Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$8,445,000
Casinos
407 Virginia St Reno, NV 89501-1138
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US62-0411282
Property profile
Verified
Property type
Casinos
Use group
CASINO
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
257,400 SF
Lot
2.71 ac (118,178 SF)
Zoning code
MDED
APN
007-293-19
UPID
US62-0411282
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
-
Spa Cafe & Bar Cafe & Coffee Shop
-
Silver Legacy Table Games Hotel & Motel Resort
-
Keno Room Hotel & Motel Resort
-
ANT Comedian Nightclub Theater & Performing Art Venue
-
2017 California Agents Conference Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.45M
Owner & transaction history
Circus And Eldorado Joint Venture L · 3 yrs held
Circus And Eldorado Joint Venture L
since 2023
6 recorded transactions
Zoning & alternative use
MDED · 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CASINO
$10,760,000
Current use
Blend value · Realmo final
$8.45M
Range $7.60M – $9.29M · ±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
$33 / 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
$414,787
Tax year 2023
Assessed value
$14,282,726
Assessed 2023
Previous assessed
$9,353,789
+52.7% YoY
Effective rate
2.90%
On assessed value
Assessed land
$1,240,754
Assessed improvement
$13,041,972
Land market value
$3,545,010
Improvement market value
$37,262,778
Total market value
$40,807,788
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
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
3
Units
1
Total area
257,400 SF
Lot
2.71 ac (118,178 SF)
Zoning code
MDED
APN
007-293-19
UPID
US62-0411282
Jurisdiction
WASHOE
Zoning & alternative use
MDED · Reno, NVZoning MDED · permitted uses
MDED · 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
CASINO Current
Est. value
$10.8M
CASINO Current
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
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
1
Lot
2.71 ac
Current owner
From public records · entity-resolved
Circus And Eldorado Joint Venture L
Entity
Mailing address
PO BOX 543185, DALLAS, TX 75354-3185
Ownership since
2023
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
Jul 31, 2023
—
Circus And Eldorado Joint Venture L
—
Deed
related
—
Feb 12, 2021
—
Circus And Eldorado Joint Venture L
—
Deed
related
$458,500,000 · Us Bank NA
Jun 1, 2017
—
Circus & Eldorado Jv LLC
—
Grant Deed
related
—
May 25, 2016
—
Circus And Eldorado Joint Venture L
—
Deed
related
$575,000,000 · Jpmorgan Chase Bank NA
Nov 16, 2012
—
Circus Jv
—
Deed Of Trust
related
$27,500,000 · Wells Fargo Bank
Mar 5, 2002
—
Circus Ventur
—
Deed Of Trust
related
$180,000,000 · Bank Of New York Trustee
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 407 Virginia St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
