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Property profile & analytics
OFF-MARKET
Estimated value
$1,025,000
Grocery and convenience stores
240 Ct St Reno, NV 89501-1808
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US62-0308028
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,116 SF
Lot
0.21 ac (9,104 SF)
Zoning code
MDRD
APN
011-161-01
UPID
US62-0308028
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
-
Great Basin Community Food Co-op Restaurant
-
Foodshed Cafe Restaurant
-
dropp Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$995k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.03M
Owner & transaction history
Drellicks LLC · 9 yrs held
Drellicks LLC
since 2017
7 recorded transactions
Zoning & alternative use
MDRD · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.7M
+28.4%
Office building
$1.4M
+4.4%
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%
$1,080,000
6.5%
$995,000
7%
$925,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,315,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,690,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$1,375,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$1.03M
Range $923k – $1.13M · ±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
$200 / 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
$8,750
Tax year 2023
Assessed value
$230,749
Assessed 2023
Previous assessed
$187,515
+23.1% YoY
Effective rate
3.79%
On assessed value
Assessed land
$74,848
Assessed improvement
$155,901
Land market value
$213,850
Improvement market value
$445,432
Total market value
$659,282
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
5,116 SF
Lot
0.21 ac (9,104 SF)
Zoning code
MDRD
APN
011-161-01
UPID
US62-0308028
Jurisdiction
WASHOE
Zoning & alternative use
MDRD · Reno, NV
Zoning MDRD · permitted uses
MDRD · 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
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.4M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Drellicks LLC
Entity
Mailing address
710 ROBIN ST, RENO, NV 89509-1239
Ownership since
2017
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
Nov 30, 2023
—
Drellicks LLC
—
Deed
related
$325,000 · Umpqua Bank
Jan 2, 2020
—
Drellicks LLC
—
Deed
related
$1,420,000 · Umpqua Bank
Jan 27, 2017
$1,450,000
Drellicks LLC
Tsrc Properties Ltd
Grant Deed
$1,400,000 · Tsrc Properties Ltd
Jul 12, 2010
—
Tsrc Properties Ltd
Beasley Trust
Deed In Lieu Of Foreclosure
related
—
Jan 4, 2008
$875,000
Beasley Trust
Tsrc Properties Ltd
Grant Deed
$700,000 · Tsrc Properties Ltd
May 9, 2003
$645,900
Tsrc Properties Ltd
Thomas,mark E & Dorlisa H
Grant Deed
—
Jun 14, 2001
$565,000
Mark E Thomas
Sierra Arts Foundation
Grant Deed
$174,202 · First Independent Bank Nevada
Nov 29, 1988
$450,000
Sierra Arts Foundation
Unknown
Grant Deed
—
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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