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121 West St
Reno, NV 89501
Plaza Resort Club · Hospitality Property For Sale
·
103 Rooms
Executive Summary
This property represents a rare and highly versatile investment opportunity.
Currently operating as a hotel with a partial timeshare component.
The asset is well positioned for highest and best use re-imaging, offering multiple
execution paths including continued hospitality operations, adaptive reuse as
urban residential studios, or a mixed-use redevelopment concept. The existing
building configuration, unit mix, structured parking, and amenity base support a
variety of repositioning strategies with limited structural intervention.
In the near term, the property generates ongoing cash flow from multiple
sources, allowing investors to operate under the current hospitality model while
advancing entitlement, design, or conversion plans. This covered-hold profile
mitigates execution risk and provides flexibility in timing and capital deployment.
In its current configuration, the property has 75 Deluxe King Suites, 4 Regal
King Suites (with full kitchens and jetted tubs), 20 Deluxe Double Queens and 4
accessible rooms with either a queen or king bed, without sofa beds. With a total
of 103 active rooms, there are an additional 6 potential room that can easily be
convert back to rooms. The additional 6 rooms are currently being used as offices
and amenities. The total potential room count is 108. Each unit is thoughtfully
designed with upscale finishes and functional layouts, featuring a California
King or Queen bed, sofa sleeper, dining area, dresser, television, refrigerator,
microwave, and a full bathroom with tub/shower and vanity—attributes that lend
themselves well to both extended-stay hospitality and residential conversion.
Complementing the unit mix is a robust suite of shared amenities, including six
levels of covered parking, a rooftop patio and sun deck, an indoor atrium-style
pool, banquet and conference facilities, special event spaces, a cocktail lounge,
fitness center, guest lounge, banquet/dining room, administrative offices, and
an on-site guest laundry room. These features enhance the asset’s competitive
positioning and reduce the capital intensity required for repositioning or
redevelopment.
Located in the heart of the Reno Redevelopment District as well as the national
Opportunity Zone
Currently operating as a hotel with a partial timeshare component.
The asset is well positioned for highest and best use re-imaging, offering multiple
execution paths including continued hospitality operations, adaptive reuse as
urban residential studios, or a mixed-use redevelopment concept. The existing
building configuration, unit mix, structured parking, and amenity base support a
variety of repositioning strategies with limited structural intervention.
In the near term, the property generates ongoing cash flow from multiple
sources, allowing investors to operate under the current hospitality model while
advancing entitlement, design, or conversion plans. This covered-hold profile
mitigates execution risk and provides flexibility in timing and capital deployment.
In its current configuration, the property has 75 Deluxe King Suites, 4 Regal
King Suites (with full kitchens and jetted tubs), 20 Deluxe Double Queens and 4
accessible rooms with either a queen or king bed, without sofa beds. With a total
of 103 active rooms, there are an additional 6 potential room that can easily be
convert back to rooms. The additional 6 rooms are currently being used as offices
and amenities. The total potential room count is 108. Each unit is thoughtfully
designed with upscale finishes and functional layouts, featuring a California
King or Queen bed, sofa sleeper, dining area, dresser, television, refrigerator,
microwave, and a full bathroom with tub/shower and vanity—attributes that lend
themselves well to both extended-stay hospitality and residential conversion.
Complementing the unit mix is a robust suite of shared amenities, including six
levels of covered parking, a rooftop patio and sun deck, an indoor atrium-style
pool, banquet and conference facilities, special event spaces, a cocktail lounge,
fitness center, guest lounge, banquet/dining room, administrative offices, and
an on-site guest laundry room. These features enhance the asset’s competitive
positioning and reduce the capital intensity required for repositioning or
redevelopment.
Located in the heart of the Reno Redevelopment District as well as the national
Opportunity Zone
Property Facts
| Sale Type | Investment | No. Rooms | 103 |
| Property Type | Hospitality | No. Stories | 16 |
| Property Subtype | Hotel | Year Built/Renovated | 1967/2012 |
| Building Class | B | Parking Ratio | 0.22/1,000 SF |
| Lot Size | 0.42 AC | Corridor | Interior |
| Building Size | 89,967 SF | Opportunity Zone |
Yes
|
| Zoning | MUDR | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.42 AC |
| Building Size | 89,967 SF |
| No. Rooms | 103 |
| No. Stories | 16 |
| Year Built/Renovated | 1967/2012 |
| Parking Ratio | 0.22/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | MUDR |
Amenities
- Balcony
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 103 | $164.00 | - |
Property Taxes
| Parcel Number | 011-041-11 | Improvements Assessment | $2,840,266 |
| Land Assessment | $167,878 | Total Assessment | $3,008,144 |
Property Taxes
Parcel Number
011-041-11
Land Assessment
$167,878
Improvements Assessment
$2,840,266
Total Assessment
$3,008,144
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