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Property profile & analytics
OFF-MARKET
Estimated value
$23,775,000
Hotels
490 Mdws Pkwy Reno, NV 89521-6080
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US62-0827610
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2018
Construction
WOOD
Total area
72,710 SF
Lot
2.37 ac (103,237 SF)
Zoning code
PD
APN
160-040-30
UPID
US62-0827610
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$32.48M
Blend (final)
Blend
$23.78M
Owner & transaction history
Nv Hospitality LLC · 4 yrs held
Nv Hospitality LLC
since 2022
3 recorded transactions
Zoning & alternative use
PD · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$38.8M
+61.2%
Restaurant
$29.7M
+23.8%
Neighborhood: shopping center
$29.2M
+21.5%
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
HOTEL/MOTEL
$24,035,000
Current use
COMMERCIAL (GENERAL)
$38,755,000
Change: +61% · Conversion: Difficult
RESTAURANT
$29,745,000
Change: +24% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$29,210,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$25,380,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$24,470,000
Change: +2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$24,005,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$19,875,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$23.78M
Range $21.40M – $26.15M · ±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
$327 / 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
$163,888
Tax year 2023
Assessed value
$4,934,960
Assessed 2023
Previous assessed
$4,144,405
+19.1% YoY
Effective rate
3.32%
On assessed value
Assessed land
$536,574
Assessed improvement
$4,398,386
Land market value
$1,533,069
Improvement market value
$12,566,818
Total market value
$14,099,887
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2018
Construction
WOOD
Heating
HEAT PUMP
Cooling
YES
Stories
4
Units
117
Total area
72,710 SF
Lot
2.37 ac (103,237 SF)
Zoning code
PD
APN
160-040-30
UPID
US62-0827610
Jurisdiction
WASHOE
Zoning & alternative use
PD · Reno, NV
Zoning PD · permitted uses
PD · 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
HOTEL/MOTEL Current
Est. value
$24.0M
COMMERCIAL (GENERAL)
Est. value
$38.8M
RESTAURANT
Est. value
$29.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$29.2M
MEDICAL BUILDING
Est. value
$25.4M
AUTO REPAIR, GARAGE
Est. value
$24.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$24.0M
OFFICE BUILDING
Est. value
$19.9M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
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
2018
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Stories
4
Units
117
Lot
2.37 ac
Current owner
From public records · entity-resolved
Nv Hospitality LLC
Entity
Mailing address
2551 MANHATTAN DR, CARSON CITY, NV 89703-5447
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jun 17, 2022
—
Nv Hospitality LLC
—
Deed
related
$11,100,000 · Meadows Bank
Sep 17, 2019
—
Nv Hospitality LLC
—
Grant Deed
related
$12,200,000 · Us Bk
Sep 15, 2017
—
Nv Hospitality LLC
—
Trustees Deed
related
$12,200,000 · Greater Nv Cu
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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