The Commons — Sale in Reno, NV

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Reno, NV 89511
  • Size: 148,275 SF

Photos

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Description

Newmark is pleased to present the opportunity to acquire The Commons (“Property”), a ±148,275 SF, 99.3% leased community center in Reno, Nevada. Located at 6625–6795 South Virginia Street in Reno, Nevada, on the main north–south retail corridor connecting Midtown Reno to the region’s most productive big-box trade area. Built in 2005 on ±12.36 acres across two parcels, the center benefits from freeway-visible signage along Interstate 580 (±108,000+ VPD) and direct frontage on South Virginia Street (±23,900 VPD), placing it within the same corridor as Whole Foods, Walmart, Kohl’s, Target, Home Depot, WinCo, and the Super Regional Meadowood Mall. The Property is 99.3% leased across 23 tenants spanning 24 suites, anchored by Total Wine & More, PetSmart, DSW, Guitar Center, and 5.11 Tactical, and supported by a diverse mix of national and local services, medical, and food users including Mattress Firm, David’s Bridal, AAA, Massage Envy, Eyemart Express, Great Clips, and Sushi Minato. Approximately 82% of net rentable area is leased to national and regional credit tenants, and the weighted average tenure of the current tenant roster exceeds 15 years, reflecting a durable, well-established retail merchandising mix. The Commons carries an existing, assumable loan with a current principal balance of approximately $19.1 million, fixed at 4.555% through maturity in July 2028 on a 30-year amortization schedule — an attractive, below-market loan for a qualified buyer to assume or put new market rate financing (loan assumption NOT mandatory). Reno has earned significant recent national recognition. LinkedIn’s 2026 Cities on the Rise report ranks the Reno metro the 3rd fastest-rising U.S. job market in the country — driven by growth in data centers and advanced manufacturing, including a planned $1 billion lithium-sulfur battery factory. U.S. News & World Report ranks Reno #33 of 125 major U.S. metro areas in its Best Places to Live rankings, and Niche ranks Reno #13 among the Bes

Market Context

This retail in Reno, NV is listed for sale across 148,275 SF. Compare it against other retail listings for sale in Reno, NV — view the full market.

As of Q2 2026, the Reno retail market showed a 3.9% vacancy rate, and average asking rents near $18.84/SF/yr. Source: Kidder Mathews Q2 2026 market report.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

Is the Reno retail market tightening or softening?
Vacancy is around 3.9% (Q2 2026).

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