Hospitality Redevelopment Opportunity | 430 Lake St
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Hospitality Redevelopment Opportunity 430 Lake St
63 Room Hotel Reno, NV 89501 $7,633,220 CAD ($121,162 CAD/Room)
Investment Highlights
- Ideal for hospitality or mixed-use redevelopment
- 63 rooms with steady income and upgrade potential.
- Opportunities to improve interiors and curb appeal.
Executive Summary
This 26,510-square-foot, 63-unit hospitality property, built in 1966, presents a remarkable opportunity for investors or developers to transform a strategically located asset in Reno’s downtown district. With flexible zoning and proximity to major cultural and entertainment hubs, this property is well-positioned for redevelopment or operational upgrades.
Property Highlights
-Building Size: 26,510 square feet
-Units: 63 hospitality units with redevelopment potential
-Year Built: 1966
-Building Class: C
-Property Type: Hospitality
Investment Opportunity
-Value-Add Potential: Modernize interiors and exteriors to elevate property value and attract higher-income tenants or guests.
-Flexible Zoning: MD-ED zoning supports a wide range of redevelopment opportunities, including hospitality, mixed-use, or government-focused projects.
-Revenue Upside: Enhance operational efficiency and amenities to improve cash flow and market appeal.
Prime Location
-Located in Reno’s downtown core, close to the University of Nevada, Reno (UNR), and major attractions.
-Walking distance to dining, shopping, and cultural hubs.
-Easy access to public transportation and highways, ensuring steady demand.
Property Highlights
-Building Size: 26,510 square feet
-Units: 63 hospitality units with redevelopment potential
-Year Built: 1966
-Building Class: C
-Property Type: Hospitality
Investment Opportunity
-Value-Add Potential: Modernize interiors and exteriors to elevate property value and attract higher-income tenants or guests.
-Flexible Zoning: MD-ED zoning supports a wide range of redevelopment opportunities, including hospitality, mixed-use, or government-focused projects.
-Revenue Upside: Enhance operational efficiency and amenities to improve cash flow and market appeal.
Prime Location
-Located in Reno’s downtown core, close to the University of Nevada, Reno (UNR), and major attractions.
-Walking distance to dining, shopping, and cultural hubs.
-Easy access to public transportation and highways, ensuring steady demand.
Property Facts
| Price | $7,633,220 CAD | No. Rooms | 63 |
| Price Per Room | $121,162 CAD | No. Stories | 4 |
| Sale Type | Investment | Year Built | 1966 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 1.43/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 0.48 AC | Opportunity Zone |
Yes
|
| Building Size | 26,510 SF |
| Price | $7,633,220 CAD |
| Price Per Room | $121,162 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 26,510 SF |
| No. Rooms | 63 |
| No. Stories | 4 |
| Year Built | 1966 |
| Tenancy | Single |
| Parking Ratio | 1.43/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 63 | $45.80 CAD | - |
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Walk Score ®
Walker's Paradise (95)
Bike Score ®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 007-315-09 | Improvements Assessment | $481,284 CAD |
| Land Assessment | $223,124 CAD | Total Assessment | $704,407 CAD |
PROPERTY TAXES
Parcel Number
007-315-09
Land Assessment
$223,124 CAD
Improvements Assessment
$481,284 CAD
Total Assessment
$704,407 CAD
zoning
| Zoning Code | MD-ED |
| MD-ED |
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Hospitality Redevelopment Opportunity | 430 Lake St
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