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Property profile & analytics
OFF-MARKET
Estimated value
$3,105,000
Industrial properties
255 Bell St Reno, NV 89503-5352
Entity Owned
4-yr Hold
Free & Clear
Property ID
US62-1244587
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,400 SF
Lot
0.35 ac (15,400 SF)
Zoning code
MDNWQ
APN
011-017-11
UPID
US62-1244587
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
-
Forsaken River Spirits Brewery & Distillery Bar & Pub
-
Cloud of Goods (Bike/Boat/Book/etc) Store Rental Equipment Company
-
Church Alive Church
-
Destiny Christian Center Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.54M
Blend (final)
Blend
$3.11M
Owner & transaction history
Reno Real Estate Development LLC · 4 yrs held
Reno Real Estate Development LLC
since 2021
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
MDNWQ · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.1M
+29.4%
Office building
$4.1M
+3.9%
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
$3,340,000
ML approach
$3,445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,930,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,085,000
Change: +29% · Conversion: Difficult
OFFICE BUILDING
$4,085,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$3.11M
Range $2.79M – $3.42M · ±10% · vs last sale $3.10M (Dec 30 2021)
Last sale anchor
$3.10M
Dec 30 2021
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
$202 / 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
$9,208
Tax year 2023
Assessed value
$246,124
Assessed 2023
Previous assessed
$204,008
+20.6% YoY
Effective rate
3.74%
On assessed value
Assessed land
$83,545
Assessed improvement
$162,579
Land market value
$238,700
Improvement market value
$464,512
Total market value
$703,212
Applied tax rate
1,001.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
YES
Stories
1
Units
1
Total area
15,400 SF
Lot
0.35 ac (15,400 SF)
Zoning code
MDNWQ
APN
011-017-11
UPID
US62-1244587
Jurisdiction
WASHOE
Zoning & alternative use
MDNWQ · Reno, NV
Zoning MDNWQ · permitted uses
MDNWQ · 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
INDUSTRIAL (GENERAL) Current
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.1M
OFFICE BUILDING
Est. value
$4.1M
INDUSTRIAL (GENERAL) 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
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Reno Real Estate Development LLC
Entity
Free & Clear · 4 yrs held
Mailing address
12596 W BAYAUD AVE STE #100, LAKEWOOD, CO 80228-2035
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2022
—
Reno Real Estate Development LLC
—
Deed
related
$1,000,000 · Capital One Bank NA
Dec 30, 2021
$3,100,000
Reno Real Estate Development LLC
Bell St INC
Bargain And Sale Deed
—
Dec 28, 2017
—
Bell St INC
Morgenthaler F W Trust
Grant Deed
—
Mar 3, 2015
—
Morgenthaler,john R Tr
Morgenthaler Frederick W
Affidavit Of Death
related
—
Feb 9, 2005
$910,000
Morgenthaler Frederick W Trust
Palm Springs Transfer & Storag
Grant Deed
—
Sep 5, 1997
$985,000
Palm Springs Transfer
Handke Family LP
Grant Deed
$680,000 · Comstock Bank
Feb 27, 1997
—
Handke Family LP
Handke Trust
Quit Claim Deed
related
—
Feb 6, 1997
$650,000
Handke Trust
Jpi Ix LP
Grant Deed
$260,000 · Seller
Aug 12, 1994
$345,000
Jpi Ix LP
Bally Gaming INC
Trustees Deed
$258,750 · Seller
Aug 12, 1994
—
Bally Destributin Co
Cavanaugh,john E
Trustees Deed
related
—
—
—
Handke Family LP
—
Deed Of Trust
related
$130,000 · Pioneer Citizens Bank Nevada
—
—
Springs Transfer Palm
—
Deed Of Trust
related
$6,000 · Bill Kearney
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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