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120 Thoma St

9,250 SF 100% Leased Retail Building Reno, NV 89501 £2,151,738 (£233/SF) 5.85% Net Initial Yield

Investment Highlights

  • Fantastic Midtown Location
  • Off Street Parking
  • Newly Renovated Top to Bottom

Executive Summary

Welcome to 120 Thoma Street!
Located in the bustling heart of Midtown Reno, this exceptional retail and residential commercial investment property offers a dynamic blend of business and living spaces. Featuring five thriving retail tenants and four modern residential apartments, this property provides a diverse income stream from multiple sources, all under one roof.
Prime Location: Situated in the vibrant Midtown area, renowned for its energetic atmosphere, trendy shops, and popular eateries. This location ensures high foot traffic and visibility, making it an ideal spot for retail businesses.
Mixed-Use Income Potential: Benefit from the synergy of retail and multifamily units. The combination of commercial and residential spaces provides a steady and diversified revenue stream, reducing investment risk.
Off-Street Parking: Ample off-street parking facilities cater to both tenants and customers, enhancing convenience and accessibility.
Prominent Signage: A large monument sign prominently displays the businesses housed within, drawing attention and enhancing visibility from the busy streets.
Artistic Appeal: The building is adorned with striking murals that not only add to its aesthetic appeal but also contribute to the cultural and artistic vibe of Midtown Reno. These murals serve as an eye-catching feature, attracting visitors and customers alike.
Additional Amenities: The property boasts a range of additional benefits, including well-maintained common areas, modern infrastructure, and a supportive community atmosphere.
120 Thoma is a rare opportunity to invest in a mixed-use space that offers both immediate returns and long-term value appreciation. Whether you're an investor looking to expand your portfolio or a business owner seeking a prime location, this Midtown Reno gem is a perfect fit. Don't miss out on the chance to own a piece of one of the most sought-after neighborhoods in Northern Nevada.

Attachments

120 Thoma St OM

Financial Summary (Actual - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
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 $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
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
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
9,250 SF
Building Class
B
Year Built/Renovated
1960/2023
Price
£2,151,738
Price Per SF
£233
Net Initial Yield
5.85%
NOI
£125,794
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Slab to Slab
11 ft
Building FAR
1.32
Land Acres
0.16 AC
Opportunity Zone
Yes
Zoning
MU-MC - MIXED-USE MIDTOWN COMMERCIAL
Parking
8 Spaces (0.86 Spaces per 1,000 SF Leased)
Frontage
55 ft on S Center St
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Very Bikeable (85)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Chuy's
Order Express, Inc.
CrossFit
Anytime Fitness
Nevada State Bank
U.S. Bank
Marketon
Starbucks
Chase Bank
Save Mart

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
011-234-01
Land Assessment
£40,257
Improvements Assessment
£80,305
Total Assessment
£120,562
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
  • Listing ID: 27827451

  • Date on Market: 24/02/2023

  • Last Updated:

  • Address: 120 Thoma St, Reno, NV 89501

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