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Property profile & analytics
FOR SALE
Office buildings
350 Salomon Cir Sparks, NV 89434
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US62-0362481
For Sale
1 / 2
$10,250,000
350 Salomon Cir, Sparks, NV 89434
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
38,407 SF
Lot
6.33 ac (275,735 SF)
Zoning code
I
APN
037-272-35
UPID
US62-0362481
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
-
Elliott Group, Cryodynamics Division Industrial Manufacturer Production Facility
-
EBARA International Corporation Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.25M
CAP Approach
CAP
$8.92M
Comparable Approach
Comparable
$12.74M
Blend (final)
Blend
$10.25M
Owner & transaction history
Ivy Properties LLC · 2 yrs held
Ivy Properties LLC
since 2024
Last sale
$10.3M
3 recorded transactions
Zoning & alternative use
I · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$15.9M
+49.0%
Medical building
$13.4M
+26.3%
Commercial (general)
$13.3M
+24.9%
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 Sparks submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sparks 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
$10,250,000
ML approach
$10,250,000
CAP Approach
CAP Return
Estimation
6%
$9,665,000
6.5%
$8,920,000
7%
$8,285,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$10,640,000
Current use
INDUSTRIAL (GENERAL)
$15,850,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$13,435,000
Change: +26% · Conversion: Easy
COMMERCIAL (GENERAL)
$13,290,000
Change: +25% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$12,680,000
Change: +19% · Conversion: Easy
RETAIL STORES
$11,680,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$10.25M
Range $9.23M – $11.28M · ±10% · vs last sale $10.25M (Feb 26 2024)
Last sale anchor
$10.25M
Feb 26 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
$267 / 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
$83,083
Tax year 2023
Assessed value
$2,504,736
Assessed 2023
Previous assessed
$2,504,736
+0.0% YoY
Effective rate
3.32%
On assessed value
Assessed land
$579,044
Assessed improvement
$1,925,692
Land market value
$1,654,410
Improvement market value
$5,501,976
Total market value
$7,156,386
Applied tax rate
2,000.0000
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
For Sale
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
4
Stories
1
Units
3
Total area
38,407 SF
Lot
6.33 ac (275,735 SF)
Zoning code
I
APN
037-272-35
UPID
US62-0362481
Jurisdiction
WASHOE
Zoning & alternative use
I · Sparks, NV
Zoning I · permitted uses
I · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sparks. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$10.6M
INDUSTRIAL (GENERAL)
Est. value
$15.9M
MEDICAL BUILDING
Est. value
$13.4M
COMMERCIAL (GENERAL)
Est. value
$13.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.7M
RETAIL STORES
Est. value
$11.7M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Units
3
Lot
6.33 ac
Current owner
From public records · entity-resolved
Ivy Properties LLC
Entity
Mailing address
425 LUCIANA DR, RENO, NV 89521-4288
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2025
—
Ivy Properties LLC
—
Deed
related
$1,733,000 · Neyada State Development Corporation
Feb 26, 2024
$10,250,000
Ivy Properties LLC
Elliott Company
Bargain And Sale Deed
$6,777,000 · Us Bank NA
Mar 14, 2019
—
Elliott Co
Ebara Intl Corp
Grant Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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