Individually Owned 
For Lease
1 / 10
$13,235,000
118 West St, Reno, NV 89501
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Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1907
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
53,628 SF
Lot
0.64 ac (28,009 SF)
Zoning code
MDRD
APN
011-042-12
UPID
US62-0348240
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.81M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.29M
Blend (final)
Blend
$13.24M
Owner & transaction history
since 2021
Last sale
$14.0M
7 recorded transactions
Zoning & alternative use
MDRD · Reno, NV
Top alternative use upside
Neighborhood: shopping center
$21.5M
+21.5%
Medical building
$18.7M
+5.6%
Auto repair, garage
$18.0M
+1.8%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$13.24M
Value range
$11.91M – $14.56M
±10% around blend
Estimated value / SF
$247 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$11.91M
blend $13.24M
$14.56M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
53,628 SF
Lot area
0.64 ac
Year built
1907
Stories
4
APN
011-042-12
Zoning
MDRD
Assessed value
$965,435
Annual tax
$35,314
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$12.29M
Range $10.40M – $23.96M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$13.24M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 43 sales
$331
-25%
County 49 sales
$309
-20%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $247/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+22%
vs current-use indication
Medical Building
Auto Repair, Garage
Hotel/motel · current use
Apartment House (5+ Units)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
2.00%
Implied, in-place cap rate for this hotels
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$980k *
Last sale · Dec 2021
$14.00M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$49.00M
Move the market yield to see immediate price impact.
Value / SF
$914
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
1.50%2.00%2.50%
$882k
$58.80M
$44.10M
$35.28M
$980k
$65.33M
$49.00M
$39.20M
$1.08M
$71.87M
$53.90M
$43.12M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,314
Tax year 2023
Assessed value
$965,435
Assessed 2023
Previous assessed
$777,072
+24.2% YoY
Effective rate
3.66%
On assessed value
Assessed land
$218,855
Assessed improvement
$746,580
Land market value
$625,301
Improvement market value
$2,133,085
Total market value
$2,758,386
Applied tax rate
1,001.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
For Lease
Year built
1907
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Buildings
2
Stories
4
Units
152
Total area
53,628 SF
Lot
0.64 ac (28,009 SF)
Zoning code
MDRD
APN
011-042-12
UPID
US62-0348240
Jurisdiction
WASHOE
Zoning & alternative use
MDRD · Reno, NVZoning MDRD · permitted uses
MDRD · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1907
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Stories
4
Buildings
2
Units
152
Lot
0.64 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
MDRD
Jurisdiction
Reno, NV
Recorded code
MDRD
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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