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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Retail space
219 University Way Reno, NV 89501-1413
Entity Owned
4-yr Hold
Free & Clear
Property ID
US62-0458505
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,539 SF
Lot
0.1 ac (4,487 SF)
Zoning code
MDED
APN
011-052-35
UPID
US62-0458505
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
by Request
CAP Approach
CAP
$1.08M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$855k
Owner & transaction history
Reno City Mezzanine Borrower LLC · 4 yrs held
Reno City Mezzanine Borrower LLC
since 2022
7 recorded transactions
Zoning & alternative use
MDED · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,170,000
6.5%
$1,080,000
7%
$1,000,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,425,000
Current use
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$154 / 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
$5,584
Tax year 2023
Assessed value
$153,714
Assessed 2023
Previous assessed
$153,714
+0.0% YoY
Effective rate
3.63%
On assessed value
Assessed land
$110,250
Assessed improvement
$43,464
Land market value
$315,000
Improvement market value
$124,182
Total market value
$439,182
Applied tax rate
1,001.0000
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
7
Units
1
Total area
5,539 SF
Lot
0.1 ac (4,487 SF)
Zoning code
MDED
APN
011-052-35
UPID
US62-0458505
Jurisdiction
WASHOE
Zoning & alternative use
MDED · Reno, NV
Zoning MDED · permitted uses
MDED · 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
RETAIL STORES Current
Est. value
$1.4M
RETAIL STORES 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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
7
Units
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Reno City Mezzanine Borrower LLC
Entity
Free & Clear · 4 yrs held
Mailing address
9325 W SAHARA AVE, LAS VEGAS, NV 89117-5350
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2022
—
Reno City Mezzanine Borrower LLC
Reno City Center LLC
Bargain And Sale Deed
—
Sep 16, 2019
—
Harrahs Reno LLC
—
Deed
related
—
Apr 9, 2018
—
Ceoc LLC
—
Grant Deed
related
—
Feb 20, 2018
—
Harrahs Reno LLC
—
Grant Deed
related
—
Oct 12, 2017
—
Harrahs Reno LLC
Caesars Entertainment Operatin
Grant Deed
—
Jun 17, 2009
—
Harrahs Operating Co INC
—
Deed Of Trust
related
—
Feb 6, 2008
—
Harrahs Operating Co INC
—
Deed Of Trust
related
—
Feb 5, 2008
—
Harrahs Operating Co INC
Harrahs Club
Quit Claim Deed
related
—
Jul 3, 1995
—
Harrah's Club
Embassy Suites INC
Grant Deed
related
—
—
—
Harrahs Reno LLC
—
Loan Modification
related
—
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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