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Property profile & analytics
OFF-MARKET
Estimated value
$3,070,000
Office buildings
3255 Virginia St Reno, NV 89502-4505
Individually Owned
~
Est. High Equity
Property ID
US62-0085863
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,399 SF
Lot
1.93 ac (83,940 SF)
Zoning code
MU
APN
019-360-15
UPID
US62-0085863
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
-
South Pacific Financial Corporation - Reno II Loan Service Bank
-
EmzEsthetics Vocational School Training Center
-
Calm Essence Spa & Massage Center
-
Skin by Nicole Spa & Massage Center
-
Reno's beauty Escape Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.14M
CAP Approach
CAP
$3.02M
Comparable Approach
Comparable
$3.64M
Blend (final)
Blend
$3.07M
Owner & transaction history
Regional Trans Commission Of Washoe
Regional Trans Commission Of Washoe
since 2026
7 recorded transactions
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.3M
+81.5%
Neighborhood: shopping center
$4.2M
+78.2%
Medical building
$3.6M
+54.8%
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
$3,055,000
ML approach
$3,135,000
CAP Approach
CAP Return
Estimation
6%
$3,270,000
6.5%
$3,015,000
7%
$2,800,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,345,000
Current use
RESTAURANT
$4,255,000
Change: +81% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$4,180,000
Change: +78% · Conversion: Difficult
MEDICAL BUILDING
$3,630,000
Change: +55% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,435,000
Change: +46% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,325,000
Change: +42% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,865,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$3.07M
Range $2.76M – $3.38M · ±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
$295 / 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
$31,158
Tax year 2023
Assessed value
$952,709
Assessed 2023
Previous assessed
$809,242
+17.7% YoY
Effective rate
3.27%
On assessed value
Assessed land
$530,291
Assessed improvement
$422,418
Land market value
$1,515,117
Improvement market value
$1,206,909
Total market value
$2,722,026
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
10,399 SF
Lot
1.93 ac (83,940 SF)
Zoning code
MU
APN
019-360-15
UPID
US62-0085863
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.3M
RESTAURANT
Est. value
$4.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.2M
MEDICAL BUILDING
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.3M
INDUSTRIAL (GENERAL)
Est. value
$2.9M
OFFICE BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.93 ac
Current owner
From public records · entity-resolved
Regional Trans Commission Of Washoe
Individual
Mailing address
129 COMMERCIAL DR UNIT #3, YORKVILLE, IL 60560-4731
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2026
—
Regional Trans Commission Of Washoe
Center Line Group LLC Reno Series
Bargain & Sale Deed
—
Dec 28, 2021
$3,100,000
Center Line Group LLC
Capricorn Properties LLC
Bargain And Sale Deed
$2,480,000 · Old Second Bank
Jun 30, 2016
—
Capricorn Properties LLC
—
Deed
related
$300,000 · Bank Of The West
Jan 10, 2014
$800,000
Capricorn Properties LLC
Mt Properties INC
Grant Deed
—
Apr 4, 2003
$1,200,000
Mt Properties INC
Rme Investments
Grant Deed
$1,700,000 · Nevada State Bank
Apr 9, 1999
$960,000
Rme Investments
Armesco Financial I
Grant Deed
$720,000 · Heritage Bank Nevada
Jul 3, 1997
$1,125,000
Financial I Amersco
Collins,walter V & Wendy B
Trustees Deed
related
—
—
—
Rme Investments
—
Deed Of Trust
related
$905,000 · Heritage Bank Nevada
—
—
Capricorn Properties LLC
—
Deed Of Trust
related
$400,000 · Michael Guidara
—
—
Mt Properties INC
—
Deed Of Trust
related
$574,560 · Lee Bros Leesing INC Psp & Tr
—
—
Capricorn Properties LLC
—
Deed Of Trust
related
$300,000 · Bank Of The West
—
—
Capricorn Properties LLC
—
Deed Of Trust
related
$600,000 · Bank Of The West
—
—
Mt Properties INC
—
Deed Of Trust
related
$200,000 · Lester Linda V Trust
—
—
Mt Properties LLC
—
Deed Of Trust
related
$91,644 · Guild Russell Gallagher & Full
—
—
Mt Properties INC
—
Deed Of Trust
related
$250,000 · L/p Associates LLC
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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