Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    515 Ct St Reno, NV 89501-1710
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    515 Ct St Reno, NV 89501-1710

    View on Map
    • Office buildings
    • 4,516 SF
    • 0.43 lot acres
    Off-Market
    Property ID
    US62-0272323
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,225,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Melissa Morrison / Counselor
    • The Movement Collective / Gym & Fitness Center
    • Men's Health Co. / Medical Clinic
    • Mindspace Psychotherapy LLC / Counselor / Social Worker
    • Center for Healthy Aging / Charitable Organization / Social Service Agency

    Property Details for 515 Ct St

    Year built
    1935
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.43 lot acres
    Property size
    4,516 SF
    Zone code
    PO
    Property type
    Office buildings
    APN
    011-101-13
    APU
    1110113

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,420,000
      6.5%
      $1,310,000
      7%
      $1,215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,537,000
      Market price range: $697k - $1.54M
      AI Estimate
      $826,000
      Market price range: $190k - $908k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,210,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,815,000
      Change: +50% Conversion: Difficult
      MEDICAL BUILDING
      $1,575,000
      Change: +30% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,520,000
      Change: +25% Conversion: Difficult
      RETAIL STORES
      $1,160,000
      Change: -4% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.819
    Latitude
    39.5225
    CBSA code
    39900
    CBSA name
    RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,804
    $154,013
    $98,018
    $252,031
    -
    $440,038
    $280,050
    $720,088

    Comparable in this City

    • Value Estimation by Request
      152 SF

      1st St

      OFFICE BUILDING • 152 SF
      1st St, Reno, NV 89501
      View Details
    • Value Estimation
      $7,300,000
      28,557 SF

      201 Liberty St

      OFFICE BUILDING • 28,557 SF
      201 Liberty St, Reno, NV 89501-2067
      View Details
    • Value Estimation
      $8,100,000
      34,407 SF

      241 Rdg St

      OFFICE BUILDING • 34,407 SF
      241 Rdg St, Reno, NV 89501-2069
      View Details
    • Value Estimation by Request
      2,520 SF

      313 Flint St

      OFFICE BUILDING • 2,520 SF
      313 Flint St, Reno, NV 89501-2005
      View Details
    • Value Estimation
      $4,925,000
      17,818 SF

      165 Liberty St

      OFFICE BUILDING • 17,818 SF
      165 Liberty St, Reno, NV 89501-1955
      View Details
    • Value Estimation
      $600,000
      4,000 SF

      230 Liberty St

      OFFICE BUILDING • 4,000 SF
      230 Liberty St, Reno, NV 89501-2211
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,741 SF

      Updated Office Building in Reno

      Downtown Reno office building with recent updates and parking.
      18 Stewart St, Reno, NV 89501
      View Details
    • Contact for pricing

      Downtown Reno Office Condos

      Multi-level office condos in downtown Reno with recent renovations.
      245 E Liberty St, Reno, NV 89501
      View Details
    • Contact for pricing
      10,120 SF

      Downtown Reno Office Condos

      Renovated office condos in downtown Reno with parking.
      245 E Liberty St, Reno, NV 89501
      View Details
    • $3,300,000

      Office/Medical Office Building For Sale

      Office/Medical office building in a prime downtown location.
      330 E Liberty St, Reno, NV 89501
      View Details
    • Contact for pricing
      17,600 SF

      Redevelopment Opportunity in Midtown Reno

      Redevelopment opportunity with excellent visibility on S Virginia Street.
      1251 S Virginia St, Reno, NV 89501
      View Details
    • Contact for pricing

      Reno/Sparks Industrial Land Parcel

      Large land parcel in Reno/Sparks industrial market.
      N Virginia St, Reno, NV 89501
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Reno Office Space

      Office space in the heart of Downtown Reno.
      100 North Sierra St, Reno, NV 89501
      View Details
    • Contact for pricing

      Downtown Reno Office Space Available

      Office building in Reno's Freight House District for lease.
      300 E 2Nd St, Reno, NV 89501
      View Details
    • Contact for pricing

      Downtown Reno Office Space

      Premier downtown location in the center of it all.
      300 East 2Nd St, Reno, NV 89501
      View Details
    • Contact for pricing

      Downtown Reno Office Space Available

      Professional office space for rent in downtown Reno.
      50 W Liberty St, Reno, NV 89501
      View Details
    • Contact for pricing

      Downtown Reno Class A Office

      Premier office building with gym, parking, and central location.
      100 W Liberty St, Reno, NV 89501
      View Details
    • Contact for pricing

      Class A Office Building

      Downtown Reno Class A office building for lease.
      1 E Liberty St, Reno, NV 89501
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    515 Ct St
    Reno, NV 89501-1710
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!