due to the rapid influx of sizeable industrial developments and employment centers in the area. Demand for denser housing, office, and retail space in the area is growing with the expansion of numerous manufacturing facilities, large distribution centers as well as the U.S. Top Gun/Naval Base in nearby Fallon. The July 2024 median sales price for existing single-family residences in Lyon County was $414,995, an increase of 9.2 percent from the previous year. With home prices elevated, the demand for rental units continues to be high.

Property Facts

Price $6,900,000 Property Subtype Commercial
Sale Type Investment or Owner User Proposed Use
Commercial
  • Retail
  • Office
  • Hospitality
  • Apartment Units
  • Hotel
No. Lots 1 Total Lot Size 28.42 AC
Property Type Land Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price $6,900,000
Sale Type Investment or Owner User
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Retail
  • Office
  • Hospitality
  • Apartment Units
  • Hotel
Total Lot Size 28.42 AC
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 Lot Available

Lot

Price $6,900,000 Lot Size 28.42 AC
Price Per AC $242,787
Price $6,900,000
Price Per AC $242,787
Lot Size 28.42 AC

CBRE is pleased to present for sale 600 W. Main, a rare, a fully entitled, ±28.42 acre mixed-use development site consisting of a 276-unit garden style apartment community and various additional commercial parcels slated for office and retail uses.

Description

Located right off of Interstate 80 and adjacent to existing, under construction, and planned employment centers. The 107,000-acre Tahoe Reno Industrial Center is located just 15 miles west of the site; the new 78-acre Nevada Commerce Center by Buzz Oates, as well as a new 446,940 sq. ft. industrial project by Mohr Capital are located within a mile. The 4,300-acre Victory Logistics District, master planned by Mark IV Capital, is also just to the northeast.

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600 W Main St, Fernley, NV - aerial map view - Image1
600 W Main St, Fernley, NV - aerial map view - Image2
600 W Main St, Fernley, NV - aerial map view - Image3

PROPERTY TAXES

Parcel Numbers
Multiple
  • 021-071-03
  • 021-071-02
 Improvements Assessment $0
Land Assessment $480,857 Total Assessment $480,858

PROPERTY TAXES

Parcel Numbers
Multiple
  • 021-071-03
  • 021-071-02
Land Assessment
$480,857
Improvements Assessment
$0
Total Assessment
$480,858

zoning

Zoning Code Mixed Use (Mixed Use)
Mixed Use (Mixed Use)
(775) 233-7049

Contact

  • Listing ID: 28399620

  • Date on Market: 5/4/2023

  • Last Updated:

  • Address: 600 W Main St, Fernley, NV 89408

More public record information on 600 W Main St, Fernley, NV 89408

The Land Property at 600 W Main St, Fernley, NV 89408 is currently available for sale. Contact CBRE, Inc. for more information.

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600 W Main St - 600 W Main Street
(775) 233-7049 x

600 W Main St - 600 W Main Street

Aiman Noursoultanova

(775) 233-7049

(775) 233-7049

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