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Property profile & analytics
OFF-MARKET
Estimated value
$5,475,000
Automotive properties
3223 Ml St, Reno, NV 89502-2219
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US62-1154614
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
28,274 SF
Lot
3.6 ac (156,903 SF)
Zoning code
IC
APN
012-232-18
UPID
US62-1154614
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
-
EquipmentShare (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.42M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.15M
Blend (final)
Blend
$5.48M
Owner & transaction history
Snl Iov Reno Owner LLC · 5 yrs held
Snl Iov Reno Owner LLC
since 2021
Last sale
$4.4M
6 recorded transactions
Zoning & alternative use
IC · 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
$5,990,000
ML approach
$5,420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$9,045,000
Current use
INDUSTRIAL (GENERAL)
$7,790,000
Change: -14% · Conversion: Easy
RETAIL STORES
$7,705,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$5.48M
Range $4.93M – $6.02M · ±10% · vs last sale $4.41M (May 4 2021)
Last sale anchor
$4.41M
May 4 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
$194 / 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
$35,923
Tax year 2023
Assessed value
$1,011,205
Assessed 2023
Previous assessed
$905,838
+11.6% YoY
Effective rate
3.55%
On assessed value
Assessed land
$576,585
Assessed improvement
$434,620
Land market value
$1,647,387
Improvement market value
$1,241,771
Total market value
$2,889,158
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
28,274 SF
Lot
3.6 ac (156,903 SF)
Zoning code
IC
APN
012-232-18
UPID
US62-1154614
Jurisdiction
WASHOE
Zoning & alternative use
IC · Reno, NV
Zoning IC · permitted uses
IC · 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
AUTO REPAIR, GARAGE Current
Est. value
$9.0M
INDUSTRIAL (GENERAL)
Est. value
$7.8M
RETAIL STORES
Est. value
$7.7M
AUTO REPAIR, GARAGE Current
INDUSTRIAL (GENERAL)
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
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
3.6 ac
Current owner
From public records · entity-resolved
Snl Iov Reno Owner LLC
Entity
Mailing address
300 N LA SALLE DR STE #5450, CHICAGO, IL 60654-3448
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2026
—
Snl Iov Reno Owner LLC
—
Deed
related
$97,000,000 · New York Life Insurance Company
Aug 31, 2021
—
Snl Iov Reno Owner LLC
—
Deed
related
$145,000,000 · Cibc Bank USA
May 4, 2021
$4,410,000
Snl Iov Reno Owner LLC
National Sierra LLC
Grant Deed
—
Aug 22, 2014
$3,200,000
National Sierra LLC
Lithia Real Estate INC
Grant Deed
—
Jan 27, 2004
$3,500,000
Lithia Real Estate INC
Ewert,tr
Grant Deed
—
—
—
Lithia Real Estate INC
—
Deed Of Trust
related
$2,880,000 · Premierwest Bank
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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