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Property profile & analytics
OFF-MARKET
Estimated value
$5,410,000
Office buildings
2195 Virginia St Reno, NV 89502-3415
Entity Owned
~
Est. High Equity
Property ID
US62-0574258
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,517 SF
Lot
0.4 ac (17,423 SF)
Zoning code
MU
APN
019-550-08
UPID
US62-0574258
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
-
Art Source Fine Art Gallery & Custom Framing Theater & Performing Art Venue
-
Wilbur D. May Arboretum Greenhouse Garden Center Landscaping
-
Reno Custom Framing Center (Bike/Boat/Book/etc) Store Home Decor Store
-
Archie's Giant Hamburgers & Breakfast Restaurant
-
Landscapers - Reno, NV Landscaping
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.48M
CAP Approach
CAP
$7.40M
Comparable Approach
Comparable
$5.74M
Blend (final)
Blend
$5.41M
Owner & transaction history
Jcp Reno Virginia LLC
Jcp Reno Virginia LLC
since 2025
Last sale
$5.4M
7 recorded transactions
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.9M
+54.8%
Apartment house (5+ units)
$8.4M
+46.4%
Auto repair, garage
$8.2M
+41.9%
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
$7,135,000
ML approach
$7,475,000
CAP Approach
CAP Return
Estimation
6%
$8,020,000
6.5%
$7,400,000
7%
$6,875,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,755,000
Current use
MEDICAL BUILDING
$8,905,000
Change: +55% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$8,425,000
Change: +46% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,160,000
Change: +42% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$7,030,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$5.41M
Range $4.87M – $5.95M · ±10% · vs last sale $5.35M (May 11 2025)
Last sale anchor
$5.35M
May 11 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
$212 / 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
$33,891
Tax year 2023
Assessed value
$1,161,293
Assessed 2023
Previous assessed
$976,766
+18.9% YoY
Effective rate
2.92%
On assessed value
Assessed land
$121,961
Assessed improvement
$1,039,332
Land market value
$348,460
Improvement market value
$2,969,519
Total market value
$3,317,979
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
25,517 SF
Lot
0.4 ac (17,423 SF)
Zoning code
MU
APN
019-550-08
UPID
US62-0574258
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
OFFICE BUILDING Current
Est. value
$5.8M
MEDICAL BUILDING
Est. value
$8.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.4M
AUTO REPAIR, GARAGE
Est. value
$8.2M
INDUSTRIAL (GENERAL)
Est. value
$7.0M
OFFICE BUILDING Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
INDUSTRIAL (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
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Jcp Reno Virginia LLC
Entity
Mailing address
4727 CTR ST, OMAHA, NE 68106-3344
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2025
$5,350,000
Jcp Reno Virginia LLC
Reno Community Health Center LLC
Warranty Deed
$6,690,000 · Bell Bank
Dec 28, 2022
$6,400,000
Reno Community Health Center LLC
Rfg Pinecone LLC
Bargain And Sale Deed
$5,120,000 · Alva State Bank & Trust Co
May 31, 2019
$4,050,000
Rfg-pinecone LLC
Cip R/e So Virginia LLC
Grant Deed
—
Oct 11, 2013
$1,825,000
Cip R & E So Virginia LLC
Fnbn Va Lake Crossing LLC
Grant Deed
—
Apr 29, 2010
—
Fnbn Va Lake Crossing LLC
Virginia Lake Crossing Ad LLC
Deed In Lieu Of Foreclosure
related
—
Apr 20, 2007
—
Fnbn Virginia Ll Crossing LLC
Virginia Lake Crossing LLC
Quit Claim Deed
related
—
Jan 18, 2007
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
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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