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Property profile & analytics
OFF-MARKET
Estimated value
$1,220,000
Office buildings
4515 Towne Dr Reno, NV 89521-9808
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US62-0415153
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,246 SF
Lot
0.6 ac (26,136 SF)
Zoning code
GC
APN
017-020-11
UPID
US62-0415153
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
-
Eastern Sierra Engineering Civil Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.22M
CAP Approach
CAP
$1.52M
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$1.22M
Owner & transaction history
Towne Drive Reno LLC · 2 yrs held
Towne Drive Reno LLC
since 2024
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
GC · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.8M
+27.7%
Auto repair, garage
$1.8M
+23.1%
Apartment house (5+ units)
$1.7M
+20.8%
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
$1,220,000
ML approach
$1,220,000
CAP Approach
CAP Return
Estimation
6%
$1,650,000
6.5%
$1,520,000
7%
$1,415,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,435,000
Current use
MEDICAL BUILDING
$1,830,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,765,000
Change: +23% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,730,000
Change: +21% · Conversion: Easy
RETAIL STORES
$1,350,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$1.22M
Range $1.10M – $1.34M · ±10% · vs last sale $1.22M (Jan 31 2024)
Last sale anchor
$1.22M
Jan 31 2024
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
$233 / 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
$7,804
Tax year 2023
Assessed value
$258,956
Assessed 2023
Previous assessed
$258,956
+0.0% YoY
Effective rate
3.01%
On assessed value
Assessed land
$45,967
Assessed improvement
$212,989
Land market value
$131,335
Improvement market value
$608,539
Total market value
$739,874
Applied tax rate
4,000.0000
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
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
5,246 SF
Lot
0.6 ac (26,136 SF)
Zoning code
GC
APN
017-020-11
UPID
US62-0415153
Jurisdiction
WASHOE
Zoning & alternative use
GC · Reno, NV
Zoning GC · permitted uses
GC · 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
$1.4M
MEDICAL BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Towne Drive Reno LLC
Entity
Mailing address
3760 FULTON GRV RD, CINCINNATI, OH 45245-2808
Ownership since
2024
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
Jan 31, 2024
$1,222,000
Towne Drive Reno LLC
Frmg LLC
Bargain And Sale Deed
$922,000 · Gerald Gregory Jensen And Monica Stagen
Jan 26, 2022
—
Frmg LLC
Gerald Gregory Jensen
Deed
—
May 6, 2011
$665,000
Jensen G G & M S Living Trust
Williams,keith R & Janet I
Grant Deed
—
Mar 31, 2004
$300,000
Keith R Williams
Dalydzn Corp
Grant Deed
—
Nov 22, 1991
$120,000
Dalydzn,
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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