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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Office buildings
1160 Selmi Dr Ste 402 Reno, NV 89512-4796
Individually Owned
3-yr Hold
Free & Clear
Property ID
US62-0942736
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Construction
WOOD
Total area
2,127 SF
Lot
0.05 ac (2,068 SF)
Zoning code
NC
APN
004-440-05
UPID
US62-0942736
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$995k
CAP Approach
CAP
$615k
Comparable Approach
Comparable
$754k
Blend (final)
Blend
$930k
Owner & transaction history
Richard Henry Lee · 3 yrs held
Richard Henry Lee
since 2022
Last sale
$930,000
7 recorded transactions
Zoning & alternative use
NC · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+88.6%
Neighborhood: shopping center
$855,000
+42.2%
Medical building
$740,000
+23.5%
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
$1,035,000
ML approach
$995,000
CAP Approach
CAP Return
Estimation
6%
$670,000
6.5%
$615,000
7%
$575,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$600,000
Current use
COMMERCIAL (GENERAL)
$1,135,000
Change: +89% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$855,000
Change: +42% · Conversion: Difficult
MEDICAL BUILDING
$740,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$715,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±10% · vs last sale $930k (Aug 17 2022)
Last sale anchor
$930k
Aug 17 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
$437 / 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
$2,485
Tax year 2023
Assessed value
$149,023
Assessed 2023
Previous assessed
$149,023
+0.0% YoY
Effective rate
1.67%
On assessed value
Assessed land
$36,190
Assessed improvement
$112,833
Land market value
$103,400
Improvement market value
$322,379
Total market value
$425,779
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2008
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
2,127 SF
Lot
0.05 ac (2,068 SF)
Zoning code
NC
APN
004-440-05
UPID
US62-0942736
Jurisdiction
WASHOE
Zoning & alternative use
NC · Reno, NV
Zoning NC · permitted uses
NC · 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
OFFICE BUILDING Current
Est. value
$600,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$855,000
MEDICAL BUILDING
Est. value
$740,000
AUTO REPAIR, GARAGE
Est. value
$715,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2008
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Richard Henry Lee
Individual
Free & Clear · 3 yrs held
Mailing address
1160 SELMI DR STE #401, RENO, NV 89512-4796
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2022
$930,000
Richard Henry Lee
Gregory Stephen Mulligan
Bargain And Sale Deed
—
Jun 14, 2013
$490,000
Gas Trust
Ridge Bar Corp
Grant Deed
—
Apr 25, 2013
$300,000
Ridge Bar Corp
Orchard Terrace Estates LLC
Grant Deed
$300,000 · Cain Maymie M Trust (pt)
Apr 2, 2013
$22,268
University Hlls Prof Center
Treasurer Of Washoe County
Grant Deed
—
Mar 18, 2013
$875,000
Orchard Terrace Estates LLC
University Hills Professional
Grant Deed
—
Jun 18, 2012
—
Tammi Davis
Treasurer Of Clark County
Tax Deed
related
—
Apr 9, 2007
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
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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