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Property profile & analytics
OFF-MARKET
Estimated value
$3,410,000
Casinos
345 Virginia St Reno, NV 89501-1136
Entity Owned
30-yr Hold
Free & Clear
Property ID
US62-0443548
Property profile
Verified
Property type
Casinos
Use group
CASINO
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
94,875 SF
Lot
1.51 ac (65,993 SF)
Zoning code
MDED
APN
007-294-38
UPID
US62-0443548
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
-
Novi Nightclub DJ & Entertainment
-
Sierra Comstock Tours Travel Agency Tour Operator
-
Eldorado Showroom Theater & Performing Art Venue Music Venue
-
Roxy's Bar & Lounge Bar & Pub
-
Hidden Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.41M
Owner & transaction history
Eldorado Resorts LLC · 30 yrs held
Eldorado Resorts LLC
since 1996
5 recorded transactions
Zoning & alternative use
MDED · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CASINO
$3,965,000
Current use
Blend value · Realmo final
$3.41M
Range $3.07M – $3.75M · ±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
$36 / 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
$338,101
Tax year 2023
Assessed value
$16,788,951
Assessed 2023
Previous assessed
$11,233,593
+49.5% YoY
Effective rate
2.01%
On assessed value
Assessed land
$748,031
Assessed improvement
$16,040,920
Land market value
$2,137,230
Improvement market value
$45,831,201
Total market value
$47,968,431
Applied tax rate
1,001.0000
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
Casinos
Use group
CASINO
Status
Off-Market
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Buildings
3
Stories
11
Units
496
Total area
94,875 SF
Lot
1.51 ac (65,993 SF)
Zoning code
MDED
APN
007-294-38
UPID
US62-0443548
Jurisdiction
WASHOE
Zoning & alternative use
MDED · Reno, NV
Zoning MDED · permitted uses
MDED · 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
CASINO Current
Est. value
$4.0M
CASINO Current
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
11
Buildings
3
Units
496
Lot
1.51 ac
Current owner
From public records · entity-resolved
Eldorado Resorts LLC
Entity
Free & Clear · 30 yrs held
Mailing address
PO BOX 543185, DALLAS, TX 75354-3185
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 8, 2017
—
Eldorado Resorts
—
Grant Deed
related
—
Jun 1, 2011
—
Eldorado Resorts LLC
—
Deed Of Trust
related
$180,000,000 · Capital One
Jul 2, 1996
—
Eldorado Resorts LLC
Eldorado Hotel Associates LP
Quit Claim Deed
related
—
—
—
Eldorado Resorts
—
Deed Of Trust
related
$575,000,000 · Jp Morgan Chase Bk
—
—
Eldorado Resorts
—
Loan Modification
related
$575,000,000 · Jp Morgan Chase 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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