218-222 California Ave 8,300 SF 50% Leased Office Building Reno, NV 89509 $3,075,000 ($370.48/SF)

218-222 California Avenue in Downtown Reno presents a two-story office building offering an exceptional investment opportunity. With a total of 8,300 square feet of space on a 0.17-acre lot with an additional 0.088-acre lot totaling 0.258 acres. The property includes move-in-ready office space with private parking and a kitchenette. Each floor spans 4,150 square feet, and the basement provides additional storage or filing space. Currently, the building generates $34,250 in annual rent just from the 2nd floor, while the ground floor was occupied by the owner. This provides immediate cash flow at below-market rents, leaving ample upside potential. With the property situated in the Mixed-Use Downtown Riverwalk District, there is significant potential for future redevelopment and growth. 218-222 California Avenue is a prime value-add opportunity with lease upside of the first floor and adjusting rental rates to align with the rising market. This office property is perfect for investors and owner/users looking to capitalize on a highly sought-after location.

218-222 California Avenue enjoys a prime location with easy access to major infrastructure, ensuring that tenants and clients can reach it conveniently. The building is within 2 miles from Interstates 80 and 580, facilitating smooth travel throughout Reno. The property sits along a main thoroughfare with great walkability and unrivaled exposure to nearly 9,000 daily vehicles. For business travelers, Reno-Tahoe International Airport is only a 10-minute drive away, while public transportation options, including nearby train stations and bus routes, make commuting a breeze. In addition to its central location, the property is surrounded by an array of amenities, including popular national retailers such as Costco, Walmart, CVS, Starbucks, and more, all within a 2-mile radius. The proximity to the University of Nevada and other educational institutions further strengthens the area’s appeal, providing tenants with access to a highly educated and skilled workforce.

The area surrounding 218-222 California Avenue is one of Reno’s most desirable neighborhoods, offering both a vibrant business environment and an exceptional lifestyle. With nearly 250,000 residents living within a 5-mile radius, the region continues to grow rapidly, attracting young professionals and families. Reno’s economy is diversifying, with booming industries in technology, advanced manufacturing, logistics, and healthcare. As one of the fastest-growing regions in the U.S., the city’s strong economic fundamentals are bolstered by ongoing investments in infrastructure and mixed-use developments along the Truckee Riverfront. 218-222 California Avenue is a rare and valuable property in a market that shows no signs of slowing down. With its potential for revenue growth, prime location, and proximity to key amenities, this offering presents a unique opportunity for investors and owner-users.