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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Medical Office Space
2395 Prater Way Sparks, NV 89434-9641
Entity Owned
37-yr Hold
Free & Clear
Property ID
US62-0320082
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,970 SF
Lot
1.03 ac (44,954 SF)
Zoning code
PO
APN
037-320-11
UPID
US62-0320082
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
$665k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$655k
Owner & transaction history
Sparks Family Hospital INC · 37 yrs held
Sparks Family Hospital INC
since 1989
3 recorded transactions
Zoning & alternative use
PO · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
PO district provides office uses in the urbanized area, particularly in the vicinity of clinics, hospitals, commercial activities and major streets. This also provides a transitional land use between single family and commercial land uses.
Zone name
Professional Office
General category
CIVIC_INSTITUTIONAL
Zone area
87.12 ac
Source
Realmo
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%
$720,000
6.5%
$665,000
7%
$620,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,040,000
Current use
COMMERCIAL (GENERAL)
$1,030,000
Change: -1% · Conversion: Easy
RETAIL STORES
$905,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$655k
Range $590k – $721k · ±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
$221 / 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
$11,104
Tax year 2023
Assessed value
$319,522
Assessed 2023
Previous assessed
$280,624
+13.9% YoY
Effective rate
3.48%
On assessed value
Assessed land
$104,630
Assessed improvement
$214,892
Land market value
$298,944
Improvement market value
$613,976
Total market value
$912,920
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
2,970 SF
Lot
1.03 ac (44,954 SF)
Zoning code
PO
APN
037-320-11
UPID
US62-0320082
Jurisdiction
WASHOE
Zoning & alternative use
PO · Sparks, NVZoning PO · permitted uses
PO · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
PO district provides office uses in the urbanized area, particularly in the vicinity of clinics, hospitals, commercial activities and major streets. This also provides a transitional land use between single family and commercial land uses.
Zone name
Professional Office
General category
CIVIC_INSTITUTIONAL
Zone area
87.12 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES
Est. value
$905,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Sparks Family Hospital INC
Entity
Free & Clear · 37 yrs held
Mailing address
6200 UTSA BLVD #2, SAN ANTONIO, TX 78249-1617
Ownership since
1989
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2013
—
Sparks Family Hospital INC
—
Deed Of Trust
related
$900,000,000 · J P Morgan Chase Bank
Mar 3, 1989
$70,875
Sparks Family Hospital INC
Unknown
Grant Deed
—
—
—
Sparks Family Hospital INC
—
Deed Of Trust
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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