California Hill Portfolio
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California Hill Portfolio
2 Properties Offered at $5,946,287 CAD in Reno, NV
Investment Highlights
- Rare Downtown Reno Purchase Opportunity with Income Producing Properties
- 7,162 SF Office/Retail Building & 5,920 SF Office Building
- Historical Building with Prized Local Key Tenant
- Tenant mix is mostly on short-term leases under 1 year, with the exception of The Cheese Board
Executive Summary
PROPERTY DESCRIPTION
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 $182,870 with ample room for upside. Seller financing is available.
SALE NOTES
247 California Ave is a 7,162 square foot office and retail building with five tenants. 475 Hill Street is a 5,920 square foot office building with twelve tenants. Current in-place income is $182,870 but short lease terms and below market rents allow for the next owner to adapt a leasing strategy to maximize revenue. Short term leases allow for 475 Hill Street to be occupied by an owner-user and retain 247 California (The Cheese Board building) as an investment. Currently 100 percent leased.
For full offering package and more information, please email
melissa.molyneaux@colliers.com.
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 $182,870 with ample room for upside. Seller financing is available.
SALE NOTES
247 California Ave is a 7,162 square foot office and retail building with five tenants. 475 Hill Street is a 5,920 square foot office building with twelve tenants. Current in-place income is $182,870 but short lease terms and below market rents allow for the next owner to adapt a leasing strategy to maximize revenue. Short term leases allow for 475 Hill Street to be occupied by an owner-user and retain 247 California (The Cheese Board building) as an investment. Currently 100 percent leased.
For full offering package and more information, please email
melissa.molyneaux@colliers.com.
Property Facts
| Price | $5,946,287 CAD | Number of Properties | 2 |
| Price / SF | $454.54 CAD / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 13,082 SF |
| Status | Active | Total Land Area | 0.74 AC |
| Price | $5,946,287 CAD |
| Price / SF | $454.54 CAD / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 13,082 SF |
| Total Land Area | 0.74 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 475 Hill St, Reno, NV 89501 | Office | 5,920 SF | 1929 | - |
| 247 California Ave, Reno, NV 89509 | Retail | 7,162 SF | 1952 | - |
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