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Property profile & analytics
OFF-MARKET
Estimated value
$4,225,000
Medical Office Space
555 Arlington Ave Reno, NV 89503-4723
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US62-0829568
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,585 SF
Lot
2.06 ac (89,734 SF)
Zoning code
MDNWQ
APN
007-254-25
UPID
US62-0829568
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
-
Reno Orthopaedic Clinic: Blakey Richard W MD Physician
-
Bradley S. Buckler, PTA Physician
-
Tompkins David C Physician
-
Jessica L. Yurtinus, MSPT Physician
-
Reno Orthopedic Clinic: Medical Plaza Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.97M
Comparable Approach
Comparable
$4.16M
Blend (final)
Blend
$4.23M
Owner & transaction history
Reno Orthopaedic Props LLC · 8 yrs held
Reno Orthopaedic Props LLC
since 2018
6 recorded transactions
Zoning & alternative use
MDNWQ · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.8M
+17.2%
Neighborhood: shopping center
$6.7M
+15.1%
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%
$4,295,000
6.5%
$3,965,000
7%
$3,680,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$5,790,000
Current use
RESTAURANT
$6,785,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,665,000
Change: +15% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,580,000
Change: -4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,475,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$4.23M
Range $3.80M – $4.65M · ±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
$255 / 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
$485,149
Tax year 2023
Assessed value
$12,992,673
Assessed 2023
Previous assessed
$10,611,715
+22.4% YoY
Effective rate
3.73%
On assessed value
Assessed land
$464,822
Assessed improvement
$12,527,851
Land market value
$1,328,063
Improvement market value
$35,793,859
Total market value
$37,121,922
Applied tax rate
1,002.0000
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Buildings
3
Stories
1
Units
3
Total area
16,585 SF
Lot
2.06 ac (89,734 SF)
Zoning code
MDNWQ
APN
007-254-25
UPID
US62-0829568
Jurisdiction
WASHOE
Zoning & alternative use
MDNWQ · Reno, NV
Zoning MDNWQ · permitted uses
MDNWQ · 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
$5.8M
RESTAURANT
Est. value
$6.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
AUTO REPAIR, GARAGE
Est. value
$5.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.5M
MEDICAL BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
2.06 ac
Current owner
From public records · entity-resolved
Reno Orthopaedic Props LLC
Entity
Free & Clear · 8 yrs held
Mailing address
350 W 6TH ST STE E1, RENO, NV 89503-4509
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2024
—
Reno Orthopaedic Properties LLC
—
Deed
related
$11,000,000 · Bank Of America NA
Jun 5, 2020
—
Reno Orthopaedic Prop LLC
—
Deed Of Trust
related
—
Mar 28, 2019
—
Reno Orthopaedic Prop LLC
—
Trustees Deed
related
$42,480,000 · Bank Of America
Jan 22, 2018
—
Reno Orthopaedic Props LLC
Reno Orthopaedic Props LLC
Quit Claim Deed
related
—
Sep 27, 2012
—
Reno Orthopaedic Props LLC
—
Loan Modification
related
$9,350,000 · First Independent Bk
Jun 25, 2007
$7,800,000
Reno Orthopaedic Props LLC
Nevada Street Properties LLC
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.
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