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Property profile & analytics
OFF-MARKET
Estimated value
$2,870,000
Parking lots & garages
2985 Virginia St Reno, NV 89502
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US62-0433978
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2006
Construction
FRAME
Total area
591,000 SF
Lot
5.46 ac (237,838 SF)
Zoning code
MU
APN
019-321-29
UPID
US62-0433978
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.87M
Owner & transaction history
Peppermill Casinos INC · 6 yrs held
Peppermill Casinos INC
since 2019
6 recorded transactions
Zoning & alternative use
MU · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$5 / 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
$341,412
Tax year 2023
Assessed value
$9,325,159
Assessed 2023
Previous assessed
$9,499,438
-1.8% YoY
Effective rate
3.66%
On assessed value
Assessed land
$998,920
Assessed improvement
$8,326,239
Land market value
$2,854,056
Improvement market value
$23,789,254
Total market value
$26,643,310
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2006
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
5
Units
1
Total area
591,000 SF
Lot
5.46 ac (237,838 SF)
Zoning code
MU
APN
019-321-29
UPID
US62-0433978
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.
Building & site characteristics
From public records
Year built
2006
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
5
Units
1
Lot
5.46 ac
Current owner
From public records · entity-resolved
Peppermill Casinos INC
Entity
Mailing address
2707 S VIRGINIA ST, RENO, NV 89502-4213
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2019
—
Peppermill Casinos INC
Wells Fargo Bk NA
Loan Modification
related
$625,000,000 · Us Bk
Aug 10, 2017
—
Peppermill Casinos INC
—
Loan Modification
related
$1,275,000,000 · Wells Fargo Bk
Nov 1, 2016
—
Peppermill Casinos INC
—
Deed
related
$635,000,000 · Wells Fargo Bk
Nov 9, 2012
—
Peppermill Casinos INC
—
Deed Of Trust
related
$610,000,000 · Wells Fargo Bank
Jun 21, 2006
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
—
—
Peppermill Casinos INC
—
Loan Modification
related
$635,000,000 · Wells Fargo Bk
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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