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Vassar Market Neighborhood Strip Center 1870 Vassar St 5,672 SF 60% Leased Retail Building Reno, NV 89502 $2,200,000 ($387.87/SF) 3.65% Cap Rate
INVESTMENT HIGHLIGHTS
- Investor/Owner-User Convenience Store Opportunity!
- Convenient Central Reno Location
- Well Maintained
- Four (4) Diverse Retail Tenant Mix
- Value Add Short Term Leases - Increase Income Potential
EXECUTIVE SUMMARY
KW Commercial is pleased to present this established and well-maintained neighborhood strip center. Vassar Market, the primary occupant, is included in the sale, offering an excellent owner/user opportunity. In addition to Vassar Market, the property features four other long-term tenants, generating a steady income stream from retail, professional services, and personal service providers. Located in central Reno with convenient access to I-580, this property offers a prime location with high visibility. The rental income can be further increased as lease terms expire, potentially enhancing the property's cap rate. The property includes 22 parking spaces with easy access onto Vassar Street, making it highly accessible for customers. This is a truly remarkable investment opportunity for both owner-operators and investors. PLEASE DO NOT DISTRUB THE TENANTS! Contact the Listing Agents for a private showing.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
5,672 SF
Building Class
C
Year Built
1991
Price
$2,200,000
Price Per SF
$387.87
Cap Rate
3.65%
NOI
$80,208
Percent Leased
60%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
0.45 AC
Zoning
GC - General Commercial (GC) zoning is a broad category for business uses, including retail, professional services, and certain mixed-use developments.
Parking
24 Spaces (4.23 Spaces per 1,000 SF Leased)
Frontage
152’ on Vassar St.
AMENITIES
- 24 Hour Access
- Security System
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Ideas & Dreams
- Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
- Instant Smog Inc
- Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
- -
- KG Vida Health
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
- Medicare Store
- Finance and Insurance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
- Vassar Market
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Ideas & Dreams | Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
| Instant Smog Inc | Services | 99,999 SF | $9.99 | Lorem Ipsum | - | |
| KG Vida Health | Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
| Medicare Store | Finance and Insurance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
| Vassar Market | Retailer | 99,999 SF | $9.99 | Lorem Ipsum | - |
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 013-333-01 | Total Assessment | $289,077 (2025) |
| Land Assessment | $130,353 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $158,723 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
013-333-01
Land Assessment
$130,353 (2025)
Improvements Assessment
$158,723 (2025)
Total Assessment
$289,077 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Vassar Market Neighborhood Strip Center | 1870 Vassar St
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