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Property profile & analytics
OFF-MARKET
Estimated value
$4,500,000
Flex space
2605 Comstock Dr Reno, NV 89512-1306
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US62-0940337
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1950
Construction
WOOD
Total area
17,449 SF
Lot
1.71 ac (74,488 SF)
Zoning code
SF3
APN
003-362-05
UPID
US62-0940337
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
-
Historic Garfield Blessing Center Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.88M
Blend (final)
Blend
$4.50M
Owner & transaction history
Northern Nevada Homes LLC · 2 yrs held
Northern Nevada Homes LLC
since 2024
Last sale
$4.5M
7 recorded transactions
Zoning & alternative use
SF3 · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.1M
+60.3%
Neighborhood: shopping center
$7.0M
+57.4%
Medical building
$6.1M
+36.8%
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
$4,500,000
ML approach
$4,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,455,000
Current use
RESTAURANT
$7,140,000
Change: +60% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,010,000
Change: +57% · Conversion: Difficult
MEDICAL BUILDING
$6,090,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,870,000
Change: +32% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,760,000
Change: +29% · Conversion: Difficult
OFFICE BUILDING
$4,930,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$4.50M
Range $4.05M – $4.95M · ±10% · vs last sale $4.50M (May 1 2024)
Last sale anchor
$4.50M
May 1 2024
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
$258 / 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
$2,882
Tax year 2023
Assessed value
$85,259
Assessed 2023
Previous assessed
$85,259
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$82,122
Assessed improvement
$3,137
Land market value
$234,634
Improvement market value
$8,964
Total market value
$243,598
Applied tax rate
1,000.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1950
Construction
WOOD
Heating
SPACE
Stories
1
Units
1
Total area
17,449 SF
Lot
1.71 ac (74,488 SF)
Zoning code
SF3
APN
003-362-05
UPID
US62-0940337
Jurisdiction
WASHOE
Zoning & alternative use
SF3 · Reno, NV
Zoning SF3 · permitted uses
SF3 · 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
$4.5M
RESTAURANT
Est. value
$7.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.0M
MEDICAL BUILDING
Est. value
$6.1M
AUTO REPAIR, GARAGE
Est. value
$5.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.8M
OFFICE BUILDING
Est. value
$4.9M
INDUSTRIAL (GENERAL) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1950
Construction
WOOD
Heating
SPACE
Stories
1
Units
1
Lot
1.71 ac
Current owner
From public records · entity-resolved
Northern Nevada Homes LLC
Entity
Mailing address
PO BOX 8070, RENO, NV 89507-8070
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2024
$4,500,000
Northern Nevada Homes LLC
Surebrec Holdings LLC
Bargain And Sale Deed
$8,000,000 · Citizens National Bank Of Texas
May 1, 2024
—
Uvrp LLC
Robert N Fitzgerald
Bargain And Sale Deed
—
Aug 19, 2016
—
Surebec Holdings LLC
Surebec Holdings LLC
Quit Claim Deed
$450,000 · Private Individual
Mar 19, 2013
—
Cerberus Holdings LLC
Acquired Capital I LP
Grant Deed
related
—
Dec 28, 2012
$440,000
Cerberus Invs LLC
Acquired Capital I LP
Grant Deed
$324,000 · Leland Hernandez
May 9, 2011
$680,000
Acquired Capital I LP
Phil Frink & Associates
Trustees Deed
related
—
Mar 31, 2011
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Sep 25, 2003
—
Gordon E Lemich
Cricket Nevada Property Co
Quit Claim Deed
related
$800,000 · Us Bank NA
Jun 28, 2000
$875,000
Gordon E Lemich
Landon,dale R
Grant Deed
$370,800 · Roger L Erickson Trustee
Sep 30, 1988
$275,000
Megan's Glen Properties
Unknown
Grant Deed
—
—
—
Dale Landon
—
Deed Of Trust
related
$82,729 · Individual
—
—
Cerberus Holdings LLC
—
Deed Of Trust
related
$155,000 · Jackpot Trust (pt)
—
—
Gordon E Lemich
—
Deed Of Trust
related
$207,156 · Montgomery Trust
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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