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Property profile & analytics
OFF-MARKET
Estimated value
$2,120,000
Industrial properties
255 Distribution Dr C203 Sparks, NV 89441-5217
Individually Owned
5-yr Hold
Free & Clear
Property ID
US62-0226796
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2007
Construction
WOOD
Total area
2,605 SF
Lot
0.06 ac (2,605 SF)
Zoning code
I
APN
538-190-06
UPID
US62-0226796
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
-
Rapid Rooter Plumbing Service General Contractor
-
Computer & Electronic Services Electronics & Wireless Store
-
Custom Imprints Plus Marketing & Advertising
-
EC Applications (Reno Office) Department Store
-
DC Audio LLC Electronics & Wireless Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.12M
Owner & transaction history
Joseph S Lanza · 5 yrs held
Joseph S Lanza
since 2021
Last sale
$2.1M
5 recorded transactions
Zoning & alternative use
I · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.0M
+83.9%
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 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
$2,225,000
ML approach
$2,165,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,980,000
Change: +84% · Conversion: Difficult
Blend value · Realmo final
$2.12M
Range $1.91M – $2.33M · ±10% · vs last sale $2.05M (Apr 19 2021)
Last sale anchor
$2.05M
Apr 19 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
$814 / 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
$1,416
Tax year 2023
Assessed value
$93,938
Assessed 2023
Previous assessed
$73,519
+27.8% YoY
Effective rate
1.51%
On assessed value
Assessed land
$36,470
Assessed improvement
$57,468
Land market value
$104,200
Improvement market value
$164,193
Total market value
$268,393
Applied tax rate
4,000.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2007
Construction
WOOD
Heating
SPACE
Cooling
YES
Stories
1
Units
1
Total area
2,605 SF
Lot
0.06 ac (2,605 SF)
Zoning code
I
APN
538-190-06
UPID
US62-0226796
Jurisdiction
WASHOE
Zoning & alternative use
I · Sparks, NV
Zoning I · permitted uses
I · 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
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
2007
Construction
WOOD
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Joseph S Lanza
Individual
Free & Clear · 5 yrs held
Mailing address
PO BOX 2311, TAHOE CITY, CA 96146-2311
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2021
—
Joseph S Lanza
Joseph S Lanza
Intrafamily Transfer
related
—
Jul 27, 2018
$2,050,000
Lanza Of Miller & Rivlin
Retirement Fund Kic
Grant Deed
$1,734,476 · Barry Rivlin
Jul 27, 2018
—
Joseph S Lanza
Lanza,joyce
Quit Claim Deed
related
—
Jul 8, 2008
$1,858,516
Retirement Fund Kic
Allied Foreclosure Svcs
Trustees Deed
related
—
Jun 29, 2007
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
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.
Try Rey
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