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Property profile & analytics
OFF-MARKET
Estimated value
$1,290,000
Retail space
1962 Pyramid Way Sparks, NV 89431-2127
Individually Owned
22-yr Hold
Free & Clear
Property ID
US62-0456352
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1961
Construction
FRAME
Total area
5,600 SF
Lot
0.95 ac (41,382 SF)
Zoning code
C2
APN
028-361-03
UPID
US62-0456352
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
-
Reno-Sparks Indian Colony Smoke Shop (Bike/Boat/Book/etc) Store
-
Greenbrae Trophy Center (Bike/Boat/Book/etc) Store
-
Smoke Shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$823k
Blend (final)
Blend
$1.29M
Owner & transaction history
USA · 22 yrs held
USA
since 2003
4 recorded transactions
Zoning & alternative use
C2 · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C2 district provides a mix of retail and other commercial services in concentrated centers that serve the local community, or tourist-oriented uses adjacent to I-80 and the Spanish Springs Valley. It may also include larger retail centers that serve as a regional draw. Single-use or strip center commercial patterns of development are discouraged. Smaller, li…
Zone name
General Commercial
General category
COMMERCIAL
Zone area
258.18 ac
Source
Realmo
Top alternative use upside
Medical building
$2.0M
+30.5%
Apartment house (5+ units)
$1.9M
+23.2%
Industrial (general)
$1.6M
+7.7%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,500,000
Current use
MEDICAL BUILDING
$1,960,000
Change: +31% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,850,000
Change: +23% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,615,000
Change: +8% · Conversion: Difficult
OFFICE BUILDING
$1,445,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,405,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.29M
Range $1.16M – $1.42M · ±10%
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
$230 / 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
Assessed value
$252,665
Assessed 2023
Previous assessed
$236,659
+6.8% YoY
Assessed land
$152,079
Assessed improvement
$100,586
Land market value
$434,511
Improvement market value
$287,389
Total market value
$721,900
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
1961
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
5,600 SF
Lot
0.95 ac (41,382 SF)
Zoning code
C2
APN
028-361-03
UPID
US62-0456352
Jurisdiction
WASHOE
Zoning & alternative use
C2 · Sparks, NVZoning C2 · permitted uses
C2 · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C2 district provides a mix of retail and other commercial services in concentrated centers that serve the local community, or tourist-oriented uses adjacent to I-80 and the Spanish Springs Valley. It may also include larger retail centers that serve as a regional draw. Single-use or strip center commercial patterns of development are discouraged. Smaller, limited use centers should be integrated into the surrounding neighborhood.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
258.18 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1961
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
USA
Individual
Free & Clear · 22 yrs held
Mailing address
311 E WASHINGTON ST, CARSON CITY, NV 89701-4065
Ownership since
2003
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 16, 2003
$670,000
USA
Reno/sparks Indian Colony
Grant Deed
—
Nov 21, 2001
—
Reno-sparks Indian Colody A Tr
Ldm Enterprises LLC
Grant Deed
related
—
Apr 15, 1998
$525,000
Ldm Enterprises LLC
Wells Fargo Bank
Grant Deed
—
—
—
Ldm Enterprises LLC
—
Deed Of Trust
related
$400,000 · Wells Fargo Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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