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Property profile & analytics
OFF-MARKET
Estimated value
$1,645,000
Medical Office Space
2859 Northtowne Ln Reno, NV 89512-2058
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US62-0431792
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,968 SF
Lot
1.21 ac (52,620 SF)
Zoning code
GC
APN
026-182-71
UPID
US62-0431792
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
-
Sanders Towing Co. Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.67M
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.65M
Owner & transaction history
Northtowne LLC · 21 yrs held
Northtowne LLC
since 2004
3 recorded transactions
Zoning & alternative use
GC · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,805,000
6.5%
$1,665,000
7%
$1,545,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,430,000
Current use
AUTO REPAIR, GARAGE
$2,345,000
Change: -4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,300,000
Change: -5% · Conversion: Moderate
OFFICE BUILDING
$1,970,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.65M
Range $1.48M – $1.81M · ±10%
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
$236 / 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
$22,575
Tax year 2023
Assessed value
$648,554
Assessed 2023
Previous assessed
$570,667
+13.6% YoY
Effective rate
3.48%
On assessed value
Assessed land
$257,838
Assessed improvement
$390,716
Land market value
$736,680
Improvement market value
$1,116,331
Total market value
$1,853,011
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
6,968 SF
Lot
1.21 ac (52,620 SF)
Zoning code
GC
APN
026-182-71
UPID
US62-0431792
Jurisdiction
WASHOE
Zoning & alternative use
GC · Reno, NV
Zoning GC · permitted uses
GC · 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
MEDICAL BUILDING Current
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.0M
MEDICAL BUILDING Current
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
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.21 ac
Current owner
From public records · entity-resolved
Northtowne LLC
Entity
Free & Clear · 21 yrs held
Mailing address
855 W BROAD ST STE #300, BOISE, ID 83702-7154
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2004
—
Northtowne LLC
Hawkins-smith Reno A
Grant Deed
related
—
Dec 28, 1994
—
Reno A Hawkins-smith
Hawkins-smith
Quit Claim Deed
related
$3,767,300 · John Alden Life Insurance
—
—
Northtowne LLC
—
Deed Of Trust
related
$4,100,000 · Thrivent Financial For Luthera
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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