Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    3590 Carlos Ln Reno, NV 89502

    Property Lookup

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

    3590 Carlos Ln Reno, NV 89502

    View on Map
    • Commercial real estate
    • 3,600 SF
    • 0.14 lot acres
    Off-Market
    Property ID
    US62-1293449
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3590 Carlos Ln

    Year built
    1963
    Lot size
    0.14 lot acres
    Property size
    3,600 SF
    Property type
    Commercial real estate
    APN
    02031128

    Description

    This exceptional value-add investment opportunity presents a four-unit apartment building situated on a 0.14-acre lot in Reno, Nevada. The property, located at 3590 Carlos Lane, boasts 3,600 square feet and is zoned MF30. Built in 1963, this two-story building offers significant potential for increased profitability. The asking price is $729,500, translating to $182,375 per unit and $202.64 per square foot. The property's current pro-forma net operating income (NOI) is $42,504, yielding a 5.00% cap rate. Average rents are currently below market value, presenting a clear path to increased revenue. The parking lot was completely repaved in 2023. The property is being sold "as is," and a 24-hour notice is required for showings. This is a tenant-occupied property. The property's address is 3590 Carlos Ln, Reno, NV 89502, and its APN is 02031128. The seller is motivated, making this an attractive investment for those seeking a hands-on project with substantial upside potential. This is a multifamily investment opportunity with significant potential for value appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.7824639
    Latitude
    39.4910164

    Comparable in this City

    • New
      $1,862,000
      5,549 SF

      Reno Multifamily Investment Opportunity

      Twelve-unit property near Midtown and Downtown Reno with income potential.
      921 Willow St, Reno, NV 89502
      View Details
    • $42,000,000
      65,688 SF

      Multifamily Repositioning Opportunity in Reno

      Multifamily property with compliant upgrades, designed for workforce housing.
      1901 South Virginia St, Reno, NV 89502
      View Details
    • New
      $1,350,000
      3,822 SF

      Reno Multifamily Investment Opportunity

      Nine-unit property near Midtown and Downtown Reno with income potential.
      747 Willow St, Reno, NV 89502
      View Details
    • $1,285,000

      Renovated Multifamily Investment Property

      Fully occupied, renovated multifamily property with stable cash flow.
      760 Moran St, Reno, NV 89502
      View Details
    • $1,075,000

      Multifamily Investment Near Midtown Reno

      Multifamily investment property featuring six spacious units near Midtown Reno.
      1761 Stewart St, Reno, NV 89502
      View Details
    • $42,000,000

      Multifamily Repositioning Opportunity in Reno

      Multifamily repositioning with upgrades. High demand workforce housing.
      1901 South Virginia St, Reno, NV 89502
      View Details

    Similar Nearby for Sale

    • New
      $1,862,000
      5,549 SF

      Reno Multifamily Investment Opportunity

      Twelve-unit property near Midtown and Downtown Reno with income potential.
      921 Willow St, Reno, NV 89502
      View Details
    • $42,000,000
      65,688 SF

      Multifamily Repositioning Opportunity in Reno

      Multifamily property with compliant upgrades, designed for workforce housing.
      1901 South Virginia St, Reno, NV 89502
      View Details
    • New
      $1,350,000
      3,822 SF

      Reno Multifamily Investment Opportunity

      Nine-unit property near Midtown and Downtown Reno with income potential.
      747 Willow St, Reno, NV 89502
      View Details
    • $1,285,000

      Renovated Multifamily Investment Property

      Fully occupied, renovated multifamily property with stable cash flow.
      760 Moran St, Reno, NV 89502
      View Details
    • $1,075,000

      Multifamily Investment Near Midtown Reno

      Multifamily investment property featuring six spacious units near Midtown Reno.
      1761 Stewart St, Reno, NV 89502
      View Details
    • $42,000,000

      Multifamily Repositioning Opportunity in Reno

      Multifamily repositioning with upgrades. High demand workforce housing.
      1901 South Virginia St, Reno, NV 89502
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Class A Office Building

      Five-story Class A office building with gym and ample parking.
      5190 Neil Rd, Reno, NV 89502
      View Details
    • $2.00 SF/Yr
      3,266 SF

      Medical Office in Reno Corridor

      Two-story medical office in Reno's downtown medical corridor.
      730 Willow St, Reno, NV 89502
      View Details
    • Contact for pricing

      Land for Rent in Reno

      Land available for rent in Reno, Nevada.
      Vassar St, Reno, NV 89502
      View Details
    • Contact for pricing
      9,600 SF

      Reno Warehouse Space Available

      9,600 SF warehouse space for lease in Reno.
      590 Sunshine Ln, Reno, NV 89502
      View Details
    • Contact for pricing
      364 SF

      Reno Office Space For Rent

      Office space available for rent in Reno, Nevada.
      1000 Bible Way, Reno, NV 89502
      View Details
    • $0.75 SF/Yr

      Office/Retail Complex with Open Spaces

      Office and retail spaces with flexible layouts and easy access.
      405-425 Gentry Way, Reno, NV 89502
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3590 Carlos Ln
    Reno, NV 89502
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!