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Property profile & analytics
OFF-MARKET
Estimated value
$4,555,000
Medical Office Space
601 Sierra Rose Dr Reno, NV 89511-2358
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US62-0358167
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,348 SF
Lot
0.3 ac (13,166 SF)
Zoning code
PD
APN
040-941-36
UPID
US62-0358167
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
-
Rebecca Barnett Physician
-
Labcorp Diagnostic Center Drug Testing Service
-
Dialysis Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.39M
Comparable Approach
Comparable
$6.14M
Blend (final)
Blend
$4.56M
Owner & transaction history
601 Sierra Rose LLC · 12 yrs held
601 Sierra Rose LLC
since 2013
6 recorded transactions
Zoning & alternative use
PD · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.5M
+11.4%
Neighborhood: shopping center
$7.4M
+9.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,750,000
6.5%
$4,385,000
7%
$4,070,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,735,000
Current use
RESTAURANT
$7,505,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,370,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,175,000
Change: -8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,055,000
Change: -10% · Conversion: Moderate
OFFICE BUILDING
$5,545,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$4.56M
Range $4.10M – $5.01M · ±10%
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
$248 / 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
$36,702
Tax year 2023
Assessed value
$1,424,759
Assessed 2023
Previous assessed
$1,190,264
+19.7% YoY
Effective rate
2.58%
On assessed value
Assessed land
$322,567
Assessed improvement
$1,102,192
Land market value
$921,620
Improvement market value
$3,149,119
Total market value
$4,070,739
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
18,348 SF
Lot
0.3 ac (13,166 SF)
Zoning code
PD
APN
040-941-36
UPID
US62-0358167
Jurisdiction
WASHOE
Zoning & alternative use
PD · Reno, NV
Zoning PD · permitted uses
PD · 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
MEDICAL BUILDING Current
Est. value
$6.7M
RESTAURANT
Est. value
$7.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.4M
AUTO REPAIR, GARAGE
Est. value
$6.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.1M
OFFICE BUILDING
Est. value
$5.5M
MEDICAL BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
601 Sierra Rose LLC
Entity
Mailing address
2445 FARETTO LN, RENO, NV 89511-7601
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2020
—
601 Sierra Rose LLC
—
Deed
related
$400,000 · Heritage Bk/nv
Aug 30, 2013
$2,700,000
601 Sierra Rose LLC
Branch Banking & Trust Co
Bargain And Sale Deed
$2,025,000 · Heritage Bank Of Nevada
Sep 5, 2012
$2,008,000
North Carolina Banking Corp
Allied 1031 Exchange
Trustees Deed
related
—
—
—
Quail Corners South LLC
—
Deed Of Trust
related
$100,000 · Colonial Bank
—
—
601 Sierra Rose LLC
—
Deed Of Trust
related
$400,000 · Heritage Bk/nv
—
—
Quail Corners South LLC
—
Deed Of Trust
related
$577,400 · Colonial Bank
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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