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    Property profile & analytics

    1029 Riverview Dr Gardnerville, NV 89460-8906

    • Commercial real estate
    • 6,100 SF
    • 1.04 lot acres
    OFF-MARKET
    Last Sale
    Mar 07, 2025
    $1,100,000
    Value Estimations
    $1,075,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0883946
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Carson Valley Country Club / Restaurant / Bar

    Property Details for 1029 Riverview Dr

    Year built
    1965
    Lot size
    1.04 lot acres
    Property size
    6,100 SF
    Property type
    Commercial real estate
    APN
    1220-10-811-037
    APU
    122010811037

    Description

    This exceptional 6,100 square foot commercial property, located at 1029 Riverview Drive in Gardnerville, Nevada, presents a unique investment opportunity. Situated on two contiguous parcels totaling 1.75 acres, this property boasts a rich history as part of the Carson Valley Country Club. The main building, a remodeled restaurant (1998), offers ample space for a variety of commercial uses. In addition to the restaurant area, the property includes a substantial office space and two separate living quarters, providing flexibility for residential or mixed-use development. The property benefits from NC zoning, opening doors to a range of development possibilities. Significant upgrades have been made, including a new HVAC system installed in 2019, ensuring efficient and comfortable operation. The expansive 1.75-acre lot provides ample room for expansion or outdoor amenities. This property is ideally positioned to capitalize on the growing Gardnerville market and offers a rare chance to acquire a piece of local history with significant upside potential. The combination of existing building infrastructure, generous lot size, and favorable zoning makes this an attractive proposition for discerning investors and developers seeking a prime location in a desirable Nevada community. The asking price is $1,100,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,090,000
      ML approach
      $1,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $654,000
      Market price range: $443k - $1.84M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gardnerville
    County
    Douglas
    State
    Nevada
    Longitude
    -119.72
    Latitude
    38.913
    CBSA code
    23820
    CBSA name
    GARDNERVILLE RANCHOS, NV MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $5,237
    $63,350
    $89,797
    $153,147
    -
    $181,000
    $256,563
    $437,563

    Comparable in this City

    • Value Estimation
      $680,000
      157,907 SF

      699 Long Vly Rd

      COMMERCIAL (GENERAL) • 157,907 SF
      699 Long Vly Rd, Gardnerville, NV 89460-8225
      View Details
    • Value Estimation
      $285,000
      1,860 SF

      830 Pbaul St

      COMMERCIAL (GENERAL) • 1,860 SF
      830 Pbaul St, Gardnerville, NV 89460
      View Details
    • Value Estimation
      $415,000
      9,952 SF

      1227 Kimmerling Rd

      COMMERCIAL (GENERAL) • 9,952 SF
      1227 Kimmerling Rd, Gardnerville, NV 89460
      View Details
    • Value Estimation
      $1,215,000
      60,424 SF

      1281 Kimmerling Rd

      COMMERCIAL (GENERAL) • 60,424 SF
      1281 Kimmerling Rd, Gardnerville, NV 89460-7565
      View Details
    • Value Estimation
      $300,000
      2,932 SF

      1307 Langley Dr

      COMMERCIAL (GENERAL) • 2,932 SF
      1307 Langley Dr, Gardnerville, NV 89460-8978
      View Details
    • Value Estimation
      $400,000
      6,476 SF

      320 State Rte 88

      COMMERCIAL (GENERAL) • 6,476 SF
      320 State Rte 88, Gardnerville, NV 89460-7546
      View Details

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    1029 Riverview Dr
    Gardnerville, NV 89460-8906
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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