CALIFORNIA HILL PORTFOLIO

Colliers is pleased to present the California Hill Portfolio for sale. The offering includes two building: 247 California Avenue and 475 Hill Street totaling ±13,082 square feet on a single 0.422 acre parcel. 247 California Avenue is home to The Cheese Board, one of Reno’s most prized local restaurants. 475 Hill Street includes a diverse mix of professional, creative, and medical tenants. Current NOI is $173,000 with ample room for upside. Seller can offer financing to qualified buyers at competitive terms with an interest rate in the mid 5 percent range with 30-35% down subject to sale terms and credit. Final financing terms to be mutually agreed upon by buyer and seller.

Sale Note
Seller can offer financing to qualified buyers at competitive terms with an interest rate in the mid 5% range with 30-35% down, subject to sale terms and credit. Final financing terms to be mutually agreed upon by buyer and seller. Low operating costs. Nearby development and new construction. New roof installed in 2024, includes a 3 year warranty. Currently 100% occupied with 16 tenants and an annual NOI of approximately $173,076.27. 475 Hill and 247 California leases are all under one-year terms and The Cheese Board is the only long-term lease expiring 2/28/2027. Opportunity for an owner user to occupy 475 Hill Street but to retain income from The Cheese Board grossing approximately $100,000 in the 247 California building. Approximately 30 parking spaces and ample open street parking. Investors have an opportunity to increase income through market rent adjustments as most of the leases are well below market and having the buildings measured to ensure rent is being captured on common a