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Property profile & analytics
OFF-MARKET
Estimated value
$6,220,000
Outlet malls
5685 Virginia St Reno, NV 89502-6032
Entity Owned
Free & Clear
Property ID
US62-0097750
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
50,915 SF
Lot
4.15 ac (180,774 SF)
Zoning code
MU
APN
040-131-33
UPID
US62-0097750
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
-
JC Penney Furniture & Home Goods
-
Hobby Lobby (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.49M
Blend (final)
Blend
$6.22M
Owner & transaction history
Fallen Leaf Properties LLC
Fallen Leaf Properties LLC
since 2026
Last sale
$4.9M
7 recorded transactions
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
$6,590,000
ML approach
$6,620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.22M
Range $5.60M – $6.84M · ±10% · vs last sale $4.85M (Dec 28 2021)
Last sale anchor
$4.85M
Dec 28 2021
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
$122 / 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
$68,026
Tax year 2023
Assessed value
$1,955,433
Assessed 2023
Previous assessed
$1,718,536
+13.8% YoY
Effective rate
3.48%
On assessed value
Assessed land
$885,793
Assessed improvement
$1,069,640
Land market value
$2,530,836
Improvement market value
$3,056,113
Total market value
$5,586,949
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
50,915 SF
Lot
4.15 ac (180,774 SF)
Zoning code
MU
APN
040-131-33
UPID
US62-0097750
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.
Building & site characteristics
From public records
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
4.15 ac
Current owner
From public records · entity-resolved
Fallen Leaf Properties LLC
Entity
Free & Clear · 0 yrs held
Mailing address
15 W 6TH ST STE #2400, TULSA, OK 74119-5417
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2026
$410,500
Fallen Leaf Properties LLC
Fallen Leaf Properties LLC
Bargain & Sale Deed
related
—
Jul 17, 2025
$5,150,000
Fallen Leaf Properties LLC
The Gloor Family Trust
Bargain & Sale Deed
—
Dec 28, 2021
—
Regional Transportation Of Commissi
City Of Reno
Quit Claim Deed
related
—
May 23, 2018
—
Department Of Transportation
Regional Transportation Comn O
Quit Claim Deed
related
—
Jun 10, 2011
—
Gloor Family Trust
Gloor,george & Gigi
Quit Claim Deed
related
—
Jan 6, 2011
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Apr 28, 2006
—
Angel Family Trust
Angel,jerry & Susan
Quit Claim Deed
related
—
Sep 7, 1999
$4,850,000
Jerry Angel
Texas LP
Grant Deed
$2,900,000 · Usg Annuity & Life Co
Dec 24, 1998
$3,000,000
Ainbinder/shannon Reno LP
Service Merchandise Co INC
Grant Deed
$3,390,551 · Southwest Bank Of Texas
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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