SOLD: 12,260 SF Investment Property
Property Specifics
12,260 SF
Price $3,748,000
Zoning: MU
Land Parcel: 0.282 Acres
Property Address
DOWNLOADS & CONTACT
Carole Brill, Carole@RMDNevada.com, 775.338.3844 (Cell)
Description
This Class A office building — located in South Meadows’ Damonte Ranch, a growing and prestigious area of Reno, Nevada — is 100% occupied. The property is in an attractive, well maintained community, where communal courtyards and superb landscaping create a tranquil and peaceful work environment.
Damonte Ranch is south of Reno, and situated directly off US-580. The location is excellent, with approximately 2,100 new homes under construction to the East of the development and growing retail across the road — the amenities are in abundance with direct access to public transportation, retail, restaurants, banks and national outlets.
The current A+ credit tenant has been in their unit 735 for over fifteen years. A new seven year lease commences in unit 765 in November 2018.
Net Operating Income
November 2018 – October 2019
Income: $326,636
Expenses
Management: $11,353.85
Real Property Taxes: $20,000
Association Dues: $32,235
Net Operating Income $228,860
Features
- Professional, well maintained class A office building
- High-end location
- 100% Occupied
- Close to freeway
- In a growing area
- On bus route
- Well maintained by Association
