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Property profile & analytics
OFF-MARKET
Estimated value
$6,165,000
Retail space
1651 Glendale Ave Sparks, NV 89431-5912
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US62-0354625
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1974
Construction
METAL FRAME
Total area
18,156 SF
Lot
2.14 ac (93,131 SF)
Zoning code
I
APN
034-040-31
UPID
US62-0354625
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
-
Sierra Machinery Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.96M
CAP Approach
CAP
$6.46M
Comparable Approach
Comparable
$5.58M
Blend (final)
Blend
$6.17M
Owner & transaction history
Three Rs LLC · 2 yrs held
Three Rs LLC
since 2023
Last sale
$6.6M
1 recorded transaction
Zoning & alternative use
I · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
I district provides intensive work processes such as manufacturing or basic resource handling. These areas are generally located south of I-80 between the western and eastern City boundaries. Other potential areas suited are along I-80 and/or rail corridor.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
2,393.27 ac
Source
Realmo
Top alternative use upside
Restaurant
$10.2M
+110.6%
Medical building
$6.4M
+30.5%
Apartment house (5+ units)
$6.0M
+23.2%
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
$5,895,000
ML approach
$5,955,000
CAP Approach
CAP Return
Estimation
6%
$7,000,000
6.5%
$6,460,000
7%
$6,000,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,865,000
Current use
RESTAURANT
$10,245,000
Change: +111% · Conversion: Easy
MEDICAL BUILDING
$6,350,000
Change: +31% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,995,000
Change: +23% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,240,000
Change: +8% · Conversion: Difficult
OFFICE BUILDING
$4,690,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,555,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$6.17M
Range $5.55M – $6.78M · ±10% · vs last sale $6.55M (Dec 6 2023)
Last sale anchor
$6.55M
Dec 6 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
$340 / 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
$22,619
Tax year 2023
Assessed value
$677,445
Assessed 2023
Previous assessed
$570,343
+18.8% YoY
Effective rate
3.34%
On assessed value
Assessed land
$325,959
Assessed improvement
$351,486
Land market value
$931,310
Improvement market value
$1,004,246
Total market value
$1,935,556
Applied tax rate
2,000.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1974
Construction
METAL FRAME
Heating
SPACE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
18,156 SF
Lot
2.14 ac (93,131 SF)
Zoning code
I
APN
034-040-31
UPID
US62-0354625
Jurisdiction
WASHOE
Zoning & alternative use
I · Sparks, NVZoning I · permitted uses
I · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
I district provides intensive work processes such as manufacturing or basic resource handling. These areas are generally located south of I-80 between the western and eastern City boundaries. Other potential areas suited are along I-80 and/or rail corridor.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
2,393.27 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.9M
RESTAURANT
Est. value
$10.2M
MEDICAL BUILDING
Est. value
$6.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.0M
INDUSTRIAL (GENERAL)
Est. value
$5.2M
OFFICE BUILDING
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$4.6M
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1974
Construction
METAL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
2.14 ac
Current owner
From public records · entity-resolved
Three Rs LLC
Entity
Mailing address
950 S ROCK BLVD, SPARKS, NV 89431-5922
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2023
$6,550,000
Three Rs LLC
Questar Corporation
Bargain And Sale Deed
$3,250,000 · Zb NA
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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