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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2542 Ruby Vis Dr Elko, NV 89801-1652

    • Hotels
    • 57,884 SF
    • 2.00 lot acres
    OFF-MARKET
    Value Estimations
    $5,240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0929777
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Holiday Inn Express & Suites Elko, an IHG Hotel / Hotel & Motel

    Property Details for 2542 Ruby Vis Dr

    Year built
    2019
    Lot size
    2.00 lot acres
    Property size
    57,884 SF
    Zone code
    ZC
    Property type
    Hotels
    APN
    001-564-042
    APU
    1564042

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,525,000
      6.5%
      $5,100,000
      7%
      $4,735,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,103,000
      Market price range: $987k - $5.10M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $6,930,000
      Current use
      COMMERCIAL (GENERAL)
      $7,525,000
      Change: +9% Conversion: Difficult
      WAREHOUSE, STORAGE
      $7,460,000
      Change: +8% Conversion: Difficult
      RETAIL STORES
      $7,030,000
      Change: +1% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Elko
    County
    Elko
    State
    Nevada
    Longitude
    -115.749
    Latitude
    40.8549
    CBSA code
    21220
    CBSA name
    ELKO, NV MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $124,640
    $99,173
    $3,544,486
    $3,643,659
    -
    $283,351
    $10,127,103
    $10,410,454

    Comparable in this City

    • Value Estimation
      $4,575,000
      53,002 SF

      3650 Idaho St

      HOTEL • 53,002 SF
      3650 Idaho St, Elko, NV 89801-4649
      View Details
    • Value Estimation
      $4,480,000
      49,124 SF

      2585 Jennings Way

      HOTEL • 49,124 SF
      2585 Jennings Way, Elko, NV 89801-7975
      View Details
    • Value Estimation
      $4,995,000
      54,982 SF

      2572 Jennings Way

      HOTEL • 54,982 SF
      2572 Jennings Way, Elko, NV 89801-7975
      View Details
    • Value Estimation
      $5,580,000
      96,480 SF

      3015 Idaho St

      HOTEL • 96,480 SF
      3015 Idaho St, Elko, NV 89801-4604
      View Details
    • Value Estimation
      $1,735,000
      7,168 SF

      3021 Idaho St

      HOTEL/MOTEL • 7,168 SF
      3021 Idaho St, Elko, NV 89801-4604
      View Details
    • Value Estimation by Request
      7,774 SF

      132 3rd St

      HOTEL/MOTEL • 7,774 SF
      132 3rd St, Elko, NV 89801-3671
      View Details

    Similar Nearby for Sale

    • $1,800,000
      25,593 SF

      Stay Express Inn: Elko, NV

      Profitable Hotel, Recently Renovated
      1349 Idaho St, Elko, NV 89801
      View Details
    • Contact for pricing
      1.13 Acres

      Land Near Elko, Nevada

      1.13 acre land parcel near Elko, Nevada.
      066020005 Blue Rdg St, Elko, NV 89801
      View Details
    • $900,000
      5,000 SF

      Elko Commercial Building - Prime Location

      Versatile 5,000 sq ft commercial space, great income potential.
      1750 Manzanita Ln, Elko, NV 89801
      View Details
    • $185,000
      5.86 Acres

      Residential Land in Elko County

      Residential lots available in Schmidt's Creek Development, Elko, Nevada.
      3 Way Katharine's, Elko, NV 89801
      View Details
    • $180,000
      3.64 Acres

      Residential Land in Elko County

      Residential lots available in Schmidt's Creek Development, Elko County.
      9 Way Amaya's, Elko, NV 89801
      View Details
    • $100,000
      0.28 Acres

      Elko Nevada Land Opportunity

      Three adjacent parcels available in Elko, Nevada.
      200 Water St, Elko, NV 89801
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,700 SF

      Elko Retail Space Available

      Commercial space for lease on Idaho Street in Elko, Nevada.
      174 Idaho St, Elko, NV 89801
      View Details
    • Contact for pricing
      7,132 SF

      New Development Warehouse Space Available

      7,132 SF warehouse space for lease in Elko, NV.
      177 Walters Ct, Elko, NV 89801
      View Details
    • $4,000 /Mo

      New Industrial Buildings For Lease

      New industrial buildings with flexible suites available for lease.
      177 Walters Ct S, Elko, NV 89801
      View Details
    • Contact for pricing
      2,520 SF

      Elko Medical Office Space

      Well-maintained 2,520 SF medical office space for lease.
      2719 Argent Ave, Elko, NV 89801
      View Details
    • Contact for pricing
      1,250 SF

      Elko Office Suite For Rent

      Office suite in multi-tenant building with executive offices and conference area.
      102 N 5Th St, Elko, NV 89801
      View Details
    • Contact for pricing
      2,400 SF

      Elko Warehouse with Alley Access

      2400 SF warehouse with pull-through access in Elko, NV.
      729 Douglas St, Elko, NV 89801
      View Details
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    Elko, NV 89801-1652
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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