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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Motels
238 Ml St Reno, NV 89501-1594
Individually Owned
20-yr Hold
~
Est. High Equity
Property ID
US62-1273298
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,240 SF
Lot
0.34 ac (14,767 SF)
Zoning code
MDRD
APN
011-125-13
UPID
US62-1273298
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
-
Mill Place Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$535k
CAP Approach
CAP
$815k
Comparable Approach
Comparable
$682k
Blend (final)
Blend
$675k
Owner & transaction history
Brenda B Nance · 20 yrs held
Brenda B Nance
since 2006
7 recorded transactions
Zoning & alternative use
MDRD · 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
$535,000
CAP Approach
CAP Return
Estimation
6%
$880,000
6.5%
$815,000
7%
$755,000
Blend value · Realmo final
$675k
Range $608k – $743k · ±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
$73 / 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
$11,972
Tax year 2023
Assessed value
$476,477
Assessed 2023
Previous assessed
$383,566
+24.2% YoY
Effective rate
2.51%
On assessed value
Assessed land
$385,000
Assessed improvement
$91,477
Land market value
$1,100,000
Improvement market value
$261,363
Total market value
$1,361,363
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Stories
2
Units
44
Total area
9,240 SF
Lot
0.34 ac (14,767 SF)
Zoning code
MDRD
APN
011-125-13
UPID
US62-1273298
Jurisdiction
WASHOE
Zoning & alternative use
MDRD · Reno, NVZoning MDRD · permitted uses
MDRD · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Stories
2
Units
44
Lot
0.34 ac
Current owner
From public records · entity-resolved
Brenda B Nance
Individual
Mailing address
1471 GREG ST, SPARKS, NV 89431-5914
Ownership since
2006
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
Mar 8, 2021
—
Mill Place Apartments LLC
—
Deed
related
$685,000 · Mountain America FCU
Jul 31, 2006
$1,550,000
Brenda B Nance
Wagner,bradley M
Grant Deed
—
Jul 31, 2006
—
Mill Place Apartments LLC
Brenda Burt Nance
Bargain And Sale Deed
$1,007,500 · Northern Nevada Bank
Mar 10, 2006
$1,050,000
Bradley M Wagner
Northern Nv Cmnty Hsng Researc
Grant Deed
$682,500 · Nevada Security Bank
Jun 14, 1996
$1,050,000
Northern Nv Community Housing
Baker,robert L & Sonya R
Grant Deed
$800,000 · Nevada Community Reinvestment
Jun 20, 1994
$905,000
Robert L Baker
B & T Associates
Grant Deed
$678,000 · First Western Bank
—
—
Mill Place Apartments LLC
—
Deed Of Trust
related
$850,000 · Mountain America FCU
—
—
Nv Cmnty Hsng Rsrc Bo Northern
—
Deed Of Trust
related
$61,192 · Washoe County Home Consortium
—
—
Mill Place Apartments LLC
—
Deed Of Trust
related
—
—
—
Bradley M Wagner
—
Deed Of Trust
related
$400,000 · Francisco A Diaz
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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