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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Retail space
701 2nd St, Reno, NV 89502-1018
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-1230960
Property summary
AI-generated overview
This exceptional investment opportunity presents a fully occupied, stabilized retail property located at 701 E 2nd St, Reno, NV 89502. The property consists of two buildings totaling 2,532 square feet on a 0.201-acre lot (APN 01207224), zoned MU. Both buildings underwent renovations in 2023. The north building houses World of Smoke, a successful, multi-location retail business, while the south building is occupied by Urban Barber Union, a thriving local barbershop. The property boasts a strong net operating income (NOI) of $63,262, resulting in an attractive 6.02% cap rate. The asking price is $1,050,000. This turnkey investment offers a compelling combination of high occupancy (100%), recent renovations, and established, high-cash-flow tenants situated on a high-traffic corner of S Wells and E 2nd St. The property's ease of management makes it an ideal long-term investment. Interested parties should contact the seller directly to schedule a walkthrough
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,890 SF
Lot
0.2 ac (8,773 SF)
Zoning code
MU
APN
012-072-24
UPID
US62-1230960
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
-
Capo Cutz Barber Shop
-
Camiso Cutzz Barber Shop
-
Urban Barber Union & Salon Barber Shop
-
DonThe Barber Barber Shop
-
Shorty t Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$672k
Blend (final)
Blend
$620k
Owner & transaction history
701 E 2nd St LLC · 4 yrs held
701 E 2nd St LLC
since 2022
Last sale
$580,000
7 recorded transactions
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$760,000
+47.4%
Medical building
$660,000
+28.0%
Auto repair, garage
$605,000
+17.3%
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
$660,000
ML approach
$615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$515,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$760,000
Change: +47% · Conversion: Moderate
MEDICAL BUILDING
$660,000
Change: +28% · Conversion: Difficult
AUTO REPAIR, GARAGE
$605,000
Change: +17% · Conversion: Difficult
OFFICE BUILDING
$425,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$620k
Range $558k – $682k · ±10% · vs last sale $580k (Mar 1 2022)
Last sale anchor
$580k
Mar 1 2022
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
$328 / 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
$2,853
Tax year 2023
Assessed value
$96,302
Assessed 2023
Previous assessed
$77,380
+24.5% YoY
Effective rate
2.96%
On assessed value
Assessed land
$67,552
Assessed improvement
$28,750
Land market value
$193,006
Improvement market value
$82,142
Total market value
$275,148
Applied tax rate
1,002.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
1,890 SF
Lot
0.2 ac (8,773 SF)
Zoning code
MU
APN
012-072-24
UPID
US62-1230960
Jurisdiction
WASHOE
Zoning & alternative use
MU · Reno, NV
Zoning MU · permitted uses
MU · 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
RETAIL STORES Current
Est. value
$515,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$760,000
MEDICAL BUILDING
Est. value
$660,000
AUTO REPAIR, GARAGE
Est. value
$605,000
OFFICE BUILDING
Est. value
$425,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
701 E 2nd St LLC
Entity
Mailing address
143 MARTIN ST, RENO, NV 89509-2827
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2024
—
701 E 2nd St LLC
—
Deed
related
$600,000 · Meadows Bank
Mar 1, 2022
$580,000
701 E 2nd St LLC
Wirgler Properties LLC
Bargain And Sale Deed
$406,000 · Jason Yelowitz
Nov 19, 2019
—
Wirgler Properties LLC
Wirgler James L Trust
Quit Claim Deed
—
Apr 24, 2009
—
Wirgler James L Trust
Wirgler,james L
Quit Claim Deed
related
—
Mar 2, 2009
—
James L Wirgler
Wirgler,james L
Quit Claim Deed
related
$140,000 · Nevada State Bank
Mar 14, 2003
$338,000
James L Wirgler
Tarantino,james P
Grant Deed
—
Dec 6, 1995
$500
K T Corp
Tarantino,james P
Quit Claim Deed
related
—
May 12, 1992
$175,000
Washoe County Treasurer
Unknown
Grant Deed
—
—
—
James P Tarantino
—
Deed Of Trust
related
$50,000 · Sierrawest Bank
—
—
James Tarantino
—
Deed Of Trust
related
$75,000 · Routsis Trust
—
—
James P Tarantino
—
Deed Of Trust
related
$175,000 · Nevada State Bank
—
—
James Tarantino
—
Deed Of Trust
related
$75,000 · Buddy & Betsy Garfinkle
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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