for sale office building › d2 › ug6qxtldodwgz2...5345 kietzke lane, suite 100 reno, nv 89511 775...
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5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Property OverviewMulti-tenant office building for sale in downtown Reno. 100Washington is a newly renovated two story building providingapproximately 17,590 SF, 100% lease to quality tenants. Theproperty was constructed in 1965 and completely renovated in2015 and 2017, including all new interiors with high-end finishesand new building systems. Tenant spaces include glass-walledmeeting rooms and offices, kitchens with stainless steelappliances, updated restrooms on each floor and updatedoutdoor stairs.
The recent upgrades ensure little near-term capital contributionswill be needed and greatly minimize future re-leasing costs. Thebuilding is 100% leased to a mixture of long term and short termtenants, providing a mix of stable secure cash flow and marketfuture upside as leases rollover.
Location OverviewLocated West of downtown Reno, close proximity to TruckeeRiver, downtown Reno, food, and shopping.
SALE PRICE: $3,500,000
CAP RATE: 7.02%
NOI: $245,732
LOT SIZE: 0.482 Acres
BUILDING SIZE: 18,037 SF
BUILDING CLASS: B
YEAR BUILT: 1965
RENOVATED: 2017
ZONING: MUDR
MARKET: Reno/Sparks
SUB MARKET: Downtown
For Sale
Office Building18,037 SF | $3,500,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
For Sale
Office Building18,037 SF | $3,500,000
Investment Overview
Price $3,500,000
Approximate Square Footage 18,037
Price per Square Footage $194
CAP Rate 7.02%
Operating Data
Gross Operating Income $319,860Operating Expenses - $74,128
Net Operating Income $245,732Debt Service - $178,914
Pre-Tax Cash Flow $66,818Cash-on-Cash Return % (yr 1) 8.35%
Principal Reduction (yr 1) + $38,071
Total Return (yr 1) $104,889Return on Investment % 13.11%
Financing Data
Loan Amount $2,700,000
LTV 77.14%
Interest Rate 5.250%
Debt Service $178,914
Debt Service Monthly $14,909
Amortization 30
For Sale
Office Building18,037 SF | $3,500,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Dan Oster, SIORSenior Vice President & Principal | Industrial & Office
Properties775.336.4665 tel775.240.7548 cell775.336.4605 [email protected]
Professional Background
Dan's primary responsibility is to listen to a client'srequirement then help them make the best decision possiblebased on the most relevant information available. Afterspending eight years managing corporate informationsystems, Dan entered the commercial real estate field in 2004specializing in the sale and leasing of industrial properties. Danhas participated in the sales and leasing of a wide variety ofIndustrial & Office Properties and Land in Northern Nevada.
Memberships & Affiliations
Dan is a past president of the Northern Nevada Roundtable of
the Council of Supply Chain Management Professionals
(CSCMP) and is an active member of Entrepreneur's
Organization (EO Reno/Tahoe), SIOR, EDAWN, and NNDA.
Clients he has represented include ProLogis, Panattoni
Development, McKenzie Properties, TDC Development
Company, Legacy Supply Chain Solutions, and many local
and regional organizations.
Education
Dan earned both a Bachelor of Science in Management and
his Master of Business Administration from the University of
Nevada, Reno, where he was also elected student body
president while an undergraduate. He is currently an adjunct
professor in the graduate School of Business at the University
of Nevada, teaching an advanced seminar on Supply Chain
Management.
For Sale
Office Building18,037 SF | $3,500,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Chase HoustonSenior Associate775.336.4645 tel775.848.6007 [email protected]
Professional Background
Chase specializes in office and investment transactionsincluding tenant representation, project leasing, investmentsales, and owner/user sales. He provides his clients with “nextgeneration representation” by utilizing the leading tools andresources available to assist clients in making informed realestate decisions. Through a dedicated focus on clients’ goalsand the consistent monitoring of the market, Chase is highlyproficient in analysis and targeted marketing and possessesdynamic negotiation and execution skills.
Prior to joining NAI Alliance in 2016, Chase worked for theCoStar Group, the largest commercial real estate researchand marketing software company in the US. While there, hetrained clients on how to best conduct research and marketcommercial properties. He also worked directly withcommercial banks and investors to help value properties, findoff-market opportunities, and balance portfolio risk.
Memberships & Affiliations
Chase is an active member of: Economic Development
Association of Western Nevada, Young Professionals
Network, Reno Association of Downtown, and The National
Association of Industrial and Office Properties.
Education
Masters in Business Administration, University of Nevada,
Reno
BS in Economics with a minor in Japanese, University of
Nevada, Reno
For Sale
Office Building18,037 SF | $3,500,000