5345 Kietzke Lane, Suite 100 Reno, NV 89511 775 336 4676 tel naialliance.com For more information Dan Oster, SIOR O: 775 336 4665 [email protected]Chase Houston O: 775 336 4645 [email protected]880 Ryland St. Reno, Nevada 89502 Property Highlights • Medical Office single tenant investment • Fully Leased through 2024 • Excellent long term tenant in place with significant investment in buildout • Modern design and construction built in 2000 • Centrally located near Renown medical campus and proximity to downtown Property Description Fully net-leased single tenant medical office building. Building is leased for the next six years at a minimum to Reno Gastroenterology. Close proximity to downtown and Renown Medical Campus. OFFERING SUMMARY Sale Price $7,000,000 Lot Size 1.36 Acres Building Size 15,285 SF Zoning MUWM DEMOGRAPHICS Stats Population Avg. HH Income 1 Mile 18,130 $34,682 2 Miles 134,380 $42,717 3 Miles 244,494 $49,491 For Sale Medical Office Building $7,000,000
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880 Ryland St. - LoopNet · Year Built: 2016 Building SF: 5,000 SF Price PSF: $300.00 CAP: 6.40% Closed: 03/09/2018 Occupancy: 100% The tenant has 4 years left on a 5 year lease and
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5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Property Highlights• Medical Office single tenant investment
• Fully Leased through 2024
• Excellent long term tenant in place with significant investment in buildout
• Modern design and construction built in 2000
• Centrally located near Renown medical campus and proximity todowntown
Property DescriptionFully net-leased single tenant medical office building. Building is leased forthe next six years at a minimum to Reno Gastroenterology. Close proximityto downtown and Renown Medical Campus.
OFFERING SUMMARY
Sale Price $7,000,000
Lot Size 1.36 Acres
Building Size 15,285 SF
Zoning MUWM
DEMOGRAPHICS
Stats Population Avg. HHIncome
1 Mile 18,130 $34,682
2 Miles 134,380 $42,717
3 Miles 244,494 $49,491
For Sale
Medical Office Building$7,000,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
For Sale
Medical Office Building15,285 SF | $7,000,000
Investment Overview
Price $7,000,000
Approximate Square Footage 15,285
Price per Square Footage $457
CAP Rate 5.72%
Operating Data
Gross Operating Income $459,651Operating Expenses - $59,580
Net Operating Income $400,071Debt Service - $412,667
Total Return (yr 1) $94,750Return on Investment % 6.77%
Financing Data
Loan Amount $5,600,000
LTV 80.00%
Interest Rate 5.500%
Debt Service $412,667
Debt Service Monthly $34,388
Amortization 25
For Sale
Medical Office Building15,285 SF | $7,000,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Income Summary Per SF
Rental Billings $422,474 $27.64
Insurance Billings $6,399 $0.42
Property Tax Billings $30,777 $2.01
Gross Income $459,651 $30.07
Expense Summary Per SF
Property Tax $39,757 $2.60
Insurance $6,399 $0.42
Management Fees $12,922 $0.85
Gen. Repair & Maintenance $500 $0.03
Gross Expenses $59,580 $3.90
Net Operating Income $400,071 $26.17
For Sale
Medical Office Building15,285 SF | $7,000,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Additional Photos
For Sale
Medical Office Building15,285 SF | $7,000,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Gastroenterology Consultants was established 32 YearsAgo. At GI Consultants we are dedicated to the diagnosis,treatment and care of digestive and liver diseases. Ournineteen physicians and three locations make us the largestand most experienced Gastroenterology practice inNorthern Nevada. Our locations include three clinics andthree endoscopy centers. Our endoscopy centers are allAAAHC accredited and we proudly offer the full spectrumof liver and gastroenterological care. Additionally, atGastroenterology Consultants we have our own pathologylab and on-site GI trained pathologist that specializes in thedetection and evaluation of gastroenterology diseases,which offers the benefit of faster and higher quality results.
A gastroenterologist is a physician who is trained in internalmedicine and who specializes in the diagnosis andtreatment of diseases of the digestive system. The digestivesystem includes the esophagus, stomach, small and largeintestine or colon, liver, pancreas and gallbladder.Gastroenterologists also have expertise in DigestiveWellness maintenance, such as advising patients aboutcolon cancer screening and prevention.
The physicians at our practice have highly-specializedtraining in endoscopy procedures of the digestive tract. Acomplete gastrointestinal evaluation may includespecialized studies in addition to a thorough interview andphysical examination. X-rays, labs, and other proceduresmay be ordered and reviewed to assist in evaluating yourdigestive and liver health.
We offer a wide variety of state-of-the-art procedures forthe treatment and diagnosis of gastrointestinal diseases.
Tenant Profile
Tenant Profile
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Subject Property
880 Ryland St. | Reno, NV 89502
$7,000,000Sale Price: 1.36 AcresLot Size:
2000Year Built: 15,285 SFBuilding SF:
$457.97Price PSF: 5.72%CAP:
$400,071NOI:
1
604 W Moana LnReno, NV 89509
$2,680,000Sale Price: 41,382 SFLot Size:
1980Year Built: 13,380 SFBuilding SF:
$200.30Price PSF: 5.25%CAP:
10/12/2017Closed: 100%Occupancy:
1
2
9433 Double Diamond PkyReno, NV 89521
$1,500,000Sale Price: 31,363 SFLot Size:
2016Year Built: 5,000 SFBuilding SF:
$300.00Price PSF: 6.40%CAP:
03/09/2018Closed: 100%Occupancy:
The tenant has 4 years left on a 5 year lease and there are 2 - 3 year extensions with 2 % increases each year. The higher thanarea average price per square foot for this property may be explained by this being a newer, high quality, leased property.
