200 Mill St | Reno, NV 89501
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200 Mill St
Reno, NV 89501
Hospitality Redevelopment Opportunity · Hospitality Property For Sale · 123 Rooms
Investment Highlights
- Contract on table with flag hotel
- 121 units
- Hospitality redevelopment opportunity
Executive Summary
This 121 unit, 55,783-square-foot, six-story building, originally constructed in 1966 and operating as a motel, offers a prime opportunity for transformation into a modern hospitality destination. Situated on a 0.53 acre lot in the heart of Reno, this property is perfectly positioned for redevelopment into a high-end hotel or mixed-use project.
Property Highlights
-Existing Layout: A 1966 building designed for hospitality use, now offering the opportunity to renovate into 121 high-quality units, including:
-71 Studio units
-50 Large Studios
-4 Two-story Penthouse Suites with rooftop deck access and 360-degree views.
Amenities Potential:
-State-of-the-art gym, bike storage room, and expansive common areas.
-Courtyard with fire pits, string lights, and elevators.
-Secured parking for residents and visitors.
Redevelopment Potential
-This property is ideal for a complete hospitality conversion, creating a vibrant downtown destination. Additional use cases could include residential or mixed-use applications. The building is available for immediate occupancy or can be delivered vacant to suit a buyer's needs.
Prime Downtown Location
-Positioned along the Truckee River, with direct access to the Tahoe Pyramid Trail and walking distance to all downtown amenities.
-Adjacent to the Renaissance Hotel and across from the National Automobile Museum.
-Surrounded by retail shops, restaurants, casinos, and cultural attractions.
-Convenient freeway access and proximity to Reno’s thriving commercial and tourism hubs.
Key Metrics
-Land Size: 0.53 acres
-Interior Size: 55,783 square feet
-Unit Mix: 121 thoughtfully designed units with flexibility for customization.
Property Highlights
-Existing Layout: A 1966 building designed for hospitality use, now offering the opportunity to renovate into 121 high-quality units, including:
-71 Studio units
-50 Large Studios
-4 Two-story Penthouse Suites with rooftop deck access and 360-degree views.
Amenities Potential:
-State-of-the-art gym, bike storage room, and expansive common areas.
-Courtyard with fire pits, string lights, and elevators.
-Secured parking for residents and visitors.
Redevelopment Potential
-This property is ideal for a complete hospitality conversion, creating a vibrant downtown destination. Additional use cases could include residential or mixed-use applications. The building is available for immediate occupancy or can be delivered vacant to suit a buyer's needs.
Prime Downtown Location
-Positioned along the Truckee River, with direct access to the Tahoe Pyramid Trail and walking distance to all downtown amenities.
-Adjacent to the Renaissance Hotel and across from the National Automobile Museum.
-Surrounded by retail shops, restaurants, casinos, and cultural attractions.
-Convenient freeway access and proximity to Reno’s thriving commercial and tourism hubs.
Key Metrics
-Land Size: 0.53 acres
-Interior Size: 55,783 square feet
-Unit Mix: 121 thoughtfully designed units with flexibility for customization.
PROPERTY FACTS
| Price Per Room | £96,061 | No. Rooms | 123 |
| Sale Type | Investment | Number of Floors | 6 |
| Property Type | Hospitality | Year Built | 1966 |
| Property Subtype | Hotel | Parking Ratio | 1.02/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 0.53 AC | Opportunity Zone |
Yes
|
| Building Size | 55,783 SF |
| Price Per Room | £96,061 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.53 AC |
| Building Size | 55,783 SF |
| No. Rooms | 123 |
| Number of Floors | 6 |
| Year Built | 1966 |
| Parking Ratio | 1.02/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
Amenities
- High Speed Internet Access
- Public Access Wi-Fi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 123 | £31.51 | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £1,100,723 | |
| Land Assessment | £133,826 | Total Assessment | £1,234,550 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£133,826
Improvements Assessment
£1,100,723
Total Assessment
£1,234,550
zoning
| Zoning Code | MD-RD |
| MD-RD |
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