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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Schools
148 Richards Way Sparks, NV 89431-2364
Entity Owned
~
Est. High Equity
Property ID
US62-0467446
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,250 SF
Lot
0.98 ac (42,602 SF)
Zoning code
PF
APN
028-330-56
UPID
US62-0467446
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
-
Korean Presbyterian Church of Reno Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$680k
Owner & transaction history
Presbytery Of Nevada INC
Presbytery Of Nevada INC
1 recorded transaction
Zoning & alternative use
PF · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+78.5%
Retail stores
$875,000
+46.3%
Restaurant
$855,000
+42.6%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$600,000
Current use
OFFICE BUILDING
$1,070,000
Change: +79% · Conversion: Difficult
RETAIL STORES
$875,000
Change: +46% · Conversion: Difficult
RESTAURANT
$855,000
Change: +43% · Conversion: Difficult
MEDICAL BUILDING
$840,000
Change: +40% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$810,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$82 / 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
$29
Tax year 2023
Assessed value
$1,210,463
Assessed 2023
Previous assessed
$938,301
+29.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$134,196
Assessed improvement
$1,076,267
Land market value
$383,418
Improvement market value
$3,075,048
Total market value
$3,458,466
Applied tax rate
2,000.0000
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
8,250 SF
Lot
0.98 ac (42,602 SF)
Zoning code
PF
APN
028-330-56
UPID
US62-0467446
Jurisdiction
WASHOE
Zoning & alternative use
PF · Sparks, NV
Zoning PF · permitted uses
PF · 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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$600,000
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$875,000
RESTAURANT
Est. value
$855,000
MEDICAL BUILDING
Est. value
$840,000
INDUSTRIAL (GENERAL)
Est. value
$810,000
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
OFFICE BUILDING
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.98 ac
Current owner
From public records · entity-resolved
Presbytery Of Nevada INC
Entity
Mailing address
148 RICHARDS WAY, SPARKS, NV 89431-2364
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Presbytery Of Nevada INC
—
Deed Of Trust
related
$600,000 · Private Lender
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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