2
3
445 S Virginia StReno, NV 89501
$4,550,000Sale Price: 50,094 SFLot Size:
1942Year Built: 17,836 SFBuilding SF:
$255.10Price PSF: 11/10/2016Closed:
100%Occupancy:
Single tenant 17,836 SF office building with 10 years remaining on an Absolute NNN lease.
3
For Sale
Medical Office Building15,285 SF | $7,000,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
4
333 HolcombReno, NV 89502
$2,500,000Sale Price: 23,958 SFLot Size:
1986Year Built: 14,017 SFBuilding SF:
$178.35Price PSF: 6.82%CAP:
09/06/2017Closed: 100%Occupancy:
The property was purchased as an investment but no cap rate was reported at the time of sale. Per the broker, the building wasfully occupied and tenants are all long-term. No sale condition was mentioned.
4
5
275 Hill StReno, NV 89501
$3,956,119Sale Price: 20,909 SFLot Size:
1957Year Built: 17,916 SFBuilding SF:
$220.81Price PSF: 7.25%CAP:
02/23/2017Closed: 100%Occupancy:
5
6
6005 Plumas StReno, NV 89519
$6,900,000Sale Price: 121,968 SFLot Size:
1999Year Built: 33,507 SFBuilding SF:
$205.93Price PSF: 6.60%CAP:
06/28/2017Closed: 85%Occupancy:
6
For Sale
Medical Office Building15,285 SF | $7,000,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Subject Property Price Bldg. SF Price/SF CAP
880 Ryland St.Reno, NV 89502
$7,000,000 15,285 SF $457.97 5.72%
Sale Comps Price Bldg. SF Price/SF CAP Close
1604 W Moana LnReno, NV89509
$2,680,000 13,380 SF $200.30 5.25% 10/12/2017
29433 Double Diamond PkyReno, NV89521
$1,500,000 5,000 SF $300.00 6.40% 03/09/2018
3445 S Virginia StReno, NV89501
$4,550,000 17,836 SF $255.10 - 11/10/2016
4333 HolcombReno, NV89502
$2,500,000 14,017 SF $178.35 6.82% 09/06/2017
5275 Hill StReno, NV89501
$3,956,119 17,916 SF $220.81 7.25% 02/23/2017
66005 Plumas StReno, NV89519
$6,900,000 33,507 SF $205.93 6.60% 06/28/2017
Totals/Averages Price Bldg. SF Price/SF CAP
$3,681,020 16,943 SF $226.75 6.46%
For Sale
Medical Office Building15,285 SF | $7,000,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Dan Oster, SIORSenior Vice President & Principal | Industrial & Office
Dan's primary responsibility is to listen to a client'srequirement then help them make the best decision possiblebased on the most relevant information available. Afterspending eight years managing corporate informationsystems, Dan entered the commercial real estate field in 2004specializing in the sale and leasing of industrial properties. Danhas participated in the sales and leasing of a wide variety ofIndustrial & Office Properties and Land in Northern Nevada.
Memberships & Affiliations
Dan is a past president of the Northern Nevada Roundtable of
the Council of Supply Chain Management Professionals
(CSCMP) and is an active member of Entrepreneur's
Organization (EO Reno/Tahoe), SIOR, EDAWN, and NNDA.
Clients he has represented include ProLogis, Panattoni
Development, McKenzie Properties, TDC Development
Company, Legacy Supply Chain Solutions, and many local
and regional organizations.
Education
Dan earned both a Bachelor of Science in Management and
his Master of Business Administration from the University of
Nevada, Reno, where he was also elected student body
president while an undergraduate. He is currently an adjunct
professor in the graduate School of Business at the University
of Nevada, teaching an advanced seminar on Supply Chain
Management.
For Sale
Medical Office Building15,285 SF | $7,000,000
5345 Kietzke Lane, Suite 100Reno, NV 89511775 336 4676 telnaial l iance.com
Chase specializes in office and investment transactionsincluding tenant representation, project leasing, investmentsales, and owner/user sales. He provides his clients with “nextgeneration representation” by utilizing the leading tools andresources available to assist clients in making informed realestate decisions. Through a dedicated focus on clients’ goalsand the consistent monitoring of the market, Chase is highlyproficient in analysis and targeted marketing and possessesdynamic negotiation and execution skills.
Prior to joining NAI Alliance in 2016, Chase worked for theCoStar Group, the largest commercial real estate researchand marketing software company in the US. While there, hetrained clients on how to best conduct research and marketcommercial properties. He also worked directly withcommercial banks and investors to help value properties, findoff-market opportunities, and balance portfolio risk.
Memberships & Affiliations
Chase is an active member of: Economic Development
Association of Western Nevada, Young Professionals
Network, Reno Association of Downtown, and The National
Association of Industrial and Office Properties.
Education
Masters in Business Administration, University of Nevada,
Reno
BS in Economics with a minor in Japanese, University of
Nevada, Reno
For Sale
Medical Office Building15,285 SF | $7,000,000
Dan Oster, SIORSenior Vice President & PrincipalIndustrial & Office PropertiesT +1 775.336.4665E [email protected]
NAI Alliance5345 Kietzke Lane, Suite 100Reno, NV 89511naialliance.com