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Property profile & analytics
FOR LEASE
Office buildings
5520 Kietzke Ln Reno, NV 89511
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US62-0816040
For Lease
1 / 3
$9,035,000
5520 Kietzke Ln, Reno, NV 89511
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
43,925 SF
Lot
2.27 ac (98,881 SF)
Zoning code
SPD
APN
040-972-44
UPID
US62-0816040
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
-
Keith Ronald Davis - Private Wealth Advisor, Ameriprise Financial Services, LLC Financial Advisor
-
Ashley Quinn Cpas & Consultants Tax Preparation
-
Prologis Construction Company General Contractor
-
Colliers Real Estate Agency
-
McKenzie Properties Management, Inc. Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.85M
Blend (final)
Blend
$9.04M
Owner & transaction history
Mckenzie Capital Partners LLC · 7 yrs held
Mckenzie Capital Partners LLC
since 2019
3 recorded transactions
Zoning & alternative use
SPD · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$14.8M
+11.4%
Apartment house (5+ units)
$14.5M
+9.3%
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
OFFICE BUILDING
$13,270,000
Current use
AUTO REPAIR, GARAGE
$14,780,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$14,500,000
Change: +9% · Conversion: Easy
RETAIL STORES
$11,290,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$9.04M
Range $8.13M – $9.94M · ±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
$206 / 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
$149,633
Tax year 2023
Assessed value
$4,400,297
Assessed 2023
Previous assessed
$3,784,278
+16.3% YoY
Effective rate
3.40%
On assessed value
Assessed land
$449,909
Assessed improvement
$3,950,388
Land market value
$1,285,453
Improvement market value
$11,286,823
Total market value
$12,572,276
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
4
Units
1
Total area
43,925 SF
Lot
2.27 ac (98,881 SF)
Zoning code
SPD
APN
040-972-44
UPID
US62-0816040
Jurisdiction
WASHOE
Zoning & alternative use
SPD · Reno, NV
Zoning SPD · permitted uses
SPD · 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
OFFICE BUILDING Current
Est. value
$13.3M
AUTO REPAIR, GARAGE
Est. value
$14.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.5M
RETAIL STORES
Est. value
$11.3M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
4
Units
1
Lot
2.27 ac
Current owner
From public records · entity-resolved
Mckenzie Capital Partners LLC
Entity
Mailing address
5520 KIETZKE LN STE #400, RENO, NV 89511-3041
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2019
—
Mckenzie Capital Partners LLC
—
Deed
related
$8,400,000 · Miscellaneous Ins Co
Nov 21, 2017
—
Mckenzie Capital Partners LLC
—
Grant Deed
related
$8,750,000 · Umpqua Bk
—
—
Mckenzie Capital Partners LLC
—
Deed Of Trust
related
$8,400,000 · Miscellaneous Ins Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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