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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Office buildings
16520 Wedge Pkwyb-200 Reno, NV 89511-3319
Entity Owned
2-yr Hold
Free & Clear
Property ID
US62-0407270
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Construction
WOOD
Total area
1,548 SF
Lot
0.05 ac (2,153 SF)
Zoning code
SPD
APN
142-230-10
UPID
US62-0407270
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
$520k
CAP Approach
CAP
$450k
Comparable Approach
Comparable
$474k
Blend (final)
Blend
$520k
Owner & transaction history
Wedge Parkway LLC · 2 yrs held
Wedge Parkway LLC
since 2024
Last sale
$521,784
7 recorded transactions
Zoning & alternative use
SPD · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$825,000
+76.4%
Neighborhood: shopping center
$620,000
+33.0%
Medical building
$570,000
+21.5%
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
$520,000
ML approach
$520,000
CAP Approach
CAP Return
Estimation
6%
$485,000
6.5%
$450,000
7%
$415,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$470,000
Current use
COMMERCIAL (GENERAL)
$825,000
Change: +76% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$620,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$570,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$520,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$400,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $522k (Apr 22 2024)
Last sale anchor
$522k
Apr 22 2024
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
$336 / 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
$3,494
Tax year 2023
Assessed value
$115,278
Assessed 2023
Previous assessed
$115,278
+0.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$29,799
Assessed improvement
$85,479
Land market value
$85,140
Improvement market value
$244,227
Total market value
$329,367
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
1,548 SF
Lot
0.05 ac (2,153 SF)
Zoning code
SPD
APN
142-230-10
UPID
US62-0407270
Jurisdiction
WASHOE
Zoning & alternative use
SPD · Reno, NV
Zoning SPD · permitted uses
SPD · 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
OFFICE BUILDING Current
Est. value
$470,000
COMMERCIAL (GENERAL)
Est. value
$825,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$620,000
MEDICAL BUILDING
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$520,000
RETAIL STORES
Est. value
$400,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2004
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Wedge Parkway LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2215 RHODES RD, RENO, NV 89521-9658
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2024
$521,784
Wedge Parkway LLC
Robert David Mitchell
Bargain And Sale Deed
—
Aug 11, 2016
$310,000
Mitchell,r & C Family Trust
Holman Family Trust
Grant Deed
—
May 13, 2013
$195,000
Holman Family Trust
Branch Bk & Trust Co Of Nc
Grant Deed
$30,000 · Richard & Toni Lowden
Sep 20, 2012
$156,000
Branch Bkng & Trust Co
Western Title Co LLC
Trustees Deed
related
—
Apr 22, 2008
—
Kelley Radow
Radow,marc E
Quit Claim Deed
—
Apr 26, 2005
$321,500
Marc E Radow
Whites Creek Investors LLC
Bargain And Sale Deed
$210,000 · Colonial Bank NA
Jan 20, 2005
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
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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