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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3251 Carson St Carson City, NV 89701-5589

    • Hotels
    • 5,900 SF
    • 3.52 lot acres
    OFF-MARKET
    Last Sale
    Sep 15, 2023
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-1191668
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mill House Inn Motel / Hotel & Motel

    Property Details for 3251 Carson St

    Year built
    1967
    Lot size
    3.52 lot acres
    Property size
    5,900 SF
    Zone code
    RC
    Property type
    Hotels
    Property subtype
    Motels
    APN
    009-112-07
    APU
    911207

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $425,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $589,000
      Market price range: $136k - $590k

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $325,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $715,000
      Change: +120% Conversion: Difficult
      RESTAURANT
      $605,000
      Change: +86% Conversion: Difficult
      OFFICE BUILDING
      $535,000
      Change: +64% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $465,000
      Change: +43% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $415,000
      Change: +27% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Carson City
    County
    Carson City
    State
    Nevada
    Longitude
    -119.767
    Latitude
    39.138
    CBSA code
    16180
    CBSA name
    CARSON CITY, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $21,206
    $414,300
    $151,067
    $565,367
    -
    $1,183,715
    $431,620
    $1,615,335

    Comparable in this City

    • Value Estimation
      $920,000
      37,838 SF

      800 Carson St

      HOTEL/MOTEL • 37,838 SF
      800 Carson St, Carson City, NV 89701-4008
      View Details
    • Value Estimation by Request
      2,832 SF

      1515 Carson St

      HOTEL/MOTEL • 2,832 SF
      1515 Carson St, Carson City, NV 89701-1210
      View Details
    • Value Estimation
      $2,930,000
      14,080 SF

      555 Stewart St

      HOTEL/MOTEL • 14,080 SF
      555 Stewart St, Carson City, NV 89701-4230
      View Details
    • Value Estimation
      $2,960,000
      4,733 SF

      1850 Carson St

      HOTEL/MOTEL • 4,733 SF
      1850 Carson St, Carson City, NV 89701-1264
      View Details
    • Value Estimation by Request
      14,952 SF

      1400 Carson St

      HOTEL/MOTEL • 14,952 SF
      1400 Carson St, Carson City, NV 89701-1207
      View Details
    • Value Estimation by Request
      1,600 SF

      323 Stewart St

      HOTEL/MOTEL • 1,600 SF
      323 Stewart St, Carson City, NV 89701-4293
      View Details

    Similar Nearby for Sale

    • $16,750,000
      184,184 SF

      Ormsby House: Carson City Landmark

      110-unit hotel, prime downtown location.
      600 Carson St, Carson City, NV 89701
      View Details
    • $891,000

      Developable Land Near Freeway

      Level lot near amenities, good for development.
      Saliman Rd South, Carson City, NV 89701
      View Details
    • $2,150,000
      39.17 Acres

      Carson City Commercial Land

      39 Acres, Zoned GC, $2.15M
      0 39.17 Acres, Carson City, NV 89701
      View Details
    • $2,300,000
      10 SF

      Multi-Tenant Retail and Office Building

      Two-story retail and office building near 5th St roundabout.
      933 Woodside Dr, Carson City, NV 89701
      View Details
    • $1,835,000
      9,000 SF

      Carson City Flex Space - $1.8M

      9,000 SF Flex Building, Excellent Location
      5576 Bighorn Dr, Carson City, NV 89701
      View Details
    • $549,000
      2.23 Acres

      Carson City Land Opportunity

      2.23-acre parcel suitable for single-family development in Carson City.
      801 Koontz Ln, Carson City, NV 89701
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,674 SF

      Corner Property on Carson Street

      4.8 acre corner property with frontage on S. Carson St.
      4555 S Carson St, Carson City, NV 89701
      View Details
    • $4,000 /Mo
      1,831 SF

      Mixed-Use Property on Carson Street

      High-exposure mixed-use property with residential space for lease.
      3129 S Carson St, Carson City, NV 89701
      View Details
    • $0.85 SF/Yr
      6,000 SF

      Industrial Warehouse Space Available

      6,000 SF warehouse space available for lease.
      5250 Us Highway 50 E, Carson City, NV 89701
      View Details
    • $78,012
      20,909 SF

      Retail Space in Carson City

      Commercial space available for lease in Carson City, Nevada.
      4530 S Carson St, Carson City, NV 89701
      View Details
    • $1.25 SF/Yr
      15,149 SF

      Carson City Retail/Automotive Property

      Retail/automotive property in Carson City's busiest retail area.
      3390 S Carson St, Carson City, NV 89701
      View Details
    • Contact for pricing
      2,926 SF

      Retail Space in Northgate Plaza

      Retail suites available in Carson City's Northgate Plaza.
      2709-2749 N Carson St, Carson City, NV 89701
      View Details
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    Carson City, NV 89701-5589
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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