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    Property profile & analytics

    1470 Medical Pkwy Carson City, NV 89703

    • Commercial real estate
    • 40,804 SF
    • 3.87 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0451220
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dr. Joseph M. Ludwick, MD / Pediatrician / Medical Clinic
    • Carson Medical Group: Slavin Shannon MD / Physician
    • American Association-Oral / Dental Office
    • Carson Tahoe Cardiology / Medical Clinic
    • Sierra Nevada Surgical Associates / Medical Clinic

    Property Details for 1470 Medical Pkwy

    Year built
    2007
    Lot size
    3.87 lot acres
    Property size
    40,804 SF
    Zone code
    RC
    Property type
    Commercial real estate
    APN
    007-531-39
    APU
    753139

    Description

    This exceptional Class A medical office space, located at 1470 Medical Parkway in Carson City, Nevada, presents a unique leasing opportunity. The building, known as Carson Tahoe MOB West, offers a total of 5,618 square feet across two stories and boasts ample free parking for tenants and visitors. Currently, a single, sizable suite encompassing 1,979 square feet is available for lease. This suite is part of a multi-tenant building, ideal for a variety of medical practices seeking a professional and convenient location. The property's prime location in Carson City, zip code 89703, ensures excellent visibility and accessibility. The building's classification as Class A signifies its high-quality construction, modern amenities, and desirable features. The spacious suite offers significant potential for customization to meet the specific needs of a medical practice. With its convenient location, ample parking, and modern design, this property represents an excellent investment for any medical professional or organization seeking a thriving practice environment in Carson City. The property is situated in Carson City County and offers a single suite within a larger building. This presents a rare opportunity to secure a substantial space in a well-maintained and highly sought-after medical office building. Interested parties are encouraged to inquire further to explore this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,530,000
      Market price range: $1.56M - $6.53M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,740,000
      Current use
      OFFICE BUILDING
      $9,690,000
      Change: +44% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Carson City
    County
    Carson City
    State
    Nevada
    Longitude
    -119.786
    Latitude
    39.201
    CBSA code
    16180
    CBSA name
    CARSON CITY, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $91,427
    $708,023
    $2,949,118
    $3,657,141
    -
    $2,022,924
    $8,426,050
    $10,448,974

    Comparable in this City

    • Value Estimation by Request
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      213 Minnesota St

      COMMERCIAL (GENERAL) • 1,564 SF
      213 Minnesota St, Carson City, NV 89703-4113
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    • Value Estimation by Request
      44,800 SF

      1300-1390 Curry St

      Office space • 44,800 SF
      1300-1390 Curry St, Carson City, NV 89703
      View Details
    • Value Estimation by Request
      2,368 SF

      808 Curry St

      COMMERCIAL (GENERAL) • 2,368 SF
      808 Curry St, Carson City, NV 89703-3916
      View Details
    • Value Estimation by Request
      1,443 SF

      1114 Curry St

      COMMERCIAL (GENERAL) • 1,443 SF
      1114 Curry St, Carson City, NV 89703-3801
      View Details
    • Value Estimation
      $605,000
      5,584 SF

      3608 Curry St

      COMMERCIAL (GENERAL) • 5,584 SF
      3608 Curry St, Carson City, NV 89703-6358
      View Details

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    Similar Nearby for Lease

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      Office suites for lease in Carson City, Nevada.
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    • $1,928,400

      Land for Lease

      Land available for lease in Carson City, Nevada.
      1393 Medical Pkwy, Carson City, NV 89703
      View Details
    • $19 SF/Yr
      35,426 SF

      Prime Carson City Office Space

      Executive Suites, 10+ Spaces Available
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    • $39 SF/Yr
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      Carson City Executive Office Space

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    Carson City, NV 89703
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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