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Property profile & analytics
OFF-MARKET
Estimated value
$1,160,000
Medical Office Space
1155 Prater Way Sparks, NV 89431-4438
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US62-0316360
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1986
Construction
WOOD
Total area
3,025 SF
Lot
0.47 ac (20,604 SF)
Zoning code
MUD
APN
032-091-16
UPID
US62-0316360
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
-
Welmerink Orthodontics Dental Office
-
David Welmerink Dental Office
-
Adam Welmerink Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.16M
Owner & transaction history
Hortzak Properties LLC · 1 yrs held
Hortzak Properties LLC
since 2024
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
MUD · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Sparks submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sparks 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
$1,160,000
ML approach
$1,160,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,060,000
Current use
Blend value · Realmo final
$1.16M
Range $1.04M – $1.28M · ±10% · vs last sale $1.16M (Oct 28 2024)
Last sale anchor
$1.16M
Oct 28 2024
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
$383 / 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
$7,487
Tax year 2023
Assessed value
$212,631
Assessed 2023
Previous assessed
$189,175
+12.4% YoY
Effective rate
3.52%
On assessed value
Assessed land
$75,359
Assessed improvement
$137,272
Land market value
$215,312
Improvement market value
$392,205
Total market value
$607,517
Applied tax rate
2,000.0000
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
DENTAL BUILDING
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
3,025 SF
Lot
0.47 ac (20,604 SF)
Zoning code
MUD
APN
032-091-16
UPID
US62-0316360
Jurisdiction
WASHOE
Zoning & alternative use
MUD · Sparks, NV
Zoning MUD · permitted uses
MUD · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sparks. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.1M
MEDICAL BUILDING Current
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
1986
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Hortzak Properties LLC
Entity
Mailing address
3915 LAMAY LN, RENO, NV 89511-9523
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2024
—
Hortzak Properties LLC
Welmerink Properties LLC
Deed
related
—
Oct 28, 2024
$1,160,000
Hortzak Properties LLC
Welmerink Properties LLC
Bargain & Sale Deed
$1,412,000 · Us Bank Trust Co NA
Mar 28, 2006
—
Welmerink Properties LLC
Welmerink D W Fam Trust
Quit Claim Deed
—
—
—
Welmerink Properties LLC
—
Deed Of Trust
related
$650,000 · Wells Fargo Bank
—
—
Welmerink Properties LLC
—
Deed Of Trust
related
$220,000 · Welmerink M C Gst Trust (pt)
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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