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Property profile & analytics
OFF-MARKET
Estimated value
$6,935,000
Office buildings
1421 Pullman Dr Sparks, NV 89434-7921
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US62-0381009
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
32,581 SF
Lot
2.02 ac (87,991 SF)
Zoning code
MUD
APN
037-020-65
UPID
US62-0381009
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
-
Ccnn Vocational School Training Center
-
Alpine Academy High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.57M
Comparable Approach
Comparable
$8.90M
Blend (final)
Blend
$6.94M
Owner & transaction history
Rbk Investments LLC · 17 yrs held
Rbk Investments LLC
since 2009
3 recorded transactions
Zoning & alternative use
MUD · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$11.4M
+26.3%
Commercial (general)
$11.3M
+24.9%
Apartment house (5+ units)
$10.8M
+19.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,195,000
6.5%
$7,565,000
7%
$7,025,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,025,000
Current use
MEDICAL BUILDING
$11,395,000
Change: +26% · Conversion: Easy
COMMERCIAL (GENERAL)
$11,275,000
Change: +25% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$10,755,000
Change: +19% · Conversion: Easy
RETAIL STORES
$9,910,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$6.94M
Range $6.24M – $7.63M · ±10%
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
$213 / 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
$60,477
Tax year 2023
Assessed value
$1,750,000
Assessed 2023
Previous assessed
$1,529,150
+14.4% YoY
Effective rate
3.46%
On assessed value
Assessed land
$292,570
Assessed improvement
$1,457,430
Land market value
$835,914
Improvement market value
$4,164,086
Total market value
$5,000,000
Applied tax rate
2,002.0000
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
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
32,581 SF
Lot
2.02 ac (87,991 SF)
Zoning code
MUD
APN
037-020-65
UPID
US62-0381009
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
OFFICE BUILDING Current
Est. value
$9.0M
MEDICAL BUILDING
Est. value
$11.4M
COMMERCIAL (GENERAL)
Est. value
$11.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.8M
RETAIL STORES
Est. value
$9.9M
OFFICE BUILDING Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
2.02 ac
Current owner
From public records · entity-resolved
Rbk Investments LLC
Entity
Mailing address
3025 ML ST, RENO, NV 89502-2136
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2009
—
Rbk Investments LLC
Sparks Medical Arts Center LLC
Grant Deed
—
May 30, 2007
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
—
—
Rbk Investments LLC
—
Deed Of Trust
related
$1,200,000 · Trachok Family Trust
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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