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Property profile & analytics
OFF-MARKET
Estimated value
$2,205,000
Casinos
1380 Newlands W Dr Fernley, NV 89408-9600
Entity Owned
2-yr Hold
Free & Clear
Property ID
US62-0869273
Property profile
Verified
Property type
Casinos
Use group
CASINO
Year built
1997
Total area
21,238 SF
Lot
1.98 ac (86,249 SF)
Zoning code
C2
APN
020-400-06
UPID
US62-0869273
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.21M
Owner & transaction history
Silverado Casino Investments LLC · 2 yrs held
Silverado Casino Investments LLC
since 2023
Last sale
$2.2M
2 recorded transactions
Zoning & alternative use
C2 · Fernley, 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 Fernley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fernley 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
$1,990,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,790,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,280,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$1,370,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.21M
Range $1.98M – $2.43M · ±10% · vs last sale $2.20M (Nov 1 2023)
Last sale anchor
$2.20M
Nov 1 2023
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
$104 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$47,649
Tax year 2024
Assessed value
$1,318,713
Assessed 2024
Previous assessed
$1,230,804
+7.1% YoY
Effective rate
3.61%
On assessed value
Land market value
$517,494
Improvement market value
$3,250,256
Total market value
$3,767,750
Applied tax rate
6.0000
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
Casinos
Use group
CASINO
Status
Off-Market
Year built
1997
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
21,238 SF
Lot
1.98 ac (86,249 SF)
Zoning code
C2
APN
020-400-06
UPID
US62-0869273
Jurisdiction
LYON
Zoning & alternative use
C2 · Fernley, NV
Zoning C2 · permitted uses
C2 · Fernley, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fernley. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1997
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
1.98 ac
Current owner
From public records · entity-resolved
Silverado Casino Investments LLC
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 160, VERDI, NV 89439-0160
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2024
—
Silverado Casino Investments LLC
—
Deed
related
$120,000,000 · Umpqua Bank
Nov 1, 2023
$2,203,458
Silverado Casino Investments LLC
Berry Properties INC
Bargain And Sale Deed
—
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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