CALIFORNIA HILL PORTFOLIO

For Sale

247 California Ave, Reno, NV 89501

This Reno property for sale is located at 247 California Ave. The current listed sale price for CALIFORNIA HILL PORTFOLIO is $4,195,000. CALIFORNIA HILL PORTFOLIO is situated on a lot that is 18,295 square feet in size.

Contacts

broker

Melissa Molyneaux

Colliers

(775) 823-4674

Property Details

  • Property Type Retail
  • Lot Size 18,295 SF
  • Parking Ratio 4.24 / 1,000 SF
  • Year Built 1952
  • Date Updated Apr 10, 2024
Colliers is pleased to present the California Hill Portfolio for sale. The offering includes two building: 247 California Avenue and 475 Hill Street totaling ±13,082 square feet on a single 0.422 acre parcel. 247 California Avenue is home to The Cheese Board, one of Reno’s most prized local restaurants. 475 Hill Street includes a diverse mix of professional, creative, and medical tenants. Current NOI is $173,000 with ample room for upside. Seller financing is available at 6% interest rate for qualified buyer.

Sale Note
Currently 100% occupied with 16 tenants. 475 Hill and 247 California leases are all under one-year terms and The Cheese Board is the only long-term lease expiring 2/28/2027. Opportunity for an owner user to occupy 475 Hill Street and retain income from The Cheese Board grossing approximately $100,000 in the 247 California building. Approximately 30 parking spaces and ample open street parking. Investors have an opportunity to increase income through market rent adjustments as most of the leases are well below market and having the buildings measured to ensure rent is being captured on common areas and to current BOMA standards. Property offers an outstanding redevelopment opportunity with the Nevada Museum of Art major expansion and remodel underway as well as numerous downtown improvement projects. For full offering package and more information, please email [email protected].

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Getting around

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  • 84/100

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Location

  • City Reno, NV
  • Neighborhood Downtown Reno
  • Zip Code 89501
  • Market Reno

Points of Interest

  • Reno

    0.59 miles

  • Sky Tower, South Tram

    0.76 miles

  • Sky Tower, North Tram

    0.79 miles

  • Casino Tower, South Tram

    0.80 miles

  • Casino Tower, North Tram

    0.81 miles

  • Idlewild Park Train Ride

    1.04 miles

  • Citi Gas

    0.54 miles

  • ChargePoint

    0.56 miles

  • ARCO

    0.79 miles

  • Maverick's

    0.80 miles

  • ChargePoint

    0.90 miles

  • Jacksons

    1.12 miles

  • Chevron

    1.16 miles

  • AM PM

    1.18 miles

  • Shell

    1.31 miles

  • Arco

    1.34 miles

  • Marriott Renaissance Valet Parking

    0.35 miles

  • Parking Gallery

    0.38 miles

  • Sixth Street Parking Garage

    0.79 miles

  • Plaza Parking Garage

    0.89 miles

  • Elm Street Parking Garage

    0.92 miles

  • Metered Parking

    1.16 miles

  • Yellow 2

    1.18 miles

  • Silver 12

    1.20 miles

  • Silver 1

    1.20 miles

  • Silver 7

    1.24 miles

  • Centro Bar & Kitchen

    0.03 miles

  • Washoe Public House

    0.13 miles

  • Full Belly Delly

    0.13 miles

  • Old Grainte Street Eatery

    0.16 miles

  • Food Shed Cafe

    0.18 miles

  • Mexcal

    0.19 miles

  • Laughing Planet

    0.23 miles

  • Süp

    0.25 miles

  • Wild Garlic Pizza & Pub

    0.27 miles

  • La Famiglia

    0.27 miles

  • Save Mart

    0.99 miles

  • Save Mart

    0.99 miles

  • Marshalls

    1.14 miles

  • Raley's

    1.25 miles

  • Walmart Supercenter

    1.80 miles

  • Bazaar European Deli and Cafe

    2.30 miles

  • Sak 'N Save (Raley's)

    2.45 miles

  • Food Source (Raley's)

    2.51 miles

  • Ross

    2.74 miles

  • Save Mart

    2.76 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Melissa Molyneaux

Colliers

(775) 823-4674