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1496-1500 S Virginia St 1.24 Acres of Commercial Land Offered at $4,500,000 in Reno, NV 89502

Commercial Land Parcels Nevada Reno 1496-1500 S Virginia St, Reno, NV 89502

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Executive Summary

Properties are located in the Opportunity Zone and the Reno Development District, adding value to this property.
Highest and best use would be a multi-level building with commercial fronting S. Virginia and Luxury Condos/Apartments on the upper levels.
Seller will consider Commercial, residential or Multifamily as partial trade.

Financial Summary (Actual - 2025) Click Here to Access

Annual Annual Per AC
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Net Operating Income - -

Financial Summary (Actual - 2025) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per AC $9.99
Other Income
Annual -
Annual Per AC -
Vacancy Loss
Annual -
Annual Per AC -
Effective Gross Income
Annual $99,999
Annual Per AC $9.99
Net Operating Income
Annual -
Annual Per AC -

Property Facts

Price $4,500,000 Property Subtype Commercial
Sale Type Investment Proposed Use
Commercial
  • Retail
  • Office
  • Mixed Use
  • Multifamily
  • Apartment Units
  • Apartment Units - Condo
  • Apartment Units - Senior
  • Auto Dealership
  • Auto Repair
  • Bank
  • Bar
  • Carwash
  • Convenience Store
  • Drugstore
  • General Freestanding
  • Restaurant
Sale Condition 1031 Exchange Total Lot Size 1.24 AC
No. Lots 1 No. Stories 1
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.
Zoning MUSV
Price $4,500,000
Sale Type Investment
Sale Condition 1031 Exchange
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Retail
  • Office
  • Mixed Use
  • Multifamily
  • Apartment Units
  • Apartment Units - Condo
  • Apartment Units - Senior
  • Auto Dealership
  • Auto Repair
  • Bank
  • Bar
  • Carwash
  • Convenience Store
  • Drugstore
  • General Freestanding
  • Restaurant
Total Lot Size 1.24 AC
No. Stories 1
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.
Zoning MUSV

1 Lot Available

Lot

Price $4,500,000 Lot Size 1.24 AC
Price Per AC $3,629,032.26
Price $4,500,000
Price Per AC $3,629,032.26
Lot Size 1.24 AC

Prime development property in the Midtown District. This property is zoned mixed use with unlimited potential. The sale consists of 3 parcels 012-234-20,21,22. Property addresses include 1496 and 1500 S. Virginia Street. Total lot size 1.24 acres.

1 1
Very walkable
80/100
Moderately drivable
60/100
Some public transit
40/100
Moderately bikeable
60/100
Source: Local Logic®

Property Taxes

Parcel Numbers
Multiple
  • 014-234-20
  • 014-234-22
  • 014-234-21
 Improvements Assessment $77,706 (2026)
Land Assessment $585,792 (2026) Total Assessment $663,497 (2026)

Property Taxes

Parcel Numbers
Multiple
  • 014-234-20
  • 014-234-22
  • 014-234-21
Land Assessment
$585,792 (2026)
Improvements Assessment
$77,706 (2026)
Total Assessment
$663,497 (2026)
(775) 750-4353

Still interested?

Contact the broker for more information about this property

Contact

  • Listing ID: 39712605

  • Date on Market: 3/9/2026

  • Last Updated:

  • Address: 1496-1500 S Virginia St, Reno, NV 89502

The Midtown Reno Land Property at 1496-1500 S Virginia St, Reno, NV 89502 is currently available. Contact New Dimensions, Inc. for more information.

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1496-1500 S Virginia St

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