Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Plumb Ln Reno, NV 89509-3433

    • Community centers
    • 21,240 SF
    • 3.00 lot acres
    OFF-MARKET
    Last Sale
    Feb 28, 2020
    $12,678,000
    Value Estimations
    $11,490,000
    Show details
    Cap Rate Potential
    2.4%
    Community centers
    Location Intelligence
    Property ID
    US62-1097882
    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

    • Utter Mortgage Company / Loan Service / Bank
    • Loan Till Payday Online / Loan Service

    Property Details for 115 Plumb Ln

    Year built
    1965
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.00 lot acres
    Property size
    21,240 SF
    Zone code
    MU
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    014-251-54
    APU
    1425154

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,905,000
      ML approach
      $10,385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,808,000
      Market price range: $4.74M - $12.9M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $8,535,000
      Current use
      COMMERCIAL (GENERAL)
      $11,320,000
      Change: +33% Conversion: Easy
      RESTAURANT
      $8,690,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $7,415,000
      Change: -13% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $7,150,000
      Change: -16% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $7,010,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.805
    Latitude
    39.5064
    CBSA code
    39900
    CBSA name
    RENO-SPARKS, NV METROPOLITAN 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
    2023
    $45,098
    $593,993
    $716,284
    $1,310,277
    -
    $1,697,124
    $2,046,525
    $3,743,649

    Comparable in this City

    • Value Estimation
      $5,665,000
      44,523 SF

      933 Moana Ln

      MINI-MALL • 44,523 SF
      933 Moana Ln, Reno, NV 89509-4844
      View Details
    • Value Estimation by Request
      25,938 SF

      3450 Lakeside Dr

      MINI-MALL • 25,938 SF
      3450 Lakeside Dr, Reno, NV 89509-4854
      View Details
    • Value Estimation by Request
      152,639 SF

      Virginia St. & Kietzke Ln

      Lifestyle centers • 152,639 SF
      0 Virginia St. & Kietzke Ln, Reno, NV 89509
      View Details
    • Value Estimation by Request
      15,114 SF

      3480 Lakeside Dr

      MINI-MALL • 15,114 SF
      3480 Lakeside Dr, Reno, NV 89509-4886
      View Details
    • Value Estimation
      $30,425,000
      208,970 SF

      4855 Kietzke Ln

      WHOLESALE OUTLET, DISCOUNT STORE • 208,970 SF
      4855 Kietzke Ln, Reno, NV 89509-6549
      View Details
    • Value Estimation
      $1,455,000
      8,319 SF

      538 Plumb Ln

      SHOPPING CENTER, STRIP CENTER • 8,319 SF
      538 Plumb Ln, Reno, NV 89509-3699
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,973 SF

      Established Reno Retail Center

      Retail center in central Reno with diverse tenant mix.
      465-499 E Plumb Ln, Reno, NV 89509
      View Details
    • $749,000

      Two Leased Office Buildings

      Two fully leased office buildings with redevelopment potential.
      12 W Taylor St, Reno, NV 89509
      View Details
    • Contact for pricing
      1,662 SF

      Retail Space For Sale

      Retail space available with a 4.75% CAP rate.
      329 Booth St, Reno, NV 89509
      View Details
    • $1,150,000
      2,785 SF

      Versatile Midtown Reno Mixed-Use Building

      Mixed-use building in Midtown Reno with commercial and residential zoning.
      235 W Pueblo St, Reno, NV 89509
      View Details
    • Contact for pricing
      13,082 SF

      California Hill Portfolio For Sale

      Two buildings totaling ±13,082 SF with 16 tenants.
      247 California Ave, Reno, NV 89509
      View Details
    • $200,000
      1.23 Acres

      Reno Land with Downtown Views

      One-acre parcel with downtown Reno views and engineered septic.
      3265 Markridge Dr, Reno, NV 89509
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      1,300 SF

      Retail Space with Highway Visibility

      Retail spaces available in high-density area near Highway 580.
      1300 E Plumb Ln, Reno, NV 89509
      View Details
    • Contact for pricing
      11,786 SF

      Retail Space in Reno Market

      Retail space available in modern Reno Public Market.
      283 E Plumb Ln, Reno, NV 89509
      View Details
    • $24 SF/Yr
      1,449 SF

      Retail Space in Reno, Nevada

      Retail space available in a strong residential location.
      901-973 W Moana Ln, Reno, NV 89509
      View Details
    • Contact for pricing
      8,555 SF

      Premier Reno Shopping Center Space

      Community shopping center with high visibility and drawing power.
      4809 Kietzke Ln, Reno, NV 89509
      View Details
    • $1.50 SF/Yr

      Retail or Office Suite

      226 SF retail or office suite in Midtown.
      105 Mount Rose St, Reno, NV 89509
      View Details
    • Contact for pricing
      1,543 SF

      MidTown Reno Retail Opportunity

      Retail spaces available with shared grease interceptor and parking.
      20 California Ave, Reno, NV 89509
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    115 Plumb Ln
    Reno, NV 89509-3433
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!