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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Commercial real estate
1987 Old Hot Spgs Rd Carson City, NV 89706-0674
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US62-0518262
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2003
Total area
2,823 SF
Lot
0.44 ac (19,166 SF)
Zoning code
LI
APN
008-921-10
UPID
US62-0518262
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
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$477k
Blend (final)
Blend
$540k
Owner & transaction history
Shepard & Hardiman LLC · 5 yrs held
Shepard & Hardiman LLC
since 2020
Last sale
$565,000
7 recorded transactions
Zoning & alternative use
LI · Carson City, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$550,000
+97.6%
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 Carson City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carson City 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
$585,000
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$550,000
Change: +98% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $565k (Jun 19 2025)
Last sale anchor
$565k
Jun 19 2025
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
$191 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$7,037
Tax year 2024
Assessed value
$226,654
Assessed 2024
Previous assessed
$182,467
+24.2% YoY
Effective rate
3.10%
On assessed value
Assessed land
$80,499
Assessed improvement
$146,155
Land market value
$229,997
Improvement market value
$417,587
Total market value
$647,584
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2003
Heating
YES
Cooling
YES
Stories
1
Total area
2,823 SF
Lot
0.44 ac (19,166 SF)
Zoning code
LI
APN
008-921-10
UPID
US62-0518262
Jurisdiction
CARSON CITY
Zoning & alternative use
LI · Carson City, NV
Zoning LI · permitted uses
LI · Carson City, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Carson City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$550,000
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
2003
Heating
YES
Cooling
Yes
Stories
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Shepard & Hardiman LLC
Entity
Mailing address
2323 N CARSON ST, CARSON CITY, NV 89706-1622
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2020
—
Shepard & Hardiman LLC
Assemblies Of God Ln Fund
Grant Deed
$382,500 · Private Individual
Jun 5, 2019
$2,000,000
Assemblies Of God Ln Fund
First American Title Insu|capital Christian Center
Trustees Deed
related
—
Jun 2, 2018
—
Redemption Church
Capital Christian Center
Quit Claim Deed
related
—
Mar 29, 2012
—
Capital Christian Center
—
Deed Of Trust
related
$5,659,000 · Assemblies Of God Fin'l Svcs
Jul 7, 2005
$625,000
Capital Christian Center
E & N LLC
Grant Deed
related
$633,270 · Assemblies Of God Fin'l Svcs
Jul 22, 2002
$153,640
E & N LLC
North Point LLC
Grant Deed
$250,000 · Heritage Bank Nevada
—
—
Capital Christian Center
—
Deed Of Trust
related
$5,275,000 · Assemblies Of God Fin'l Svcs
—
—
E & N LLC
—
Deed Of Trust
related
$182,000 · Nevada State Development Corp
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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