Reno Retail Market Report

The following reflects Reno retail market conditions as of Q3 2026.

The Reno retail market in Q3 2026 experienced year-over-year decreases in vacancy and unemployment, an increase in rental rates, and a decrease in construction deliveries. Explore our full Reno retail market report for deeper insights into leasing activity, sales trends, and development.

Frequently Asked Questions

What is the retail vacancy rate in Reno as of Q3 2026?

The Reno retail vacancy rate was 3.8% in Q3 2026, according to Kidder Mathews research. That is unchanged from 3.8% in Q2 2026 and down from 4.1% in Q3 2025, a year-over-year decrease of 30 basis points. (Data source: CoStar)

What is the average asking rent for retail space in Reno in Q3 2026?

The average asking rent for Reno retail space was $1.63 per square foot per month in Q3 2026, according to Kidder Mathews research. This is up from $1.58 in Q2 2026 and $1.50 in Q3 2025, an 8.90% increase year over year. (Data source: CoStar)

What was net absorption for Reno retail in Q3 2026?

Reno retail net absorption was -929 square feet in Q3 2026, according to Kidder Mathews research. Net absorption measures the change in occupied space, so a negative figure means slightly more space was vacated than leased during the quarter. Year-to-date 2026 net absorption was 18,105 square feet, compared with -146,703 square feet in 2025 year-to-date. (Data source: CoStar)

How much retail space is under construction in Reno in Q3 2026?

Reno had 59,473 square feet of retail space under construction in Q3 2026, according to Kidder Mathews research. That is down from 61,938 square feet in Q2 2026 and 72,900 square feet in Q3 2025, an 18.42% decrease year over year. Significant projects include 2027 S Virginia St in Park Lane (7,000 square feet, 4Q 2026 delivery), Shayden Summit in South Reno (6,091 square feet, 4Q 2026) and Pioneer Meadows West in Spanish Springs (5,000 square feet, 1Q 2027). (Data source: CoStar)

How much new retail space was delivered in Reno in Q3 2026?

Reno retail construction deliveries totaled 2,465 square feet in Q3 2026, according to Kidder Mathews research. Year-to-date 2026 deliveries reached 9,377 square feet, compared with 51,697 square feet in 2025 year-to-date, an 81.86% decrease year over year. (Data source: CoStar)

What was the largest retail sale in Reno in Q3 2026?

The largest Reno retail sale in Q3 2026 was Legends at Sparks Marina in Northeast Sparks, which sold for $103,000,500, or $244.38 per square foot, according to Kidder Mathews research. The 421,476-square-foot property was purchased by Alturas Capital Partners from RED Development, LLC. (Data source: CoStar)

What other significant retail properties sold in Reno in Q3 2026?

Two other significant Reno retail sales closed in Q3 2026, according to Kidder Mathews research. 210 & 224 Silver Lake Rd in North Valleys (29,228 square feet) sold for $12,000,000, or $409.72 per square foot, with Sebastiano Cois buying from Dennis Banks Construction. 3645 S Virginia St – Outback in Park Lane (6,090 square feet) sold for $3,750,000, or $615.76 per square foot, with Stephen Seskin buying from Orion Real Estate Group. (Data source: CoStar)

What are average retail sales prices and cap rates in Reno in Q3 2026?

The average Reno retail sales price was $261 per square foot in Q3 2026, and the average cap rate was 6.3%, according to Kidder Mathews research. The average sales price is up from $185 in Q2 2026 and $193 in Q3 2025, a 35.34% increase year over year. The average cap rate compares with 6.1% in Q2 2026 and 7.3% in Q3 2025, a decrease of 100 basis points year over year. (Data source: CoStar)

What were the largest retail leases in Reno in Q3 2026?

The largest Reno retail lease in Q3 2026 was Kids Empire at Meadowood Mall in the Meadowood submarket, covering 14,590 square feet, according to Kidder Mathews research. The lease was signed in August 2026. Other significant leases were Nevada Restaurant Group at Quail Creek in Meadowood (5,263 square feet, July 2026) and Collision Brothers at The Reno Auto Center in Park Lane (4,443 square feet, July 2026). (Data source: CoStar)

What is the outlook for the Reno retail market after Q3 2026?

Q3 2026 Reno retail indicators show vacancy of 3.8%, asking rents of $1.63 per square foot per month (up 8.90% year over year) and 59,473 square feet under construction (down 18.42% year over year), according to Kidder Mathews research. Three significant projects are scheduled for delivery between 4Q 2026 and 1Q 2027: 2027 S Virginia St, Shayden Summit and Pioneer Meadows West. (Data source: CoStar)

Last updated: Q3 2026. Data source: CoStar. Compiled by the Kidder Mathews Research Group.

Q3 2026 Reno Retail Market: Key Data Points

Explore our full Reno retail market review for deeper insights into leasing trends, sale activity, and submarket performance.

• Vacancy Rate: Reno retail vacancy held at 3.8% in Q3 2026, unchanged from Q2 2026 and down 30 basis points from 4.1% in Q3 2025.
• Average Asking Rent: Asking rents averaged $1.63 per square foot per month, up 8.90% from $1.50 a year earlier.
• Net Absorption: Net absorption was -929 square feet in Q3 2026, while 2026 year-to-date net absorption stands at 18,105 square feet versus -146,703 square feet in 2025 year-to-date.
• Construction Pipeline: 59,473 square feet was under construction, down 18.42% year over year. Deliveries totaled 2,465 square feet in the quarter and 9,377 square feet year-to-date.
• Sales Pricing and Cap Rates: The average sales price rose to $261 per square foot, up 35.34% year over year, while the average cap rate was 6.3%, down 100 basis points from 7.3% in Q3 2025.
• Largest Sale: Legends at Sparks Marina (421,476 square feet) in Northeast Sparks sold for $103,000,500, or $244.38 per square foot.
• Largest Lease: Kids Empire leased 14,590 square feet at Meadowood Mall in August 2026.

Market Breakdown 3Q 2026

Year-to-Date Market Breakdown 3Q 2026

Significant Sale Transactions 3Q 2026

Significant Lease Transactions 3Q 2026

Significant Under Construction