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Property profile & analytics
FOR SALE
Outlet malls
5000 Smithridge Dr Reno, NV 89502
Trust Owned
Free & Clear
Property ID
US62-0030444
For Sale
1 / 2
$14,000,000
5000 Smithridge Dr, Reno, NV 89502
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
43,131 SF
Lot
3.71 ac (161,390 SF)
Zoning code
MU
APN
025-022-02
UPID
US62-0030444
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
-
Honey Treat Yogurt Cafe & Coffee Shop Take-out & Catering
-
Cindy Neeley-Sigurdson - State Farm Insurance Agent Insurance Agency
-
Sparks Florist® (Bike/Boat/Book/etc) Store Florist
-
Goodwill Sacramento Valley & Northern Nevada Discount Store
-
Bam!Dog Righteous Hot Dogs Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.67M
CAP Approach
CAP
$8.40M
Comparable Approach
Comparable
$9.97M
Blend (final)
Blend
$13.36M
Owner & transaction history
The Morris Family Trust
The Morris Family Trust
since 2025
Last sale
$14.0M
7 recorded transactions
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.6M
+50.1%
Neighborhood: shopping center
$17.3M
+47.4%
Medical building
$15.1M
+28.0%
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
$12,770,000
ML approach
$12,670,000
CAP Approach
CAP Return
Estimation
6%
$9,095,000
6.5%
$8,395,000
7%
$7,795,000
Alternative Use
Use
Estimation
RETAIL STORES
$11,760,000
Current use
RESTAURANT
$17,645,000
Change: +50% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$17,325,000
Change: +47% · Conversion: Moderate
MEDICAL BUILDING
$15,055,000
Change: +28% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$14,240,000
Change: +21% · Conversion: Difficult
AUTO REPAIR, GARAGE
$13,795,000
Change: +17% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$11,885,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$13.36M
Range $12.02M – $14.70M · ±10% · vs last sale $14.00M (Jun 12 2025)
Last sale anchor
$14.00M
Jun 12 2025
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
$310 / 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
$50,319
Tax year 2023
Assessed value
$1,427,297
Assessed 2023
Previous assessed
$1,272,818
+12.1% YoY
Effective rate
3.53%
On assessed value
Assessed land
$790,811
Assessed improvement
$636,486
Land market value
$2,259,460
Improvement market value
$1,818,531
Total market value
$4,077,991
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Sale
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
43,131 SF
Lot
3.71 ac (161,390 SF)
Zoning code
MU
APN
025-022-02
UPID
US62-0030444
Jurisdiction
WASHOE
Zoning & alternative use
MU · Reno, NV
Zoning MU · permitted uses
MU · 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
RETAIL STORES Current
Est. value
$11.8M
RESTAURANT
Est. value
$17.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$17.3M
MEDICAL BUILDING
Est. value
$15.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.2M
AUTO REPAIR, GARAGE
Est. value
$13.8M
INDUSTRIAL (GENERAL)
Est. value
$11.9M
RETAIL STORES Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
3.71 ac
Current owner
From public records · entity-resolved
The Morris Family Trust
Trust
Free & Clear · 0 yrs held
Mailing address
11911 SAN VICENTE BLVD STE #310, LOS ANGELES, CA 90049-6635
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2025
$14,000,000
The Morris Family Trust
Smithridge Property Owner LLC
Bargain & Sale Deed
—
Sep 10, 2025
$1,597,709
Re Reno LLC
The Pep Boys Manny Moe & Jack Of Ca
Special Warranty Deed
—
Sep 24, 2021
—
Smithridge Property Owner LLC
—
Deed
related
$6,565,000 · Dundee Bank
Sep 7, 2021
$9,400,000
Ralph Horowitz
Marhilus Reno LLC
Bargain And Sale Deed
—
Jul 14, 2021
$10,100,000
Smithridge Property Owner LLC
Smithridge Shopping Center LP
Bargain & Sale Deed
—
Feb 1, 2019
$3,650,000
Marhilus Reno LLC
Tru Trust 2016 LLC
Bargain And Sale Deed
$4,535,000 · Rra Capital Management LLC
Sep 10, 2018
—
Tru Trust 2016 LLC
Toys R Us Property Co II LLC
Grant Deed
—
Nov 8, 2016
—
Toys R Us Property Co II LLC
—
Grant Deed
related
$512,000,000 · Goldman Sachs Mtg
Jun 30, 2016
—
Smithridge Shopping Center LP
—
Deed
related
$6,600,000 · Sacramento Bk/cmrc
Dec 3, 2009
—
Toys R Us Property Co II LLC
—
Deed Of Trust
related
$725,000,000 · Bank Of Ny Mellon
Sep 1, 2005
$5,000,000
Giraffe Properties LLC
Toys R Us Delaware INC
Limited Warranty 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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