MOANA OFFICE PARK
745 W Moana Ln, Reno, NV 89502
- 60,011 Square Feet
- For Sale
745 W. Moana Lane is a three-story, 60,011 square foot building with three floors of multi-tenant office and medical space and covered parking underground. The building is well located in the Central/Airport Submarket of Reno, NV. The building’s location is off Moana Lane, a main thoroughfare. It is in a convenient location with easy access to I-580 and provides easy access to executive housing and downtown. There is surface level parking and a covered garage under the building. There is also ample street parking on Isbell Road just North of the building.The property was built in 1998 and is situated on a 1.64 acre lot. It is zoned General Office (GO) and allows for numerous office and professional uses.
This investment is ideal for an investor looking for a value-add with opportunity for upgrades and increases to the net operating income. Areas for improvement in the NOI include leasing of vacant suites, expanding tenants, ability to measure per BOMA standards, and a potential decrease in operating expenses especially with HVAC due to a recently installed energy management system. The building could be re-measured using BOMA standards to capture rentable square footage. There are currently 10 suites with 3 being vacant making the property 80.9% occupied. The tenant mix includes professional and medical firms and the lease expirations range from 7/31/17-9/30/22.
Lot Size: 73,616 Square Feet
Building Size: 60,011 Square Feet
Area Available: 60,011 Square Feet