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Property profile & analytics
OFF-MARKET
Estimated value
$104,095,000
Hotels
516 Ww St Reno, NV 89503
Entity Owned
10-yr Hold
Free & Clear
Property ID
US62-0429180
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1985
Construction
FRAME
Total area
321,489 SF
Lot
1.28 ac (55,887 SF)
Zoning code
MDED
APN
007-261-28
UPID
US62-0429180
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
-
Circus Circus Reno Sky Tower Parking Garage Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$143.63M
Blend (final)
Blend
$104.10M
Owner & transaction history
Ccr Newco LLC · 10 yrs held
Ccr Newco LLC
since 2015
4 recorded transactions
Zoning & alternative use
MDED · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$171.4M
+61.2%
Restaurant
$131.5M
+23.8%
Neighborhood: shopping center
$129.2M
+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
$106,280,000
Current use
COMMERCIAL (GENERAL)
$171,360,000
Change: +61% · Conversion: Difficult
RESTAURANT
$131,525,000
Change: +24% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$129,150,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$112,210,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$108,185,000
Change: +2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$106,130,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$85,230,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$104.10M
Range $93.69M – $114.50M · ±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
$324 / 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
$115,822
Tax year 2023
Assessed value
$8,892,139
Assessed 2023
Previous assessed
$6,408,254
+38.8% YoY
Effective rate
1.30%
On assessed value
Assessed land
$613,946
Assessed improvement
$8,278,193
Land market value
$1,754,130
Improvement market value
$23,651,981
Total market value
$25,406,111
Applied tax rate
1,001.0000
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
1985
Construction
FRAME
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Buildings
3
Stories
27
Units
906
Total area
321,489 SF
Lot
1.28 ac (55,887 SF)
Zoning code
MDED
APN
007-261-28
UPID
US62-0429180
Jurisdiction
WASHOE
Zoning & alternative use
MDED · Reno, NV
Zoning MDED · permitted uses
MDED · 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
$106.3M
COMMERCIAL (GENERAL)
Est. value
$171.4M
RESTAURANT
Est. value
$131.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$129.2M
MEDICAL BUILDING
Est. value
$112.2M
AUTO REPAIR, GARAGE
Est. value
$108.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$106.1M
OFFICE BUILDING
Est. value
$85.2M
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
1985
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
27
Buildings
3
Units
906
Lot
1.28 ac
Current owner
From public records · entity-resolved
Ccr Newco LLC
Entity
Free & Clear · 10 yrs held
Mailing address
PO BOX 543185, DALLAS, TX 75354-3185
Ownership since
2015
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 31, 2023
—
Ccr Newco LLC
—
Deed
related
—
Feb 12, 2021
—
Ccr Newco LLC
—
Deed
related
$458,500,000 · Us Bank NA
Jun 8, 2017
—
Ccr Newco LLC
—
Grant Deed
related
—
Nov 23, 2015
—
Ccr Newco LLC
Circus Circus Casinos INC
Grant 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.
Try Rey
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