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Wells Ryland Building 300-328 S Wells Ave 40,852 SF 95% Leased Office Building Reno, NV 89502 $13,870,000 ($339.52/SF) 6.20% Cap Rate
Investment Highlights
- Weighted average lease term remaining of 36 months
- Over 825 businesses located within a 0.5-mile radius
- Situated within the main thoroughfare connecting I-580 to the MidTown and downtown districts
Executive Summary
300 S. Wells Ave. consists of two buildings totaling +/- 40,862 SF on +/- 2.30 AC of land. The property was originally built in 1972 and renovated in 2019 featuring renovated common area restrooms, HVAC and electrical improvements, and a common area courtyard for tenants and their guests. The building is zoned mixed-use (MU) and accommodates a diverse mix of office, retail, and medical office suites, with current tenants including Atelier Beauty Bar, The Mill Barre + Pilates, CNET Media, Tumbles, and Dorinda's Chocolates.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Building Size
40,852 SF
Building Class
B
Year Built/Renovated
1955/2020
Price
$13,870,000
Price Per SF
$339.52
Cap Rate
6.20%
NOI
$859,855
Percent Leased
95%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
40,852 SF
Building FAR
0.46
Lot Size
2.06 AC
Zoning
MUWM - Mixed Use Washoe Medical Regional Center
Parking
51 Spaces (1.25 Spaces per 1,000 SF Leased)
Amenities
- Courtyard
- Signage
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Layout consists of two conference rooms, one break room, and seven private offices.
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl-Ste 7 | 2,222 SF | Retail | Full Build-Out | Now |
1st Fl-Ste 7
| Size |
| 2,222 SF |
| Space Use |
| Retail |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 7
| Size | 2,222 SF |
| Space Use | Retail |
| Build-Out | Full Build-Out |
| Available | Now |
Layout consists of two conference rooms, one break room, and seven private offices.
Exceptionally walkable
90/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $694,597 | |
| Land Assessment | $716,005 | Total Assessment | $1,410,601 |
Property Taxes
Parcel Numbers
Land Assessment
$716,005
Improvements Assessment
$694,597
Total Assessment
$1,410,601
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Wells Ryland Building | 300-328 S Wells Ave
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