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    Property profile & analytics

    1507 Rand Ave Carson City, NV 89706-2809

    • Apartment buildings
    • 10,800 SF
    • 0.35 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0077925
    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

    • Apartment buildings

    Property Details for 1507 Rand Ave

    Year built
    1987
    Lot size
    0.35 lot acres
    Property size
    10,800 SF
    Zone code
    MFA
    Property type
    Apartment buildings
    APN
    002-223-06
    APU
    222306

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Carson City
    County
    Carson City
    State
    Nevada
    Longitude
    -119.749
    Latitude
    39.1746
    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
    $7,943
    $85,484
    $179,939
    $265,423
    -
    $244,240
    $514,111
    $758,351

    Comparable in this City

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      612 SF

      2419 Dori Way

      APARTMENT HOUSE (5+ UNITS) • 612 SF
      2419 Dori Way, Carson City, NV 89706-1788
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    • Value Estimation
      $3,245,000
      25,425 SF

      603 College Pkwy

      APARTMENT HOUSE (5+ UNITS) • 25,425 SF
      603 College Pkwy, Carson City, NV 89706-1993
      View Details
    • Value Estimation by Request
      2,409 SF

      700 Hot Spgs Rd

      APARTMENT HOUSE (5+ UNITS) • 2,409 SF
      700 Hot Spgs Rd, Carson City, NV 89706-0911
      View Details
    • Value Estimation
      $4,910,000
      9,472 SF

      201 David St

      APARTMENT HOUSE (5+ UNITS) • 9,472 SF
      201 David St, Carson City, NV 89706-2682
      View Details
    • Value Estimation by Request
      1,100 SF

      675 Hot Spgs Rd

      APARTMENT HOUSE (5+ UNITS) • 1,100 SF
      675 Hot Spgs Rd, Carson City, NV 89706-1680
      View Details
    • Value Estimation by Request
      7,072 SF

      1501 Rand Ave

      APARTMENT HOUSE (5+ UNITS) • 7,072 SF
      1501 Rand Ave, Carson City, NV 89706-2807
      View Details

    Similar Nearby for Sale

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      Carson City Duplex For Sale

      Duplex with long-term tenants, close to schools and shopping.
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    • $1,925,000
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      Mound House Industrial Warehouse Buildings

      Two industrial buildings totaling 11,050 SF in Mound House, NV.
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    • $499,000
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      Carson City Development Site

      2.24-acre development site in Carson City's Tourist Commercial district.
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    • $1,100,000
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      Carson City Retail Investment Opportunity

      3,264 SF retail property with income and upside potential.
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    • $450,000
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      Carson City Commercial Land Parcel

      0.92-acre GI-zoned lot, ideal location.
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      Mound House Warehouse For Sale

      7,500 SF warehouse space available for purchase.
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    Similar Nearby for Lease

    • $1.40 SF/Yr
      2,200 SF

      Retail Space on Roop Street

      Retail space available May 1st, 2025, tenant pays utilities.
      725 Basque Way, Carson City, NV 89706
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    • Contact for pricing
      3,250 SF

      Carson City Flex/Industrial Space

      Flex/Industrial space available for lease in Carson City, Nevada.
      2211 Mouton Dr, Carson City, NV 89706
      View Details
    • $18 SF/Yr
      26,940 SF

      Carson City Office Space Available

      Multiple suites, 1,905-7,200 sq ft
      3427 Goni Rd, Carson City, NV 89706
      View Details
    • Contact for pricing
      2,200 SF

      Carson City Industrial Space Available

      Industrial space for lease with flexible M1 zoning.
      31 Carry Way, Carson City, NV 89706
      View Details
    • Contact for pricing
      1,584 SF

      Retail Space in Carson City

      Retail space available in a strategically located shopping center.
      3246 N Carson St, Carson City, NV 89706
      View Details
    • $13 SF/Yr
      8,700 SF

      Carson City Retail Space For Sale

      Prime 8,700 SF Retail Building
      3305 Carson St, Carson City, NV 89706
      View Details
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    1507 Rand Ave
    Carson City, NV 89706-2809
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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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