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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    550 Hammill Ln Reno, NV 89511-2045

    • Medical offices
    • 3,468 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    Apr 15, 2021
    $1,160,000
    Value Estimations
    $1,175,000
    Show details
    Cap Rate Potential
    4.3%
    Medical offices
    Location Intelligence
    Property ID
    US62-0048506
    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.

    Current Use by Public Records

    • Brunelli Dental Partners - Reno / Dentist
    • Morrigan Hannah Drew / Dentist
    • Morrigan Drew / Dentist / Practitioner Service Location
    • Dr. Anthony Brunelli / Dentist / Practitioner Service Location

    Property Details for 550 Hammill Ln

    Year built
    1998
    Construction
    WOOD
    Lot size
    0.08 lot acres
    Property size
    3,468 SF
    Zone code
    PO
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    040-910-03
    APU
    4091003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,250,000
      ML approach
      $1,255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $900,000
      6.5%
      $830,000
      7%
      $770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,240,000
      Market price range: $1.03M - $1.54M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,275,000
      Current use
      COMMERCIAL (GENERAL)
      $1,850,000
      Change: +45% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,395,000
      Change: +9% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,165,000
      Change: -8% Conversion: Difficult
      OFFICE BUILDING
      $1,050,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.794
    Latitude
    39.4718
    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
    $9,505
    $84,966
    $203,150
    $288,116
    -
    $242,760
    $580,429
    $823,189

    Comparable in this City

    • Value Estimation
      $2,910,000
      13,893 SF

      5470 Reno Corporate Dr

      MEDICAL BUILDING • 13,893 SF
      5470 Reno Corporate Dr, Reno, NV 89511-2250
      View Details
    • Value Estimation
      $3,855,000
      11,928 SF

      5465 Reno Corporate Dr

      MEDICAL BUILDING • 11,928 SF
      5465 Reno Corporate Dr, Reno, NV 89511-2250
      View Details
    • Value Estimation
      $1,725,000
      4,122 SF

      5448 Reno Corporate Dr

      MEDICAL BUILDING • 4,122 SF
      5448 Reno Corporate Dr, Reno, NV 89511-2620
      View Details
    • Value Estimation
      $1,960,000
      4,039 SF

      5456 Reno Corporate Dr

      DENTAL BUILDING • 4,039 SF
      5456 Reno Corporate Dr, Reno, NV 89511-2250
      View Details
    • Value Estimation
      $595,000
      17,248 SF

      5423 Reno Corporate Dr

      MEDICAL BUILDING • 17,248 SF
      5423 Reno Corporate Dr, Reno, NV 89511-2250
      View Details
    • Value Estimation
      $830,000
      8,356 SF

      8025 Virginia St

      MEDICAL BUILDING • 8,356 SF
      8025 Virginia St, Reno, NV 89511-8940
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,200 SF

      Reno Medical Office Space for Lease

      Class A Medical Office, Build-to-Suit Options
      0 Longley Ln, Reno, NV 89511
      View Details
    • $3,780,000
      13,800 SF

      Reno Commercial Building on Longley

      13,800 SF commercial building in Reno's Longley Corridor.
      7025 Longley Ln, Reno, NV 89511
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    • $3,750,000
      14,169 SF

      Reno Office Building: High Cap Rate

      14,169 SF Office Building, 6% Cap Rate
      515 Double Eagle Ct, Reno, NV 89511
      View Details
    • $2,400,000
      5,204 SF

      Reno Office Building For Sale

      5,204 SF office building available in Reno, Nevada.
      6745 Sierra Center Pkwy, Reno, NV 89511
      View Details
    • $1,000,000

      Longley Lane QSR Pad - Reno, NV

      Prime Reno QSR Land, High Visibility
      000 Longley Ln, Reno, NV 89511
      View Details
    • $2,200,000

      Longley Lane QSR/Fast Food Pad

      Prime Reno location, build-to-suit opportunity. High visibility, strong demographics.
      00 Longley Ln, Reno, NV 89511
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      4,800 SF

      Reno Medical Office Space for Lease

      4,800 sq ft Medical Office in Reno, NV
      5270 Longley Ln, Reno, NV 89511
      View Details
    • $7 SF/Yr
      5,157 SF

      Sierra Rose Professional Office Space

      Professional office space in South Reno, ideal for medical use.
      601 Sierra Rose Dr, Reno, NV 89511
      View Details
    • Contact for pricing

      Medical/Office Pads Near Hospital

      Multiple medical or office pad options near new medical center.
      550 Maestro Dr, Reno, NV 89511
      View Details
    • $48 SF/Yr
      56,589 SF

      Mountain View Corporate Center Office Space

      Class A Reno office, 2,890 SF available.
      5470 Kietzke Ln, Reno, NV 89511
      View Details
    • $42 SF/Yr
      15,000 SF

      Reno Corporate Office Suites

      Class B office space, South Reno.
      5476 Reno Corporate Dr, Reno, NV 89511
      View Details
    • $16 SF/Yr
      1,171 SF

      Reno Office Space Available

      Office space available for lease in Reno, Nevada.
      5303 Louie Ln, Reno, NV 89511
      View Details
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    550 Hammill Ln
    Reno, NV 89511-2045
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    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
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