Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1531 Pittman Ave Sparks, NV 89431-5619

    • Investment properties
    • 1,271 SF
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0401484
    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

    • DMG / General Contractor

    Property Details for 1531 Pittman Ave

    Year built
    1936
    Construction
    FRAME
    Lot size
    0.32 lot acres
    Property size
    1,271 SF
    Zone code
    I
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    032-275-03
    APU
    3227503

    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
    Sparks
    County
    Washoe
    State
    Nevada
    Longitude
    -119.764
    Latitude
    39.5292
    CBSA code
    39900
    CBSA name
    RENO-SPARKS, 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
    2023
    $2,010
    $61,670
    $31,125
    $92,795
    -
    $176,200
    $88,929
    $265,129

    Comparable in this City

    • Value Estimation by Request
      1,325 SF

      1020 Pyramid Way

      STORE/OFFICE (MIXED USE) • 1,325 SF
      1020 Pyramid Way, Sparks, NV 89431-4456
      View Details
    • Value Estimation by Request
      1,014 SF

      Rock Blvd

      STORE/OFFICE (MIXED USE) • 1,014 SF
      Rock Blvd, Sparks, NV 89431
      View Details
    • Value Estimation by Request
      2,850 SF

      930 Victorian Ave

      STORE/OFFICE (MIXED USE) • 2,850 SF
      930 Victorian Ave, Sparks, NV 89431
      View Details
    • Value Estimation by Request
      1,090 SF

      321 10th St

      STORE/OFFICE (MIXED USE) • 1,090 SF
      321 10th St, Sparks, NV 89431
      View Details
    • Value Estimation by Request
      770 SF

      1602 A St

      STORE/OFFICE (MIXED USE) • 770 SF
      1602 A St, Sparks, NV 89431
      View Details
    • Value Estimation by Request
      0.32 Acres

      Prater Way

      STORE/OFFICE (MIXED USE) • 0.32 Acres
      Prater Way, Sparks, NV 89431
      View Details

    Similar Nearby for Sale

    • $779,000
      1,648 SF

      Mixed-Use Property on Rock Blvd

      Mixed-use property ideal for medical, dental, or professional services.
      1001 Rock Blvd, Sparks, NV 89431
      View Details
    • $315,000
      0.21 Acres

      Sparks, NV Multi-Use Development Land

      0.21 acres of versatile land in Sparks, NV for sale.
      402 5Th St, Sparks, NV 89431
      View Details
    • Contact for pricing
      1.75 Acres

      Sparks Commercial Land - 1.75 Acres

      Prime Commercial Land, Sparks, NV. C2 Zoning.
      2101 Sullivan Ln, Sparks, NV 89431
      View Details
    • $1,299,000
      3.01 Acres

      Reno Industrial Land - 3 Acres

      Prime industrial land near I-580/395.
      0 Virginia St, Sparks, NV 89431
      View Details
    • $670,000
      2,112 SF

      Downtown Sparks Office Building

      Renovated Office Building w/ Studio
      1645 D St, Sparks, NV 89431
      View Details
    • $1,200,000

      Land for Sale in Sparks

      Land available for sale at 2101 Sullivan Ln, Sparks, NV.
      2101 Sullivan Ln, Sparks, NV 89431
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      86,827 SF

      Greenbrae Commons Office Space

      Sparks, NV office suites: 328-6,766 sq ft.
      670 Greenbrae Dr, Sparks, NV 89431
      View Details
    • $1.25 SF/Yr
      2,526 SF

      Sparks Warehouse with Drive-Through Access

      2,526 SF warehouse with drive-through and private offices.
      155 Glendale Ave, Sparks, NV 89431
      View Details
    • $8 SF/Yr
      100,160 SF

      Sparks Warehouse with Office Space

      Warehouse with office space available for lease in Sparks.
      1280 Southern Way, Sparks, NV 89431
      View Details
    • Contact for pricing
      30,960 SF

      Sparks Warehouse Space Available

      30,960 SF warehouse space for lease in Sparks, Nevada.
      600 Dunn Cir, Sparks, NV 89431
      View Details
    • $9 SF/Yr
      40,040 SF

      Sparks Industrial Space Available

      Industrial property with 40,040 square feet available for lease.
      1150 Southern Way, Sparks, NV 89431
      View Details
    • Contact for pricing
      19,655 SF

      Sparks Warehouse Space Available

      Industrial warehouse space available for lease in Sparks, Nevada.
      980 United Cir, Sparks, NV 89431
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1531 Pittman Ave
    Sparks, NV 89431-5619
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.