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Property profile & analytics
OFF-MARKET
Estimated value
$3,910,000
Medical Office Space
5465 Reno Corporate Dr Reno, NV 89511-2250
Entity Owned
6-yr Hold
Free & Clear
Property ID
US62-0008691
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2019
Construction
WOOD
Total area
11,928 SF
Lot
0.21 ac (9,164 SF)
Zoning code
PO
APN
164-471-08
UPID
US62-0008691
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
-
Center Of Hope Physician
-
Dr. Peter C. Lim, MD Physician Medical Clinic
-
Dr. Crystal Adams Physician
-
Crystal l . Adams Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.38M
CAP Approach
CAP
$2.85M
Comparable Approach
Comparable
$4.74M
Blend (final)
Blend
$3.91M
Owner & transaction history
Lml Properties LLC · 6 yrs held
Lml Properties LLC
since 2020
Last sale
$3.8M
7 recorded transactions
Zoning & alternative use
PO · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The PO district provides for office conversions and small office developments and is considered appropriate in transitional areas designated on the Master Plan or adjacent to residential districts.
Zone name
Professional Office
General category
RESIDENTIAL
Zone area
180.68 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$6.4M
+45.2%
Restaurant
$4.9M
+11.4%
Neighborhood: shopping center
$4.8M
+9.4%
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
$3,875,000
ML approach
$4,375,000
CAP Approach
CAP Return
Estimation
6%
$3,090,000
6.5%
$2,850,000
7%
$2,645,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,380,000
Current use
COMMERCIAL (GENERAL)
$6,360,000
Change: +45% · Conversion: Easy
RESTAURANT
$4,880,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,790,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,015,000
Change: -8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,940,000
Change: -10% · Conversion: Moderate
OFFICE BUILDING
$3,605,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$3.91M
Range $3.52M – $4.30M · ±10% · vs last sale $3.81M (Apr 23 2020)
Last sale anchor
$3.81M
Apr 23 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
$328 / 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
$38,021
Tax year 2023
Assessed value
$1,100,277
Assessed 2023
Previous assessed
$961,625
+14.4% YoY
Effective rate
3.46%
On assessed value
Assessed land
$172,558
Assessed improvement
$927,719
Land market value
$493,024
Improvement market value
$2,650,626
Total market value
$3,143,650
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
MEDICAL BUILDING
Status
Off-Market
Year built
2019
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
11,928 SF
Lot
0.21 ac (9,164 SF)
Zoning code
PO
APN
164-471-08
UPID
US62-0008691
Jurisdiction
WASHOE
Zoning & alternative use
PO · Reno, NVZoning PO · permitted uses
PO · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The PO district provides for office conversions and small office developments and is considered appropriate in transitional areas designated on the Master Plan or adjacent to residential districts.
Zone name
Professional Office
General category
RESIDENTIAL
Zone area
180.68 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$6.4M
RESTAURANT
Est. value
$4.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$4.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.9M
OFFICE BUILDING
Est. value
$3.6M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
2019
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Lml Properties LLC
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 11367, RENO, NV 89510-1367
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2020
—
Lml Properties LLC
—
Deed
related
$1,894,463 · Bank Of West
Apr 23, 2020
$3,806,500
Lml Properties LLC
Rpc Business Park LLC
Correction Deed
related
—
Apr 23, 2020
—
Lml Properties LLC
—
Deed
related
$1,894,463 · Bank Of The West
Apr 20, 2020
$3,806,500
Lml Properties LLC
Rpc Business Park LLC
Grant Deed
$107,030 · Bank Of The West
—
—
Lml Properties LLC
—
Deed Of Trust
related
$1,515,570 · Bank Of The West
—
—
Lml Properties LLC
—
Deed Of Trust
related
$1,559,000 · Nevada St Dev
—
—
Lml Properties LLC
—
Deed Of Trust
related
$1,894,463 · Bank Of West
—
—
Lml Properties LLC
—
Deed Of Trust
related
$1,894,463 · Bank Of The West
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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