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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Medical Office Space
2415 Pyramid Way Sparks, NV 89431-2198
Entity Owned
23-yr Hold
Free & Clear
Property ID
US62-0450903
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Construction
WOOD
Total area
4,000 SF
Lot
1.59 ac (69,304 SF)
Zoning code
MF5
APN
027-281-18
UPID
US62-0450903
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
-
Smooth Finish Electrolysis Hair Salon Skin Care Clinic
-
Etavele Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$895k
Comparable Approach
Comparable
$669k
Blend (final)
Blend
$925k
Owner & transaction history
Method Art Corp · 23 yrs held
Method Art Corp
since 2002
4 recorded transactions
Zoning & alternative use
MF5 · 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%
$970,000
6.5%
$895,000
7%
$835,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,400,000
Current use
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±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
$231 / 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
$25,479
Tax year 2023
Assessed value
$758,165
Assessed 2023
Previous assessed
$688,073
+10.2% YoY
Effective rate
3.36%
On assessed value
Assessed land
$254,692
Assessed improvement
$503,473
Land market value
$727,692
Improvement market value
$1,438,495
Total market value
$2,166,187
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
1998
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
4,000 SF
Lot
1.59 ac (69,304 SF)
Zoning code
MF5
APN
027-281-18
UPID
US62-0450903
Jurisdiction
WASHOE
Zoning & alternative use
MF5 · Sparks, NV
Zoning MF5 · permitted uses
MF5 · 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
MEDICAL BUILDING Current
Est. value
$1.4M
MEDICAL BUILDING 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
1998
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
1.59 ac
Current owner
From public records · entity-resolved
Method Art Corp
Entity
Free & Clear · 23 yrs held
Mailing address
5345 KIETZKE LN STE #100, RENO, NV 89511-2088
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2002
$1,800,000
Method Art Corp
Pyramid Professional Center Lc
Grant Deed
—
Sep 12, 2000
$880,000
Pyramid Professional Center II
Richard N Beckstrand LP
Grant Deed
$4,000,000 · Zions First National Bank
Feb 13, 1998
—
Richard N Beckstrand LP
—
Deed Of Trust
related
$5,500,000 · Zions First National Bank
—
—
Method Art Corp
—
Deed Of Trust
related
$1,250,000 · Stancorp Mortgage Investors
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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