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Property profile & analytics
OFF-MARKET
Estimated value
$6,165,000
Banks
2597 Ml St Reno, NV 89502-2101
Individually Owned
1-yr Hold
Free & Clear
Property ID
US62-0416138
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
52,000 SF
Lot
1.97 ac (85,813 SF)
Zoning code
MU
APN
012-220-19
UPID
US62-0416138
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
-
B|on|c Construction Company General Contractor
-
Studio Benna Marketing & Advertising Advertising Agency
-
Benna Mountain Luxury Real Estate Agency
-
JB Benna, Benna Mountain Luxury Real Estate Agency
-
Illumined Arms Gun Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.53M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.17M
Owner & transaction history
Regional Trans Commission Of Was · 1 yrs held
Regional Trans Commission Of Was
since 2024
Last sale
$6.0M
4 recorded transactions
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.1M
+94.6%
Medical building
$7.5M
+80.4%
Auto repair, garage
$6.6M
+60.0%
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
$8,220,000
ML approach
$7,530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$4,150,000
Current use
RESTAURANT
$8,075,000
Change: +95% · Conversion: Difficult
MEDICAL BUILDING
$7,485,000
Change: +80% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,640,000
Change: +60% · Conversion: Difficult
RETAIL STORES
$4,665,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$6.17M
Range $5.55M – $6.78M · ±10% · vs last sale $6.00M (Oct 4 2023)
Last sale anchor
$6.00M
Oct 4 2023
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
$119 / 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
$39,670
Tax year 2023
Assessed value
$1,168,804
Assessed 2023
Previous assessed
$1,002,045
+16.6% YoY
Effective rate
3.39%
On assessed value
Assessed land
$330,380
Assessed improvement
$838,424
Land market value
$943,943
Improvement market value
$2,395,497
Total market value
$3,339,440
Applied tax rate
1,002.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
52,000 SF
Lot
1.97 ac (85,813 SF)
Zoning code
MU
APN
012-220-19
UPID
US62-0416138
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
FINANCIAL BUILDING Current
Est. value
$4.2M
RESTAURANT
Est. value
$8.1M
MEDICAL BUILDING
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$6.6M
RETAIL STORES
Est. value
$4.7M
FINANCIAL BUILDING Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.97 ac
Current owner
From public records · entity-resolved
Regional Trans Commission Of Was
Individual
Free & Clear · 1 yrs held
Mailing address
70 BENNINGTON CT, RENO, NV 89511-2742
Ownership since
2024
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
Nov 22, 2024
—
Regional Trans Commission Of Was
Eric Litak
Bargain & Sale Deed
—
Oct 4, 2023
$6,000,000
Eric Litak
Ckmr2 LP
Bargain And Sale Deed
$3,982,820 · Ckmr2 LP
Jun 30, 2021
$12,000,000
Ckmr2 LP
Quincy Mill Limited Partnership
Bargain And Sale Deed
—
Oct 27, 1997
—
Quincy Mill
—
Deed Of Trust
related
$3,400,000 · Business Men's Assurance Co
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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