Entity Owned 
For Sale
1 / 6
$749,999
1921 Victorian Ave,Unit 1921-1923, Sparks, NV 89431
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Property summary
AI-generated overview
The property at 1921 Victorian Avenue in Sparks, located near the intersection of Kietzke Lane and Rail City Casino, consists of a street-facing commercial building and a separate rear two-story residential rental. The front commercial portion was historically used as a neighborhood market and includes existing retail fixtures; the building configuration provides a storefront-oriented component at the front with residential use behind it. The rear residence is barn-style and accessed from the alley, with off-street parking provided. The property is in MUD zoning, which supports a mixed commercial and residential configuration.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1921
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,160 SF
Lot
0.14 ac (5,968 SF)
Zoning code
MUD
APN
032-112-04
UPID
US62-1297974
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$645k
CAP Approach
CAP
$415k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$575k
Owner & transaction history
since 2023
Last sale
$640,000
3 recorded transactions
Zoning & alternative use
MUD · Sparks, NV
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 developm…
General category
MIXED_USE
Top alternative use upside
Neighborhood: shopping center
$880,000
+183.3%
Medical building
$405,000
+30.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$575k
Value range
$518k – $633k
±10% around blend
Estimated value / SF
$496 / SF
Confidence
Property data
100
Market benchmarks
100
Comparable evidence
60
$518k
blend $575k
$633k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
1,160 SF
Lot area
0.14 ac
Year built
1921
Stories
1
APN
032-112-04
Zoning
MUD
Assessed value
$39,173
Annual tax
$1,343
3
Income approach: direct capitalization
Partial preview
Income approach indication
$415k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$445k
@ 6.5% CAP return
$415k
@ 7% CAP return
$385k
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$575k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 31 sales
$268
+85%
Submarket 44 sales
$304
+63%
County 126 sales
$270
+83%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $496/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+183%
vs current-use indication
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Implied cap rate
4.70%
Implied, in-place cap rate for this retail space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.70%
9.0%
NOI (est.)
$45k *
Last sale · Jun 2023
$640k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$953k
Move the market yield to see immediate price impact.
Value / SF
$822
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.20%4.70%5.20%
$40k
$960k
$858k
$775k
$45k
$1.07M
$953k
$862k
$49k
$1.17M
$1.05M
$948k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,343
Tax year 2023
Assessed value
$39,173
Assessed 2023
Previous assessed
$34,672
+13.0% YoY
Effective rate
3.43%
On assessed value
Assessed land
$19,950
Assessed improvement
$19,223
Land market value
$57,000
Improvement market value
$54,924
Total market value
$111,924
Applied tax rate
2,000.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1921
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
1,160 SF
Lot
0.14 ac (5,968 SF)
Zoning code
MUD
APN
032-112-04
UPID
US62-1297974
Jurisdiction
WASHOE
Zoning & alternative use
MUD · Sparks, NVZoning MUD · permitted uses
MUD · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
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 developm…
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1921
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.14 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
MUD
MIXED_USE
Jurisdiction
Sparks, NV
Recorded code
MUD
Official district
MUD
Official district profile
What the municipal code says about MUD
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 developm…
General category
MIXED_USE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MUD in Sparks, NV.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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