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Property profile & analytics
OFF-MARKET
Estimated value
$2,075,000
Hotels
400 4th St Reno, NV 89512-3314
Entity Owned
4-yr Hold
Free & Clear
Property ID
US62-0399622
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1929
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,164 SF
Lot
0.2 ac (8,505 SF)
Zoning code
MDID
APN
007-314-01
UPID
US62-0399622
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.08M
Owner & transaction history
Kr Investments LLC · 4 yrs held
Kr Investments LLC
since 2021
Last sale
$2.0M
3 recorded transactions
Zoning & alternative use
MDID · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.4M
+1.8%
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
$2,155,000
ML approach
$2,155,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$3,360,000
Current use
AUTO REPAIR, GARAGE
$3,420,000
Change: +2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,355,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$2,870,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.08M
Range $1.87M – $2.28M · ±10% · vs last sale $2.00M (Dec 15 2021)
Last sale anchor
$2.00M
Dec 15 2021
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
$204 / 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
$7,782
Tax year 2023
Assessed value
$174,260
Assessed 2023
Previous assessed
$140,656
+23.9% YoY
Effective rate
4.47%
On assessed value
Assessed land
$42,195
Assessed improvement
$132,065
Land market value
$120,558
Improvement market value
$377,328
Total market value
$497,886
Applied tax rate
1,002.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1929
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
3
Units
43
Total area
10,164 SF
Lot
0.2 ac (8,505 SF)
Zoning code
MDID
APN
007-314-01
UPID
US62-0399622
Jurisdiction
WASHOE
Zoning & alternative use
MDID · Reno, NVZoning MDID · permitted uses
MDID · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
OFFICE BUILDING
Est. value
$2.9M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1929
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
43
Lot
0.2 ac
Current owner
From public records · entity-resolved
Kr Investments LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1400 S VIRGINIA ST, RENO, NV 89502-2841
Ownership since
2021
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
Sep 3, 2025
—
Kr Investments LLC
—
Deed
related
$800,000 · The Lepori Family Trust
Dec 15, 2021
$2,000,000
Kr Investments LLC
Don & Michele Gibson LLC
Bargain And Sale Deed
—
Jul 26, 2013
$425,000
Don & Michele Gibson LLC
Carl C Cowley
Bargain And Sale Deed
$225,000 · Heritage Bank Of Nevada
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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