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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Retail space
1915 Prater Way Sparks, NV 89431
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-1137903
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,131 SF
Lot
0.13 ac (5,663 SF)
Zoning code
MUD
APN
032-062-16
UPID
US62-1137903
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
$600k
CAP Approach
CAP
$400k
Comparable Approach
Comparable
$483k
Blend (final)
Blend
$590k
Owner & transaction history
Robert Joseph Horchem · 4 yrs held
Robert Joseph Horchem
since 2022
Last sale
$717,369
7 recorded transactions
Zoning & alternative use
MUD · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
These districts provide a mix of uses, including high-density residential. The district allows vertical and/or horizontal mixing of uses on sites. The regulations create mix of uses with an efficient and compact development pattern that encourages shared parking and economical use of land. Higher density and intensity is transitioned away from established ne…
Zone name
Mixed Use District
General category
MIXED_USE
Zone area
836.03 ac
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$860,000
+183.3%
Medical building
$395,000
+30.5%
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 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
$615,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
$435,000
6.5%
$400,000
7%
$375,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$860,000
Change: +183% · Conversion: Moderate
MEDICAL BUILDING
$395,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $717k (Feb 25 2022)
Last sale anchor
$717k
Feb 25 2022
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
$522 / 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
$1,784
Tax year 2023
Assessed value
$77,011
Assessed 2023
Previous assessed
$64,868
+18.7% YoY
Effective rate
2.32%
On assessed value
Assessed land
$45,114
Assessed improvement
$31,897
Land market value
$128,898
Improvement market value
$91,133
Total market value
$220,031
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
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
EVAPORATIVE
Buildings
3
Stories
1
Units
3
Bathrooms
2
Total area
1,131 SF
Lot
0.13 ac (5,663 SF)
Zoning code
MUD
APN
032-062-16
UPID
US62-1137903
Jurisdiction
WASHOE
Zoning & alternative use
MUD · Sparks, NVZoning MUD · permitted uses
MUD · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
These districts provide a mix of uses, including high-density residential. The district allows vertical and/or horizontal mixing of uses on sites. The regulations create mix of uses with an efficient and compact development pattern that encourages shared parking and economical use of land. Higher density and intensity is transitioned away from established neighborhoods
Zone name
Mixed Use District
General category
MIXED_USE
Zone area
836.03 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$860,000
MEDICAL BUILDING
Est. value
$395,000
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
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
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Bathrooms
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
Robert Joseph Horchem
Individual
Mailing address
PO BOX 5788, STATELINE, NV 89449-5788
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2022
$717,369
Robert Joseph Horchem
John R Kenny
Bargain And Sale Deed
$743,194 · Celebrity Home Loans LLC
Aug 30, 2011
$55,000
John R Kenny
Ib Property Holdings LLC
Grant Deed
—
Nov 6, 2008
$210,000
Ib Property Holdings LLC
Seaside Trustee INC
Trustees Deed
related
—
Nov 30, 2007
—
Carime Mendoza-depineda
Pineda,reinaldo
Quit Claim Deed
related
—
Nov 30, 2007
$109,000
Carime Mendoza-depineda
Gutierrez,antonio R
Grant Deed
$315,000 · Interbay Funding LLC
Aug 9, 2005
—
Antonio Gutierrez
Gutierrez,lillian I
Quit Claim Deed
related
—
Aug 9, 2005
$218,000
John Cetina
Omassey,michael
Grant Deed
$196,200 · Michael O'massey
Aug 15, 2003
$153,000
Michael Omassey
Higgins,patrick W
Grant Deed
—
Aug 15, 2002
$65,000
Patrick W Higgins
Fukunaga,tr
Grant Deed
$65,000 · Fukunaga Trust
Jun 8, 2001
$55,433
Fukugana Trust
Garcia,ernesto & Fe
Trustees Deed
—
Dec 20, 1993
$77,500
Ernesto Garcia
Fukunaga,harold
Grant Deed
$67,500 · Seller
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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