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Property profile & analytics
OFF-MARKET
Estimated value
$11,700,000
Warehouses
1939 Richards Plb Sparks, NV 89431-3104
Entity Owned
5-yr Hold
Free & Clear
Property ID
US62-0813533
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2018
Construction
METAL FRAME
Total area
49,985 SF
Lot
2.95 ac (128,502 SF)
Zoning code
C2
APN
028-310-06
UPID
US62-0813533
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
$12.20M
CAP Approach
CAP
$7.90M
Comparable Approach
Comparable
$11.67M
Blend (final)
Blend
$11.70M
Owner & transaction history
Vernalis Partners Ltd · 5 yrs held
Vernalis Partners Ltd
since 2020
Last sale
$11.5M
4 recorded transactions
Zoning & alternative use
C2 · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$17.5M
+119.1%
Apartment house (5+ units)
$16.5M
+106.8%
Industrial (general)
$14.4M
+80.8%
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
by Request
ML approach
$12,195,000
CAP Approach
CAP Return
Estimation
6%
$8,550,000
6.5%
$7,895,000
7%
$7,330,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,980,000
Current use
MEDICAL BUILDING
$17,485,000
Change: +119% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$16,500,000
Change: +107% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$14,420,000
Change: +81% · Conversion: Easy
RETAIL STORES
$13,395,000
Change: +68% · Conversion: Moderate
OFFICE BUILDING
$12,915,000
Change: +62% · Conversion: Difficult
Blend value · Realmo final
$11.70M
Range $10.53M – $12.87M · ±10% · vs last sale $11.48M (Dec 29 2020)
Last sale anchor
$11.48M
Dec 29 2020
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
$234 / 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
$76,846
Tax year 2023
Assessed value
$2,486,033
Assessed 2023
Previous assessed
$2,053,535
+21.1% YoY
Effective rate
3.09%
On assessed value
Assessed land
$299,088
Assessed improvement
$2,186,945
Land market value
$854,538
Improvement market value
$6,248,413
Total market value
$7,102,951
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2018
Construction
METAL FRAME
Heating
YES
Buildings
9
Stories
1
Units
9
Bathrooms
2
Total area
49,985 SF
Lot
2.95 ac (128,502 SF)
Zoning code
C2
APN
028-310-06
UPID
US62-0813533
Jurisdiction
WASHOE
Zoning & alternative use
C2 · Sparks, NV
Zoning C2 · permitted uses
C2 · 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
$8.0M
MEDICAL BUILDING
Est. value
$17.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$16.5M
INDUSTRIAL (GENERAL)
Est. value
$14.4M
RETAIL STORES
Est. value
$13.4M
OFFICE BUILDING
Est. value
$12.9M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
RETAIL STORES
OFFICE 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
2018
Construction
METAL FRAME
Heating
YES
Stories
1
Buildings
9
Units
9
Bathrooms
2
Lot
2.95 ac
Current owner
From public records · entity-resolved
Vernalis Partners Ltd
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 510, LATHROP, CA 95330-0510
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2020
$11,475,000
Vernalis Partners Ltd
2050 Pyramid Way LLC
Grant Deed
—
Aug 6, 2020
—
2050 Pyramid Way LLC
—
Deed
related
$6,450,000 · Standard Insurance Co
Aug 24, 2018
—
2050 Pyramid Way LLC
—
Grant Deed
related
$5,861,000 · Mountain W Debt Fund
May 24, 2018
—
2050 Pyramid Way LLC
—
Trustees Deed
related
$4,500,000 · Meadows Bk
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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