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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Hotels
2500 2nd St 2434 Reno, NV 89595-1200
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US62-0456368
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1978
Construction
STEEL FRAME
Total area
1,935 SF
Lot
0.04 ac (1,933 SF)
Zoning code
MU
APN
012-592-09
UPID
US62-0456368
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
-
LEX Nightclub Nightclub DJ & Entertainment
-
Grand Sierra RV Park Campground & RV Park
-
Grand Bowling Center Bowling Alley
-
Yogurt Beach Cafe & Coffee Shop Take-out & Catering
-
The Grand Buffet Restaurant Buffet
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$640k
Blend (final)
Blend
$620k
Owner & transaction history
Gage Village Coml Dev LLC · 15 yrs held
Gage Village Coml Dev LLC
since 2011
7 recorded transactions
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+61.2%
Neighborhood: shopping center
$775,000
+21.5%
Medical building
$675,000
+5.6%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$640,000
Current use
COMMERCIAL (GENERAL)
$1,030,000
Change: +61% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$775,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$675,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$650,000
Change: +2% · Conversion: Difficult
OFFICE BUILDING
$515,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$320 / 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
$241
Tax year 2023
Assessed value
$30,341
Assessed 2023
Previous assessed
$27,091
+12.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$4,410
Assessed improvement
$25,931
Land market value
$12,600
Improvement market value
$74,088
Total market value
$86,688
Applied tax rate
1,002.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1978
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
27
Units
1
Total area
1,935 SF
Lot
0.04 ac (1,933 SF)
Zoning code
MU
APN
012-592-09
UPID
US62-0456368
Jurisdiction
WASHOE
Zoning & alternative use
MU · Reno, NV
Zoning MU · permitted uses
MU · 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
HOTEL/MOTEL Current
Est. value
$640,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$775,000
MEDICAL BUILDING
Est. value
$675,000
AUTO REPAIR, GARAGE
Est. value
$650,000
OFFICE BUILDING
Est. value
$515,000
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1978
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
27
Units
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
Gage Village Coml Dev LLC
Entity
Mailing address
2500 E 2ND ST, RENO, NV 89595-1200
Ownership since
2011
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
Jul 2, 2019
—
Am-gsr Holdings LLC
—
Loan Modification
related
$10,500,000 · Bank Of America
Jun 25, 2018
—
Mei-gsr Holdings LLC
—
Loan Modification
related
$95,000,000 · Bank Of America
Aug 7, 2017
—
Am-gsr Holdings LLC
—
Loan Modification
related
$53,500,000 · Bank Of America
Mar 29, 2017
—
Am-gsr Holdings LLC
—
Loan Modification
related
$75,000,000 · Bank Of America
Mar 31, 2011
$42,450,000
Gage Village Coml Dev LLC
Credit Markets R/e Corp
Grant Deed
$25,300,000 · Torrey Pines Bank
Oct 30, 2008
—
Record Owner
Owner,record
Quit Claim Deed
related
—
Jun 27, 2007
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
—
—
Mei-gsr Holdings LLC
—
Loan Modification
related
$75,000 · Bank Of America
—
—
Am-gsr Holdings LLC
—
Deed Of Trust
related
$62,000,000 · Bank Of America
—
—
Mei-gsr Holdings LLC
—
Deed Of Trust
related
$62,000,000 · Bank Of America
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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