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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Casinos
38 2nd St, Reno, NV 89501-1410
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US62-0399383
Property profile
Verified
Property type
Casinos
Use group
CASINO
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
34,740 SF
Lot
0.41 ac (17,872 SF)
Zoning code
MDRD
APN
011-062-27
UPID
US62-0399383
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
-
Top Deck Restaurant
-
William Hill Sportsbook Hotel & Motel Resort
-
club Cal Neva's casino grill Restaurant
-
Club Cal-Neva Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$719k
Blend (final)
Blend
$725k
Owner & transaction history
Sierra Dev Co · 13 yrs held
Sierra Dev Co
since 2013
5 recorded transactions
Zoning & alternative use
MDRD · 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
$730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$725k
Range $653k – $798k · ±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
$21 / 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
$12,950
Tax year 2023
Assessed value
$374,143
Assessed 2023
Previous assessed
$258,840
+44.5% YoY
Effective rate
3.46%
On assessed value
Assessed land
$198,468
Assessed improvement
$175,675
Land market value
$567,050
Improvement market value
$501,928
Total market value
$1,068,978
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
34,740 SF
Lot
0.41 ac (17,872 SF)
Zoning code
MDRD
APN
011-062-27
UPID
US62-0399383
Jurisdiction
WASHOE
Zoning & alternative use
MDRD · Reno, NV
Zoning MDRD · permitted uses
MDRD · 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.
Building & site characteristics
From public records
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Sierra Dev Co
Entity
Mailing address
PO BOX 2071, RENO, NV 89505-2071
Ownership since
2013
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 18, 2013
—
Sierra Dev Co
—
Deed Of Trust
related
$1,500,000 · Siri Family Trust
Jun 17, 2013
—
Sierra Dev Co
—
Deed Of Trust
related
$1,500,000 · Siri Family Trust
Apr 24, 2013
—
Sierra Dev Co
—
Deed Of Trust
related
$2,850,000 · Nightingale L R Trust (pt)
Jan 13, 2000
—
Sierra Development Co
—
Deed Of Trust
related
$30,095,750 · Wells Fargo Bank
—
—
Sierra Dev Co
—
Deed Of Trust
related
$577,884 · Siri 2006 Trust (rt)
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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