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Property profile & analytics
OFF-MARKET
Estimated value
$9,150,000
Community centers
5000 Smithridge Dr Reno, NV 89502-5653
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US62-0550048
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,076 SF
Lot
1.88 ac (81,980 SF)
Zoning code
MU
APN
025-022-06
UPID
US62-0550048
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
$10.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.49M
Blend (final)
Blend
$9.15M
Owner & transaction history
Smithridge Property Owner LLC · 5 yrs held
Smithridge Property Owner LLC
since 2021
Last sale
$10.1M
4 recorded transactions
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$11.9M
+63.4%
Restaurant
$7.4M
+1.8%
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
by Request
ML approach
$10,455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$7,260,000
Current use
COMMERCIAL (GENERAL)
$11,870,000
Change: +63% · Conversion: Easy
RESTAURANT
$7,395,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$6,310,000
Change: -13% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,965,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$9.15M
Range $8.24M – $10.07M · ±10% · vs last sale $10.10M (Jul 14 2021)
Last sale anchor
$10.10M
Jul 14 2021
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
$506 / 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
$27,588
Tax year 2023
Assessed value
$785,526
Assessed 2023
Previous assessed
$696,520
+12.8% YoY
Effective rate
3.51%
On assessed value
Assessed land
$401,702
Assessed improvement
$383,824
Land market value
$1,147,720
Improvement market value
$1,096,639
Total market value
$2,244,359
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
18,076 SF
Lot
1.88 ac (81,980 SF)
Zoning code
MU
APN
025-022-06
UPID
US62-0550048
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$11.9M
RESTAURANT
Est. value
$7.4M
MEDICAL BUILDING
Est. value
$6.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.0M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1.88 ac
Current owner
From public records · entity-resolved
Smithridge Property Owner LLC
Entity
Mailing address
3900 S HUALAPAI WAY STE #200, LAS VEGAS, NV 89147-5726
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2021
$10,100,000
Smithridge Property Owner LLC
Smithridge Shopping Center LP
Bargain And Sale Deed
—
—
—
Smithridge Shopping Center LP
—
Deed Of Trust
related
$5,250,000 · Wells Fargo Bank
—
—
Smithridge Shopping Center
—
Deed Of Trust
related
$7,500,000 · Rabobank
—
—
Smithridge Shopping Center LP
—
Deed Of Trust
related
$6,600,000 · Sacramento Bk/cmrc
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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