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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Warehouses
1845 Hymer Ave Sparks, NV 89431-5537
Entity Owned
2-yr Hold
Free & Clear
Property ID
US62-0368120
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1973
Construction
METAL FRAME
Total area
4,800 SF
Lot
0.32 ac (14,000 SF)
Zoning code
I
APN
032-262-08
UPID
US62-0368120
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
-
A & J Grinding Industrial Manufacturer
-
Universal Site Services Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$870k
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$709k
Blend (final)
Blend
$870k
Owner & transaction history
Vella Enterprises LP · 2 yrs held
Vella Enterprises LP
since 2024
Last sale
$870,000
7 recorded transactions
Zoning & alternative use
I · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.3M
+67.9%
Office building
$1.2M
+61.8%
Commercial (general)
$1.2M
+57.1%
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
$870,000
ML approach
$870,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$765,000
Current use
RETAIL STORES
$1,285,000
Change: +68% · Conversion: Moderate
OFFICE BUILDING
$1,240,000
Change: +62% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,205,000
Change: +57% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,120,000
Change: +46% · Conversion: Easy
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $870k (Apr 12 2024)
Last sale anchor
$870k
Apr 12 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
$181 / 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
$2,754
Tax year 2023
Assessed value
$81,845
Assessed 2023
Previous assessed
$81,845
+0.0% YoY
Effective rate
3.36%
On assessed value
Assessed land
$55,125
Assessed improvement
$26,720
Land market value
$157,500
Improvement market value
$76,343
Total market value
$233,843
Applied tax rate
2,002.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1973
Construction
METAL FRAME
Heating
SPACE
Cooling
YES
Stories
1
Units
1
Total area
4,800 SF
Lot
0.32 ac (14,000 SF)
Zoning code
I
APN
032-262-08
UPID
US62-0368120
Jurisdiction
WASHOE
Zoning & alternative use
I · Sparks, NV
Zoning I · permitted uses
I · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sparks. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$765,000
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE Current
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1973
Construction
METAL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Vella Enterprises LP
Entity
Free & Clear · 2 yrs held
Mailing address
760 E CAPITOL AVE, MILPITAS, CA 95035-6812
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 12, 2024
—
Vella Enterprises LP
Vella Enterprises
Intrafamily Transfer
related
—
Mar 27, 2023
$870,000
Vella Enterprises
Douglas Stafford
Bargain And Sale Deed
—
Aug 20, 1997
$290,000
Douglas Stafford
Jurach Trust
Grant Deed
$220,000 · Zions First National Bank
Dec 26, 1996
$216,000
Jurach Trust
Salvo,robert A & Pamela G
Grant Deed
—
Jan 4, 1994
$160,000
Robert A Salvo
Clark,wayne C &
Grant Deed
$140,000 · Individual
Sep 27, 1993
$150,000
Wayne C Clark
Davis,fred D & D
Grant Deed
—
—
—
Douglas E Stafford
—
Deed Of Trust
related
$75,000 · Nevada Development Capital Cor
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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