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Military Rd
Reno, NV 89506
96 Townhomes or Apartment Site Plan · Land For Sale
·
8.00 AC
PROPERTY FACTS
DESCRIPTION
The property is currently unimproved. The conceptual site plan shows a possible yield of 112 multi-family units with an even mix of one and two bedroom units with 241 parking stalls and open space for resident use. The apartment market in Reno is very strong. Overall vacancy rates are near 2 percent and rents show strong growth in all submarkets as gains in employment and income fuel expansion in the Reno/Sparks area. Military Road is located at the center of new development in Reno' s North Valleys. The site is adjacent to residential subdivisions and the 1.6 million square foot Logisticenter II. Major companies such as Amazon, Marmot, General Motors, and Petco operate in the area. The site is within walking distance to the main retail center, which inludes Walmart and the North Valleys Regional Park. Residential growth in the immediate area is strong. Several new residential developments are currently under construction on Military Road. More than 1,000 homes could be built over the next few years. The site offers exceptional visibility being located next to Military Road, one of the main thoroughfares in the area. The Reno-Tahoe airport is only a 15 minute drive with easy access to U.S. 395.
