236 W 6th St, Reno, NV 89503

236 West 6th Street is located in Reno, NV across from the Saint Mary’s Medical Campus. Tenant mix includes private doctor groups, large hospital groups, pharmacy and other medical related tenants. The building is 38,456 square feet of medical space including 735 square feet of finished basement where storage is available for rent by tenants, as well as 736 square feet of unfinished basement. The property offers four floors of prime medical space in one of Reno’s most recognizable medical office buildings. The building is connected to Saint Mary’s Regional Medical Center via an underground tunnel and is serviced by a parking garage that is owned and maintained by Saint Mary’s Regional Medical Center, making it extremely convenient for doctors and staff.


Sale Note
The building is generating an annual gross income of $774,669.47 from leases as well as basement storage and annual expenses are $362,835.95 making the Net Operating Income (NOI) $411,833.41. The sales price is based on a 7.1% cap rate on NOI as of August 1, 2017. The property is a great opportunity for an
investor as the building has 3,949 square feet of vacancy with the ability to upgrade the property and an opportunity to reduce operating expenses all while enjoying an income stream. This is a value add opportunity with a ton of upside.
The building has been and is currently professionally managed by Eugene Burger
Management Company (EBMC) and has been well maintained. The parking agreement for a shared parking garage that is connected to the 236 West 6th Street structure runs through 2034.