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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Commercial land
1585 Marvel Way Reno, NV 89502-6257
Entity Owned
2-yr Hold
Property ID
US62-0471479
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1942
Construction
WOOD FRAME
Total area
1,320 SF
Lot
1.9 ac (82,938 SF)
Zoning code
MU
APN
025-401-21
UPID
US62-0471479
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
$1.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$1.40M
Owner & transaction history
Marvel Way Apartments II LP · 2 yrs held
Marvel Way Apartments II LP
since 2023
Last sale
$1.4M
3 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
$1,890,000
ML approach
$1,355,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10% · vs last sale $1.38M (Sep 7 2023)
Last sale anchor
$1.38M
Sep 7 2023
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
$1,061 / 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
$8,181
Tax year 2023
Assessed value
$246,690
Assessed 2023
Effective rate
3.32%
On assessed value
Assessed land
$246,690
Land market value
$704,828
Total market value
$704,828
Applied tax rate
1,000.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1942
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Bathrooms
1
Total area
1,320 SF
Lot
1.9 ac (82,938 SF)
Zoning code
MU
APN
025-401-21
UPID
US62-0471479
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.
Building & site characteristics
From public records
Year built
1942
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Bathrooms
1
Lot
1.9 ac
Current owner
From public records · entity-resolved
Marvel Way Apartments II LP
Entity
Mailing address
7400 S VIRGINIA ST, RENO, NV 89511-1112
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2023
$1,377,596
Marvel Way Apartments II LP
The Empowerment Center
Bargain And Sale Deed
$750,000 · Washoe County Home Consortium
Aug 14, 2023
$704,828
The Empowerment Center
Marvel Way Apartments LP
Bargain And Sale Deed
—
Apr 30, 2021
$1,075,000
Marvel Way Apartments LP
Marvel Way Apartments Manager LLC
Bargain And Sale Deed
$1,000,000 · Washoe County Home Consortium
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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