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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Grocery and convenience stores
3390 White Lk Pkwy Reno, NV 89508-6482
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US62-1247539
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1996
Construction
METAL FRAME
Total area
2,400 SF
Lot
1 ac (43,560 SF)
Zoning code
GC
APN
087-550-09
UPID
US62-1247539
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
-
Springmart Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$465k
Comparable Approach
Comparable
$680k
Blend (final)
Blend
$575k
Owner & transaction history
C H Patel · 19 yrs held
C H Patel
since 2007
Last sale
$700,000
7 recorded transactions
Zoning & alternative use
GC · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$840,000
+35.8%
Auto repair, garage
$810,000
+30.9%
Office building
$635,000
+3.1%
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%
$505,000
6.5%
$465,000
7%
$435,000
Alternative Use
Use
Estimation
RETAIL STORES
$615,000
Current use
MEDICAL BUILDING
$840,000
Change: +36% · Conversion: Difficult
AUTO REPAIR, GARAGE
$810,000
Change: +31% · Conversion: Difficult
OFFICE BUILDING
$635,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $700k (Apr 8 2024)
Last sale anchor
$700k
Apr 8 2024
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
$240 / 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
$3,299
Tax year 2023
Assessed value
$127,808
Assessed 2023
Previous assessed
$102,031
+25.3% YoY
Effective rate
2.58%
On assessed value
Assessed land
$68,607
Assessed improvement
$59,201
Land market value
$196,020
Improvement market value
$169,147
Total market value
$365,167
Applied tax rate
4,000.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1996
Construction
METAL FRAME
Heating
SPACE
Stories
1
Units
1
Total area
2,400 SF
Lot
1 ac (43,560 SF)
Zoning code
GC
APN
087-550-09
UPID
US62-1247539
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
RETAIL STORES Current
Est. value
$615,000
MEDICAL BUILDING
Est. value
$840,000
AUTO REPAIR, GARAGE
Est. value
$810,000
OFFICE BUILDING
Est. value
$635,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1996
Construction
METAL FRAME
Heating
SPACE
Stories
1
Units
1
Lot
1 ac
Current owner
From public records · entity-resolved
C H Patel
Individual
Mailing address
490 LK ST, RENO, NV 89501-1120
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2007
$775,000
C H Patel
Bhatia,rajesh
Grant Deed
—
Sep 15, 2005
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Jun 23, 2005
$450,000
Rajesh Bhatia
Masi,becky L
Grant Deed
$250,000 · Becky L Masi
Jun 23, 2005
—
Rajesh Bhatia
Bhatia,renu
Quit Claim Deed
related
—
Nov 23, 2004
—
Becky L Masi
Masi,gregory G
Quit Claim Deed
related
—
May 2, 1995
$26,000
Greg Masi
Dickerson,michael J
Grant Deed
$21,000 · Seller
Jan 9, 1995
$12,000
Michael J Dickerson
Circle K Corp
Grant Deed
—
—
—
Becky Masi
—
Deed Of Trust
related
$125,000 · Hamilton Properties INC
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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