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Property profile & analytics
OFF-MARKET
Estimated value
$6,430,000
Medical Office Space
5070 Ion Dr Sparks, NV 89436-1612
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US62-0385162
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2008
Construction
STEEL FRAME
Total area
22,232 SF
Lot
1.89 ac (82,328 SF)
Zoning code
NUD
APN
516-224-01
UPID
US62-0385162
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
-
ROC Physical Therapy Medical Clinic
-
Saint Mary's Pediatrics - Sparks Medical Clinic
-
Saint Mary's Medical Group: Caren Jaggers, APRN Physician
-
Saint Mary's Imaging - Sparks Medical Clinic
-
Saint Mary's Medical Group: Schmidt,Terri APRN Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.65M
CAP Approach
CAP
$4.99M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.43M
Owner & transaction history
Washoe Redev LLC · 5 yrs held
Washoe Redev LLC
since 2020
Last sale
$6.0M
5 recorded transactions
Zoning & alternative use
NUD · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name
New Urban District
General category
UNKNOWN
Zone area
6,798.11 ac
Source
Realmo
Top alternative use upside
Industrial (general)
$9.2M
+18.0%
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 Sparks submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sparks 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
$8,495,000
ML approach
$8,645,000
CAP Approach
CAP Return
Estimation
6%
$5,400,000
6.5%
$4,985,000
7%
$4,630,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$7,775,000
Current use
INDUSTRIAL (GENERAL)
$9,175,000
Change: +18% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,695,000
Change: -1% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$7,340,000
Change: -6% · Conversion: Moderate
RETAIL STORES
$6,760,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$6.43M
Range $5.79M – $7.07M · ±10% · vs last sale $6.00M (Dec 17 2020)
Last sale anchor
$6.00M
Dec 17 2020
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
$289 / 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
$56,650
Tax year 2023
Assessed value
$1,759,361
Assessed 2023
Previous assessed
$1,467,598
+19.9% YoY
Effective rate
3.22%
On assessed value
Assessed land
$302,530
Assessed improvement
$1,456,831
Land market value
$864,370
Improvement market value
$4,162,374
Total market value
$5,026,744
Applied tax rate
2,000.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
22,232 SF
Lot
1.89 ac (82,328 SF)
Zoning code
NUD
APN
516-224-01
UPID
US62-0385162
Jurisdiction
WASHOE
Zoning & alternative use
NUD · Sparks, NVZoning NUD · permitted uses
NUD · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zone name
New Urban District
General category
UNKNOWN
Zone area
6,798.11 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$7.8M
INDUSTRIAL (GENERAL)
Est. value
$9.2M
COMMERCIAL (GENERAL)
Est. value
$7.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.3M
RETAIL STORES
Est. value
$6.8M
MEDICAL BUILDING Current
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
2008
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
1.89 ac
Current owner
From public records · entity-resolved
Washoe Redev LLC
Entity
Mailing address
1475 TERMINAL WAY STE A, RENO, NV 89502-3432
Ownership since
2020
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
Dec 17, 2020
$6,000,000
Washoe Redev LLC
Spanish Spgs Medical LLC
Grant Deed
—
Oct 5, 2006
—
Spanish Springs Medical LLC
Kiley Ranch LLC
Grant Deed
related
—
—
—
Spanish Springs Medical LLC
—
Deed Of Trust
related
$3,068,000 · Bank Of The West
—
—
Spanish Springs Medical LLC
—
Deed Of Trust
related
$1,000,000 · Spalding Investments LP
—
—
Spanish Springs Medical LLC
—
Deed Of Trust
related
$1,900,000 · Spalding Investments LP
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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