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    Property profile & analytics

    1870 Vassar St, Unit 4 Reno, NV 89510

    • Strip malls
    • 5,672 SF
    • 0.45 lot acres
    For Sale
    View listing
    $2,200,000
    Last Sale
    Nov 20, 2020
    $750,000
    Value Estimations
    Cap Rate Potential
    8.8%
    Strip malls
    Location Intelligence
    Property ID
    US62-0356981
    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

    • Instant Smog Inc / Oil Change Service
    • Vassar Market / Grocery Store
    • 3 Way of Nevada / Used Car Dealer
    • Q's Quik Smog / Smog Inspection Station
    • Iglesia de Cristo Shekina / Christian Church

    Property Details for 1870 Vassar St

    Year built
    1991
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.45 lot acres
    Property size
    5,672 SF
    Zone code
    GC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    013-333-01
    APU
    1333301

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $940,000
      ML approach
      $925,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,375,000
      6.5%
      $1,265,000
      7%
      $1,175,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.785
    Latitude
    39.5127
    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
    $5,628
    $123,493
    $148,881
    $272,374
    -
    $352,836
    $425,373
    $778,209

    Comparable in this City

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      9,081 SF

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    • Value Estimation
      $335,000
      5,640 SF

      2325 Kietzke Ln

      SHOPPING CENTER, STRIP CENTER • 5,640 SF
      2325 Kietzke Ln, Reno, NV 89502-3648
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    • Value Estimation
      $4,035,000
      7,500 SF

      499 Plumb Ln

      SHOPPING CENTER, STRIP CENTER • 7,500 SF
      499 Plumb Ln, Reno, NV 89502-3501
      View Details
    • Value Estimation
      $1,070,000
      37,388 SF

      290 Moana Ln

      SHOPPING CENTER, STRIP CENTER • 37,388 SF
      290 Moana Ln, Reno, NV 89502-4648
      View Details
    • Value Estimation
      $1,475,000
      53,646 SF

      4004 Kietzke Ln

      SHOPPING CENTER, STRIP CENTER • 53,646 SF
      4004 Kietzke Ln, Reno, NV 89502-5031
      View Details
    • Value Estimation
      $375,000
      8,850 SF

      2313 Kietzke Ln

      SHOPPING CENTER, STRIP CENTER • 8,850 SF
      2313 Kietzke Ln, Reno, NV 89502-3648
      View Details

    Similar Nearby for Sale

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      8,197 SF

      Hillcrest Shops: Reno Retail Center

      Reno Retail Investment: 100% Occupancy
      22 Hillcrest Dr, Reno, NV 89502
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    • $7,250,000
      41,256 SF

      Established Retail Center Investment Opportunity

      Well-established retail center with upside potential in Reno, Nevada.
      1565 Vassar St, Reno, NV 89502
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    • $1,500,000
      0.41 Acres

      Redevelopment Parcel in Reno Heart

      Prime 0.409 AC parcel suitable for retail, office, residential uses.
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      Midtown Reno Mixed-Use Property

      5,864 SF Office, Vacant, Opportunity Zone
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    Similar Nearby for Lease

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      31,164 SF

      Orchard Plaza Retail Space in Reno

      Prime Reno retail space, high visibility, multiple units.
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      Retail space for lease in central Reno's Orchard Plaza.
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      160,096 SF

      Kietzke Center: Reno Retail Space

      Prime Reno retail space, multiple suites available.
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    • $11 SF/Yr
      117,847 SF

      Meadowood Mall Retail Spaces Available

      Prime Retail Space, Meadowood Mall
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      View Details
    • Contact for pricing
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      Premier Reno Shopping Center Space

      Community/regional shopping center with high visibility and drawing power.
      4811 Kietzke Ln, Reno, NV 89502
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Reno Center

      Retail space available in Reno, anchored by prominent businesses.
      3370-3400 Kietzke Ln, Reno, NV 89502
      View Details
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    Reno, NV 89510
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    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
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