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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Flex space
1480 Pittman Ave Sparks, NV 89431
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US62-0474850
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1982
Construction
METAL FRAME
Total area
1,540 SF
Lot
0.95 ac (41,382 SF)
Zoning code
I
APN
032-273-17
UPID
US62-0474850
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
$855k
Blend (final)
Blend
$1.41M
Owner & transaction history
Wbs Properties LLC · 5 yrs held
Wbs Properties LLC
since 2020
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
I · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.2M
+163.1%
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
NEIGHBORHOOD: SHOPPING CENTER
$1,170,000
Change: +163% · Conversion: Difficult
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±10% · vs last sale $1.70M (Dec 8 2020)
Last sale anchor
$1.70M
Dec 8 2020
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
$916 / 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
$6,950
Tax year 2023
Assessed value
$212,916
Assessed 2023
Previous assessed
$181,848
+17.1% YoY
Effective rate
3.26%
On assessed value
Assessed land
$137,595
Assessed improvement
$75,321
Land market value
$393,129
Improvement market value
$215,203
Total market value
$608,332
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1982
Construction
METAL FRAME
Heating
NONE
Cooling
NONE
Buildings
3
Stories
1
Units
3
Total area
1,540 SF
Lot
0.95 ac (41,382 SF)
Zoning code
I
APN
032-273-17
UPID
US62-0474850
Jurisdiction
WASHOE
Zoning & alternative use
I · Sparks, NV
Zoning I · permitted uses
I · 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
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
1982
Construction
METAL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
0.95 ac
Current owner
From public records · entity-resolved
Wbs Properties LLC
Entity
Mailing address
1479 HYMER AVE, SPARKS, NV 89431-5613
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 8, 2021
—
Wbs Properties LLC
—
Deed
related
$701,000 · Nevada State Development Corporation
Dec 8, 2020
$1,700,000
Wbs Properties LLC
Jerry Mcgrath
Bargain And Sale Deed
$850,000 · Heritage Bank Of Nevada
Jan 3, 2007
—
Mcgrath Jerry & H Family Trust
Mcgrath,jerry B & Heather B
Quit Claim Deed
related
—
Sep 28, 1999
—
Hyman Trust
Hyman Mcgrath & Dirocco
Quit Claim Deed
related
$479,920 · Hyman Trust
—
—
Mcgrath Hyman
—
Deed Of Trust
related
$1,000,000 · Nevada State Bank
—
—
Mcgrath Jerry & H Fam Trust
—
Deed Of Trust
related
$325,000 · Nevada State Development Corp
—
—
Mcgrath Jerry & H Fam Trust
—
Deed Of Trust
related
$392,500 · Heritage Bank Nevada
—
—
Jerry B Mcgrath
—
Deed Of Trust
related
$225,000 · Heritage Bank Nevada
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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