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235 Lake St 21,000 SF 97% Leased Retail Building Reno, NV 89501 $6,560,824 CAD ($312.42 CAD/SF) 6.48% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% Newly Renovated
- Iconic Downtown Brick Building
- Excellent Location - Steps from the Aces Ballpark
EXECUTIVE SUMMARY
Perfectly positioned in the pulsating heart of Downtown Reno, this iconic retail investment has recently been revived through an extensive remodeling, subtly blending its storied past with a modern touch.
The ground floor is graced by a beloved Basque restaurant, a culinary institution that's been serving mouth-watering delights in the building for over two decades. Sharing the same floor, Rockwood Construction makes its home, a key player known for their ambitious projects, including the Ballpark Apartments right across the street.
Venture upstairs to discover the true versatility of the Santa Fe Building. The second level boasts 20 suites, each equipped with a sink, housing an eclectic mix of enterprises — from hairstyling to massage therapy, tattoo artistry to traditional office setups.
For the convenience and comfort of all tenants, the second floor also provides a communal kitchen, shower, laundry room, ultra-fast WiFi, and a state-of-the-art security system. With 4K Ubiquiti cameras vigilantly placed and a coded door access, peace of mind is guaranteed.
Immerse yourself in the enchanting tale of this historic building while reaping the rewards of a high-quality investment bolstered by remarkable tenants. Poised on the same block as the highly anticipated Harrah's conversion project, and in proximity to 369 units of new apartments across the street, Santa Fe is in the hub of the city's dynamic growth.
Welcome to 235 Lake Street, where history, culture, and business bloom together in a vibrant symphony. Your ideal investment awaits in the Santa Fe Building.
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Welcome to 235 Lake St, now leasing Salon Suites direct Landlord to Operator. The first floor is a Pintxos sports bar serving elevated Basque Cousine opening around August, the second floor is the 20 Salon Suites. Pictures coming soon, touring anytime, see layout plan in Pictures. We welcome any Nail, Hair, Massage, Barber, or other office users looking for a prime Downtown location in a newly renovated building. Currently, Tattoo is not allowed in this Zoning MD-RD in Downtown, the city removed this usage from Downtown last year with the zoning change. If you are a Tattoo Artist, contact us and we will try our best to get your license Zoning approved from the City. The construction on the 2nd floor will be finished by end of June latest. The space provides free laundry room with 2 stackable brand new commercial washer/driers, free high speed internet, shower, waiting area for customers, and more. Every unit has dedicated thermostat/HVAC system so every tenant can have the temperature they want in their own rooms. Every unit has a Sink in it. Ample Free Public parking available across the street at 290 Lake St. 16 Medium Sized Rooms ~200sqft - $1,100/month each 4 Larger rooms with in-suite bathrooms ~350- $1,300/month each Across the street from our building is a 369 apartment building under construction, no office/retail. Will be complete in beginning of 2024. See link for details: https://www.pacificdevelopment.com/project-ballpark.html Same developer is planning a 393 unit apartment building on South side of their project. See link for details: https://www.pacificdevelopment.com/project-riverfront.html
- 2nd Floor
- 180 SF
- Office
- -
- Now
| Space | Size | Space Use | Position | Available |
| 2nd Floor | 180-360 SF | Retail | - | Now |
| 2nd Floor | 180 SF | Office | - | Now |
2nd Floor
| Size |
| 180-360 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 180 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size | 180-360 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Welcome to 235 Lake St, now leasing Salon Suites direct Landlord to Operator. The first floor is a Pintxos sports bar serving elevated Basque Cousine opening around August, the second floor is the 20 Salon Suites. Pictures coming soon, touring anytime, see layout plan in Pictures. We welcome any Nail, Hair, Massage, Barber, or other office users looking for a prime Downtown location in a newly renovated building. Currently, Tattoo is not allowed in this Zoning MD-RD in Downtown, the city removed this usage from Downtown last year with the zoning change. If you are a Tattoo Artist, contact us and we will try our best to get your license Zoning approved from the City. The construction on the 2nd floor will be finished by end of June latest. The space provides free laundry room with 2 stackable brand new commercial washer/driers, free high speed internet, shower, waiting area for customers, and more. Every unit has dedicated thermostat/HVAC system so every tenant can have the temperature they want in their own rooms. Every unit has a Sink in it. Ample Free Public parking available across the street at 290 Lake St. 16 Medium Sized Rooms ~200sqft - $1,100/month each 4 Larger rooms with in-suite bathrooms ~350- $1,300/month each Across the street from our building is a 369 apartment building under construction, no office/retail. Will be complete in beginning of 2024. See link for details: https://www.pacificdevelopment.com/project-ballpark.html Same developer is planning a 393 unit apartment building on South side of their project. See link for details: https://www.pacificdevelopment.com/project-riverfront.html
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 011-071-06 | Total Assessment | $442,464 CAD (2025) |
| Land Assessment | $84,695 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $357,769 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
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235 Lake St
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