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Property profile & analytics
OFF-MARKET
Estimated value
$2,135,000
Office buildings
204 Marsh Ave Reno, NV 89509-1652
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US62-0788420
Property summary
AI-generated overview
This exceptional three-story office building, located at 204 Marsh Avenue in Reno, Nevada's vibrant Downtown submarket, offers 8,639 square feet of versatile space ideal for multiple tenants. Built in 1981 and extensively renovated in 2023, the property boasts a fresh, modern aesthetic. Exterior improvements include all new windows, updated landscaping, a new north-side parking lot, repaved south parking lot, and a fresh coat of exterior paint. Interior renovations feature luxurious vinyl plank flooring and contemporary finishes throughout. The building includes an elevator for convenient access to all three floors. Situated on a 13,983 square foot lot, the property is zoned MU-RES and has the APN 011-222-16. Its prime location at the corner of Plumas and Marsh Streets places it within walking distance of numerous popular Reno businesses, including The Cheese Board, Full Belly Deli, Old World Coffee Lab, Great Full Gardens, and SUP, offering employees and clients convenient access to a variety of amenities. This is a unique opportunity to secure a beautifully renovated, well-located office space in the heart of Reno.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Construction
WOOD
Total area
8,639 SF
Lot
0.32 ac (13,983 SF)
Zoning code
MURES
APN
011-222-16
UPID
US62-0788420
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
jan hubbard law Law Firm
-
A Disability Associates Social Service Agency Charitable Organization
-
J&K Harbor Towing Company Auto Repair Shop
-
Dennis Cameron Law Law Firm
-
Evans Casey Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.23M
CAP Approach
CAP
$2.51M
Comparable Approach
Comparable
$1.80M
Blend (final)
Blend
$2.14M
Owner & transaction history
Fat Cat Holdings LLC · 3 yrs held
Fat Cat Holdings LLC
since 2023
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
MURES · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.5M
+44.1%
Neighborhood: shopping center
$3.5M
+41.5%
Medical building
$3.0M
+23.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Reno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reno submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,950,000
ML approach
$2,225,000
CAP Approach
CAP Return
Estimation
6%
$2,715,000
6.5%
$2,505,000
7%
$2,325,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,450,000
Current use
RESTAURANT
$3,535,000
Change: +44% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,470,000
Change: +42% · Conversion: Difficult
MEDICAL BUILDING
$3,015,000
Change: +23% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,905,000
Change: +19% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,850,000
Change: +16% · Conversion: Easy
RETAIL STORES
$2,220,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$2.14M
Range $1.92M – $2.35M · ±10% · vs last sale $2.16M (Apr 19 2023)
Last sale anchor
$2.16M
Apr 19 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$247 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$11,840
Tax year 2023
Assessed value
$355,694
Assessed 2023
Previous assessed
$299,395
+18.8% YoY
Effective rate
3.33%
On assessed value
Assessed land
$109,260
Assessed improvement
$246,434
Land market value
$312,170
Improvement market value
$704,096
Total market value
$1,016,266
Applied tax rate
1,000.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1981
Construction
WOOD
Heating
YES
Cooling
YES
Stories
3
Units
1
Total area
8,639 SF
Lot
0.32 ac (13,983 SF)
Zoning code
MURES
APN
011-222-16
UPID
US62-0788420
Jurisdiction
WASHOE
Zoning & alternative use
MURES · Reno, NV
Zoning MURES · permitted uses
MURES · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.5M
RESTAURANT
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
RETAIL STORES
Est. value
$2.2M
OFFICE BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Units
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Fat Cat Holdings LLC
Entity
Mailing address
PO BOX 1059, VIRGINIA CITY, NV 89440-1059
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2023
$2,159,750
Fat Cat Holdings LLC
Sgre Orange LLC
Bargain And Sale Deed
$1,079,875 · Zb NA
Apr 19, 2023
—
Fat Cat Holdings LLC
—
Deed
related
$886,000 · Nevada State Development Corporation
Jul 16, 2021
$1,750,000
Sgre Orange LLC
Lelia Ann Cameron
Bargain And Sale Deed
$1,200,000 · Velocity Commercial Capital LLC
Sep 22, 2004
—
Karen A Faust
Faust,craig E
Quit Claim Deed
related
—
Sep 22, 2004
$1,255,000
1999 Highlander Trust
Menicucci Bruno P Trust
Grant Deed
$1,000,000 · Nevada State Bank
Sep 22, 2004
$771,000
Menicucci Bruno P Trust
Menicucci Of Menicucci
Grant Deed
related
—
Apr 28, 1989
$399,410
Karen A Menicucci
Unknown
Grant Deed
—
—
—
Menicucci/menicucci
—
Deed Of Trust
related
$500,000 · Us Bank Of Nevada
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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