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Providence Building 550 E Plumb Ln 5,940 SF 96% Leased Office Building Reno, NV 89502 $1,555,111 ($261.80/SF) 6.21% Cap Rate
Investment Highlights
- Prime Reno Location
- Value-Add Opportunity
- Strong Income Potential
- Flexible Ownership Options
Executive Summary
**Prime Value-Add Office Investment – East West Center**
550 E Plumb Lane, Reno, NV 89502
**Asking Price: $1,555,111** ($262/SF)
5,940 SF Class B office building on a 0.22-acre lot in Reno’s Experience District. Built in 1978, with major refreshes completed 2024–2026. Excellent location minutes from Reno-Tahoe International Airport, I-580/US-395, downtown Reno, retail, dining, and medical services. High-visibility site along Plumb Lane, a key arterial in this busy corridor.
Currently maintaining **100% occupancy** with a diversified, stable tenant mix: tax preparation, document services, cosmetology, massage therapy, tutoring, counseling and many more. A key lease renewal is approaching, offering excellent flexibility to increase rents, refresh tenant mix, or reposition for higher-value uses—or convert to owner-user occupancy.
**Recent Capital Improvements**
- All HVAC systems replaced in 2025
- New instant (tankless) water heaters in all four restrooms and two suites
- New flooring (carpet and LVP) in 80% of suites
- Fresh paint in 80% of suites over the last two years
- Suites include in-suite sinks ideal for professional services
These upgrades deliver attractive, move-in-ready spaces that support premium rents. Additional value-add potential remains through targeted improvements to common areas, restrooms, exterior façade, and parking lot.
**Property Specs**
- Square Feet: 5,940
- On-site parking: ~20 spaces
- Zoning: Professional Office (PO)
Reno’s strong economy—driven by tech, logistics, tourism, and population growth—positions this fully leased, stabilized property with immediate upside as an outstanding opportunity for investors or owner-users.
Detailed financials, rent roll, and pro forma available. Contact **Hallmark Investments & Management** for more information or to schedule a tour.
Prime opportunity in one of Reno’s most active submarkets!
550 E Plumb Lane, Reno, NV 89502
**Asking Price: $1,555,111** ($262/SF)
5,940 SF Class B office building on a 0.22-acre lot in Reno’s Experience District. Built in 1978, with major refreshes completed 2024–2026. Excellent location minutes from Reno-Tahoe International Airport, I-580/US-395, downtown Reno, retail, dining, and medical services. High-visibility site along Plumb Lane, a key arterial in this busy corridor.
Currently maintaining **100% occupancy** with a diversified, stable tenant mix: tax preparation, document services, cosmetology, massage therapy, tutoring, counseling and many more. A key lease renewal is approaching, offering excellent flexibility to increase rents, refresh tenant mix, or reposition for higher-value uses—or convert to owner-user occupancy.
**Recent Capital Improvements**
- All HVAC systems replaced in 2025
- New instant (tankless) water heaters in all four restrooms and two suites
- New flooring (carpet and LVP) in 80% of suites
- Fresh paint in 80% of suites over the last two years
- Suites include in-suite sinks ideal for professional services
These upgrades deliver attractive, move-in-ready spaces that support premium rents. Additional value-add potential remains through targeted improvements to common areas, restrooms, exterior façade, and parking lot.
**Property Specs**
- Square Feet: 5,940
- On-site parking: ~20 spaces
- Zoning: Professional Office (PO)
Reno’s strong economy—driven by tech, logistics, tourism, and population growth—positions this fully leased, stabilized property with immediate upside as an outstanding opportunity for investors or owner-users.
Detailed financials, rent roll, and pro forma available. Contact **Hallmark Investments & Management** for more information or to schedule a tour.
Prime opportunity in one of Reno’s most active submarkets!
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
5,940 SF
Building Class
C
Year Built/Renovated
1978/2004
Price
$1,555,111
Price Per SF
$261.80
Cap Rate
6.21%
NOI
$96,552
Percent Leased
96%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,980 SF
Slab To Slab
12’
Building FAR
0.62
Lot Size
0.22 AC
Opportunity Zone
Yes
Zoning
PO - Professional Office
Parking
20 Spaces (3.37 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Basement
- Natural Light
- Monument Signage
- Air Conditioning
- Balcony
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 2nd Fl-Ste 302
- 240 SF
- Office
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 302 | 240 SF | Office | - | Now |
2nd Fl-Ste 302
| Size |
| 240 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (74)
Property Taxes
| Parcel Number | 015-183-06 | Improvements Assessment | $84,059 |
| Land Assessment | $77,143 | Total Assessment | $161,202 |
Property Taxes
Parcel Number
015-183-06
Land Assessment
$77,143
Improvements Assessment
$84,059
Total Assessment
$161,202
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Providence Building | 550 E Plumb Ln
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