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Property profile & analytics
OFF-MARKET
Estimated value
$5,110,000
Medical Office Space
21 Locust St Reno, NV 89502-1316
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0366599
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
23,670 SF
Lot
0.85 ac (36,820 SF)
Zoning code
MU
APN
012-072-25
UPID
US62-0366599
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
-
The Healthcare Center Medical Clinic
-
Healthcare Center: Zsikla Suzanne MD Physician
-
Derek Izo Mito, MD Pediatrician Physician
-
Brian James Mccormack, MD Pediatrician Physician
-
Kristen Marshall, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.39M
CAP Approach
CAP
$5.66M
Comparable Approach
Comparable
$6.42M
Blend (final)
Blend
$5.11M
Owner & transaction history
Dakeson Management LLC · 4 yrs held
Dakeson Management LLC
since 2021
Last sale
$3.9M
1 recorded transaction
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Reno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reno 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
$5,330,000
ML approach
$5,390,000
CAP Approach
CAP Return
Estimation
6%
$6,130,000
6.5%
$5,655,000
7%
$5,250,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$8,260,000
Current use
APARTMENT HOUSE (5+ UNITS)
$7,815,000
Change: -5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,570,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$5.11M
Range $4.60M – $5.62M · ±10% · vs last sale $3.93M (Sep 30 2021)
Last sale anchor
$3.93M
Sep 30 2021
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
$216 / 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
$34,324
Tax year 2023
Assessed value
$923,289
Assessed 2023
Previous assessed
$786,389
+17.4% YoY
Effective rate
3.72%
On assessed value
Assessed land
$202,970
Assessed improvement
$720,319
Land market value
$579,915
Improvement market value
$2,058,054
Total market value
$2,637,969
Applied tax rate
1,002.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
23,670 SF
Lot
0.85 ac (36,820 SF)
Zoning code
MU
APN
012-072-25
UPID
US62-0366599
Jurisdiction
WASHOE
Zoning & alternative use
MU · Reno, NV
Zoning MU · permitted uses
MU · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$8.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.8M
AUTO REPAIR, GARAGE
Est. value
$7.6M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.85 ac
Current owner
From public records · entity-resolved
Dakeson Management LLC
Entity
Mailing address
1475 TERMINAL WAY STE A, RENO, NV 89502-3432
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2021
$3,925,000
Dakeson Management LLC
America West Properties
Bargain And Sale Deed
$1,800,000 · America West Properties
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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