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Property profile & analytics
FOR LEASE
Hotels
118 West St Reno, NV 89501
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0348240
For Lease
1 / 10
$13,235,000
118 West St, Reno, NV 89501
View Listing →
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
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
Eduardo Cerna · 4 yrs held
Eduardo Cerna
since 2021
Last sale
$14.0M
7 recorded transactions
Zoning & alternative use
MDRD · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$21.5M
+21.5%
Medical building
$18.7M
+5.6%
Auto repair, garage
$18.0M
+1.8%
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
$15,080,000
ML approach
$10,810,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$17,730,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$21,545,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$18,720,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$18,045,000
Change: +2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$17,705,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$14,395,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$13.24M
Range $11.91M – $14.56M · ±10% · vs last sale $14.00M (Dec 30 2021)
Last sale anchor
$14.00M
Dec 30 2021
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
$247 / 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
$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
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
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, NV
Zoning MDRD · permitted uses
MDRD · 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
HOTEL/MOTEL Current
Est. value
$17.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$21.5M
MEDICAL BUILDING
Est. value
$18.7M
AUTO REPAIR, GARAGE
Est. value
$18.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$17.7M
OFFICE BUILDING
Est. value
$14.4M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1907
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Stories
4
Buildings
2
Units
152
Lot
0.64 ac
Current owner
From public records · entity-resolved
Eduardo Cerna
Individual
Mailing address
6133 BRISTOL PKWY STE #270, CULVER CITY, CA 90230-6629
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2024
—
Mp Core Properties LLC
—
Deed
related
$15,000,000 · Apw Avenue Group Ltd
Dec 30, 2021
$2,130,617
Eduardo Cerna
Philip A Bourgeois
Quit Claim Deed
related
—
Dec 30, 2021
$14,000,000
Mp Core Properties LLC
Eduardo Cerna
Bargain And Sale Deed
—
Dec 30, 2021
—
Eduardo Cerna
Stephen T Lopes
Intrafamily Transfer
related
—
May 28, 2021
$1,175,028
Eduardo Cerna
Tae K Kai
Bargain And Sale Deed
—
Apr 29, 2021
—
Charles M Griswold
Charles M Griswold
Intrafamily Transfer
related
—
Mar 30, 2017
—
Eduardo Cerna
—
Deed
related
$3,694,811 · Ross Manor LLC
Dec 22, 2016
$7,370,000
Eduardo Cerna
Ross Manor LLC
Grant Deed
$3,684,811 · Private Individual
Feb 2, 2001
—
Ross Manor LLC
Ross Trust
Quit Claim Deed
related
$440,000 · Seller
Feb 8, 1999
—
Valley Bank Of Nevada
Web Service Co INC
Quit Claim Deed
related
—
—
—
Eduardo Cerna
—
Loan Modification
related
$3,694,811 · Ross Manor LLC
—
—
Ross Manor LLC
—
Deed Of Trust
related
$201,300 · Sierra Pacific FCU
—
—
Ross Manor LLC
—
Loan Modification
related
$99,900 · Sierra Pacific FCU
—
—
Ross Manor LLC
—
Loan Modification
related
$250,000 · Sierra Pacific FCU
—
—
Ross Manor LLC
—
Deed Of Trust
related
$590,000 · Us Bank NA
—
—
Ross Roberta A Trust
—
Deed Of Trust
related
$200,000 · Paul C Klein
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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