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Property profile & analytics
FOR LEASE
Casinos
2111 Victorian Ave Sparks, NV 89431
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US62-0471666
For Lease
1 / 2
$1,880,000
2111 Victorian Ave, Sparks, NV 89431
View Listing →
Property profile
Verified
Property type
Casinos
Use group
CASINO
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
60,832 SF
Lot
7.59 ac (330,620 SF)
Zoning code
MUD
APN
032-031-15
UPID
US62-0471666
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
$1.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.45M
Blend (final)
Blend
$1.88M
Owner & transaction history
Plantation Investments INC · 18 yrs held
Plantation Investments INC
since 2007
7 recorded transactions
Zoning & alternative use
MUD · Sparks, 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 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
$1,310,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CASINO
$2,235,000
Current use
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±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
$31 / 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
$97,578
Tax year 2023
Assessed value
$2,905,238
Assessed 2023
Previous assessed
$2,459,747
+18.1% YoY
Effective rate
3.36%
On assessed value
Assessed land
$989,380
Assessed improvement
$1,915,858
Land market value
$2,826,801
Improvement market value
$5,473,879
Total market value
$8,300,680
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
Casinos
Use group
CASINO
Status
For Lease
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Total area
60,832 SF
Lot
7.59 ac (330,620 SF)
Zoning code
MUD
APN
032-031-15
UPID
US62-0471666
Jurisdiction
WASHOE
Zoning & alternative use
MUD · Sparks, NV
Zoning MUD · permitted uses
MUD · 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
CASINO Current
Est. value
$2.2M
CASINO Current
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Lot
7.59 ac
Current owner
From public records · entity-resolved
Plantation Investments INC
Entity
Mailing address
2121 VICTORIAN AVE, SPARKS, NV 89431-4130
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2024
—
Plantation Investments LLC
—
Deed
related
$120,000 · Umpqua Bank
Apr 27, 2021
—
Plantation Investments LLC
—
Deed
related
$100,000,000 · Goldman Sachs Bank USA
Mar 20, 2017
—
Plantation Investments LLC
—
Grant Deed
related
$145,000,000 · Citizens Bk
Mar 1, 2017
—
Plantation Investments LLC
—
Grant Deed
related
$780,000,000 · Credit Suisse Ag Cayman Iss Br
Oct 2, 2007
—
Plantation Investments INC
Plantation Invs INC
Quit Claim Deed
related
—
Sep 6, 2007
—
Plantation Investments INC
—
Deed Of Trust
related
$250,000,000 · Bank Of America
Feb 23, 2007
—
Owner Name Unavailable
Plantation Invs INC
Grant Deed
related
—
May 3, 2004
—
Plantation Investments INC
—
Deed Of Trust
related
$44,000,000 · Wells Fargo Bank
Sep 5, 2003
—
Plantation Investments INC
—
Deed Of Trust
related
$100,000,000 · Bank Of America NA Trustee
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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