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70 Linden St 14,000 SF 100% Leased Office Building Reno, NV 89502 $5,400,000 ($385.71/SF) 7% Cap Rate
Executive Summary
70 Linden Street, a fully renovated 14,000 SF two-story building, 100% leased to Sai Mental Health (saimentalhealth.org) on a brand-new absolute NNN lease signed July 2026. Zero landlord responsibilities: tenant pays taxes, insurance, utilities and all maintenance, including roof and structure. 5-year initial term with two 5-year options and 3% annual escalations delivers $378,000 Year-1 NOI — a 7.00% cap at $5,400,000 ($386/SF), rising to ~7.9% by Year 5. The building is being converted to a licensed 24/7 residential behavioral health facility (up to 30 beds). Construction is underway, with rent commencement at Certificate of Occupancy, est. Q4 2026. Renovated to the studs in 2023 with all-new electrical, plumbing and HVAC, 800-amp power, elevator, and 44 parking stalls on 0.59 AC — in a federal Opportunity Zone directly across from the Peppermill Resort, adjacent to the Reno Experience District.
Financial Summary (Pro Forma - 2027) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2027) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
14,000 SF
Building Class
B
Year Built/Renovated
1960/2023
Price
$5,400,000
Price Per SF
$385.71
Cap Rate
7%
NOI
$378,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,000 SF
Building FAR
0.54
Lot Size
0.59 AC
Opportunity Zone
Yes
Zoning
MU - Mixed-Used
Parking
44 Spaces (3.14 Spaces per 1,000 SF Leased)
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $502,095 (2026) | |
| Land Assessment | $121,905 (2026) | Total Assessment | $624,001 (2026) |
Property Taxes
Parcel Numbers
Land Assessment
$121,905 (2026)
Improvements Assessment
$502,095 (2026)
Total Assessment
$624,001 (2026)
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