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Property profile & analytics
OFF-MARKET
Estimated value
$2,390,000
Warehouses
2272 Larkin Cir Sparks, NV 89431-6500
Individually Owned
17-yr Hold
~
Est. High Equity
Property ID
US62-0092097
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
METAL FRAME
Total area
20,402 SF
Lot
7.08 ac (308,492 SF)
Zoning code
I
APN
034-171-33
UPID
US62-0092097
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
-
Peterbilt Truck Parts & Equipment Car Dealership
-
Truck Parts & Equipment Co Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.47M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.39M
Owner & transaction history
John B Phillips · 17 yrs held
John B Phillips
since 2009
7 recorded transactions
Zoning & alternative use
I · 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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,675,000
6.5%
$2,470,000
7%
$2,290,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,255,000
Current use
Blend value · Realmo final
$2.39M
Range $2.15M – $2.63M · ±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
$117 / 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
$86,271
Tax year 2023
Assessed value
$2,522,198
Assessed 2023
Previous assessed
$1,410,793
+78.8% YoY
Effective rate
3.42%
On assessed value
Assessed land
$701,819
Assessed improvement
$1,820,379
Land market value
$2,005,198
Improvement market value
$5,201,082
Total market value
$7,206,280
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Construction
METAL FRAME
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
20,402 SF
Lot
7.08 ac (308,492 SF)
Zoning code
I
APN
034-171-33
UPID
US62-0092097
Jurisdiction
WASHOE
Zoning & alternative use
I · Sparks, NV
Zoning I · permitted uses
I · 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
WAREHOUSE, STORAGE Current
Est. value
$3.3M
WAREHOUSE, STORAGE 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
1990
Construction
METAL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
7.08 ac
Current owner
From public records · entity-resolved
John B Phillips
Individual
Mailing address
2272 LARKIN CIR, SPARKS, NV 89431-6500
Ownership since
2009
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
Feb 4, 2019
—
Phillips Living Trust
—
Deed
related
$3,512,200 · Wells Fargo Bk
Feb 1, 2011
—
Phillips Living Trust
—
Deed Of Trust
related
$5,555,804 · Wells Fargo Bank
Mar 20, 2009
$4,000,000
John B Phillips
Bmc West Corporation
Bargain And Sale Deed
$6,000,000 · Wells Fargo Bank NA
Feb 12, 2001
$2,200,000
Bmc West Corp
Holco INC
Grant Deed
—
Jan 28, 1994
—
Logan Lumber Co
Logan Lumber Co
Quit Claim Deed
related
—
—
—
Phillips Living Trust
—
Loan Modification
related
$3,512,200 · Wells Fargo Bk
—
—
Phillips Living Trust
—
Loan Modification
related
$6,850,000 · Wells Fargo Bk
—
—
Logan Lumber Co
—
Deed Of Trust
related
$980,000 · West One Bank Idaho
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.
Try Rey
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