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Property profile & analytics
FOR SALE
Medical Office Space
5220 Neil Rd Reno, NV 89502
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US62-0414480
For Sale
1 / 17
$2,240,000
5220 Neil Rd, Reno, NV 89502
View Listing →
Property summary
AI-generated overview
This 1,696 square foot office suite, located at 5220 Neil Road, Suite 200, Reno, Nevada 89502, is available for lease. Situated in a Class B building constructed in 1988, this space is part of a larger 10,650 square foot, two-story building with multiple tenants. The suite is ideally located in central Reno, easily accessible from S. McCarran Boulevard. The space features a reception area, several operatory rooms, a dental lab, a private restroom, and a break area, making it well-suited for a dental practice or similar business. The property's zoning is MU (Mixed Use). The building consists of one structure and has a Washoe County APN of 025-371-27. The master lease on the property expires September 1, 2029. This is a fantastic opportunity to secure a well-appointed office space in a convenient Reno location. The maximum contiguous space available is 1,696 square feet.
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1988
Construction
WOOD
Total area
10,650 SF
Lot
0.9 ac (39,224 SF)
Zoning code
MU
APN
025-371-27
UPID
US62-0414480
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
-
Siegrist Christina Dental Office
-
Bertschinger Terry Dental Office
-
Michael S. Gilman, DDS Dental Office
-
Implant & Restorative Dentistry Dental Office
-
Brian E. Evans DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$2.24M
Owner & transaction history
Jlb Properties LLC · 3 yrs held
Jlb Properties LLC
since 2022
1 recorded transaction
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$2,755,000
6.5%
$2,545,000
7%
$2,365,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,715,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,515,000
Change: -5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,405,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$2.24M
Range $2.02M – $2.46M · ±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
$210 / 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
$21,203
Tax year 2023
Assessed value
$603,220
Assessed 2023
Previous assessed
$535,884
+12.6% YoY
Effective rate
3.51%
On assessed value
Assessed land
$171,605
Assessed improvement
$431,615
Land market value
$490,300
Improvement market value
$1,233,187
Total market value
$1,723,487
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
Medical Office Space
Use group
DENTAL BUILDING
Status
For Sale
Year built
1988
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Total area
10,650 SF
Lot
0.9 ac (39,224 SF)
Zoning code
MU
APN
025-371-27
UPID
US62-0414480
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
MEDICAL BUILDING Current
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.4M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1988
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Lot
0.9 ac
Current owner
From public records · entity-resolved
Jlb Properties LLC
Entity
Mailing address
5220 NEIL RD STE #100, RENO, NV 89502-6524
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2022
—
Jlb Properties LLC
—
Deed
related
$1,330,000 · Zb NA
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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