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Property profile & analytics
OFF-MARKET
Estimated value
$1,475,000
Office buildings
405 Western Rd Reno, NV 89506-5716
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US62-0420787
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Construction
METAL FRAME
Total area
4,800 SF
Lot
6.55 ac (285,492 SF)
Zoning code
ME
APN
082-600-11
UPID
US62-0420787
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
-
Nevada Woodchucks General Contractor
-
Panther Valley skatepark Park
-
Great Basin Welding Services General Contractor
-
Lawn Express & Landscape LLC Landscaping General Contractor
-
Yonder Aerials & Dance Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.39M
Comparable Approach
Comparable
$1.83M
Blend (final)
Blend
$1.48M
Owner & transaction history
Los Angeles Iron & Stell Co · 8 yrs held
Los Angeles Iron & Stell Co
since 2018
6 recorded transactions
Zoning & alternative use
ME · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.9M
+51.5%
Medical building
$1.7M
+31.7%
Auto repair, garage
$1.6M
+26.9%
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 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%
$1,510,000
6.5%
$1,390,000
7%
$1,295,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,275,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,930,000
Change: +52% · Conversion: Difficult
MEDICAL BUILDING
$1,675,000
Change: +32% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,615,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$1,235,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$1.48M
Range $1.33M – $1.62M · ±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
$307 / 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
$40,725
Tax year 2023
Assessed value
$1,181,787
Assessed 2023
Previous assessed
$1,029,801
+14.8% YoY
Effective rate
3.45%
On assessed value
Assessed land
$359,720
Assessed improvement
$822,067
Land market value
$1,027,771
Improvement market value
$2,348,764
Total market value
$3,376,535
Applied tax rate
1,000.0000
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
Off-Market
Year built
1989
Construction
METAL FRAME
Heating
YES
Cooling
YES
Buildings
4
Stories
1
Units
4
Total area
4,800 SF
Lot
6.55 ac (285,492 SF)
Zoning code
ME
APN
082-600-11
UPID
US62-0420787
Jurisdiction
WASHOE
Zoning & alternative use
ME · Reno, NV
Zoning ME · permitted uses
ME · 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
OFFICE BUILDING Current
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.2M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1989
Construction
METAL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Units
4
Lot
6.55 ac
Current owner
From public records · entity-resolved
Los Angeles Iron & Stell Co
Entity
Mailing address
216 LEMMON DR #363, RENO, NV 89506-8701
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2018
$6,500,000
Los Angeles Iron & Stell Co
Gv Rp 2 LLC
Bargain And Sale Deed
$3,250,000 · American Business Bank
Aug 16, 2013
—
Gv Rp2 LLC
Mmk Properties
Grant Deed
—
Dec 31, 2012
—
Gv Rp2 LLC
Drake,kathy M
Grant Deed
—
Feb 17, 1995
—
Mmk Properties
Bowden,marilyn M
Grant Deed
related
—
Dec 29, 1994
—
Marilyn M Bowden
Meiser,vernon M & Alberta
Grant Deed
related
—
Aug 12, 1988
$267,288
Vernon M Meiser
Unknown
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.
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