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Property profile & analytics
OFF-MARKET
Estimated value
$23,255,000
Medical Office Space
1500 2nd St Reno, NV 89502-1262
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US62-0379726
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2000
Construction
FRAME
Total area
99,972 SF
Lot
3.61 ac (157,252 SF)
Zoning code
MU
APN
012-161-33
UPID
US62-0379726
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
-
Dr. Charles M. Carpenter, MD Physician
-
Center for Advanced Medicine B Medical Clinic Hospital
-
Unr Advanced Med Hospital
-
Renown Advanced Wound Care Medical Clinic
-
Renown Institute for Heart & Vascular Health Physician Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$23.89M
Comparable Approach
Comparable
$21.21M
Blend (final)
Blend
$23.26M
Owner & transaction history
The Plaza At Washoe LLC · 5 yrs held
The Plaza At Washoe LLC
since 2020
2 recorded transactions
Zoning & alternative use
MU · Reno, 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 Reno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reno 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%
$25,880,000
6.5%
$23,890,000
7%
$22,185,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$34,895,000
Current use
APARTMENT HOUSE (5+ UNITS)
$33,005,000
Change: -5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$31,980,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$23.26M
Range $20.93M – $25.58M · ±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
$233 / 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
$250,315
Tax year 2023
Assessed value
$7,392,605
Assessed 2023
Previous assessed
$6,324,091
+16.9% YoY
Effective rate
3.39%
On assessed value
Assessed land
$770,530
Assessed improvement
$6,622,075
Land market value
$2,201,514
Improvement market value
$18,920,213
Total market value
$21,121,727
Applied tax rate
1,002.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
4
Units
1
Total area
99,972 SF
Lot
3.61 ac (157,252 SF)
Zoning code
MU
APN
012-161-33
UPID
US62-0379726
Jurisdiction
WASHOE
Zoning & alternative use
MU · Reno, NV
Zoning MU · permitted uses
MU · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$34.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$33.0M
AUTO REPAIR, GARAGE
Est. value
$32.0M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
2000
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
4
Units
1
Lot
3.61 ac
Current owner
From public records · entity-resolved
The Plaza At Washoe LLC
Entity
Mailing address
3394 CARMEL MTN RD STE #200, SAN DIEGO, CA 92121-1073
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2020
—
The Plaza At Washoe LLC
—
Deed
related
$16,225,000 · State Farm Life Insurance Co
—
—
Plaza At Washoe LLC
—
Deed Of Trust
related
$14,700,000 · Bb&t R/e Fndg
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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