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    6 Cal Ln Sparks, NV 89431-6233
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    Property profile & analytics

    6 Cal Ln, Sparks, NV 89431-6233

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    • Office buildings
    • 11,416 SF
    • 0.48 lot acres
    Off-Market
    Last Sale Oct 15, 2021
    $1,700,000
    Property ID
    US62-0410301
    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.
    Value Estimations
    $1,865,000
    Show details
    Cap Rate Potential
    8.8%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Reno Rennsport Porsche Service Repair / Auto Repair Shop / Vehicle Inspection Center
    • Reno Rennsport / Auto Repair Shop
    • Vogue Linen Supply / Department Store
    • Final Finish Autobody Restorations / Auto Repair Shop
    • BMW Independent Services / Auto Repair Shop

    Property Details for 6 Cal Ln

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.48 lot acres
    Zone code
    I
    Property type
    Office buildings
    APN
    034-300-04
    APU
    3430004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,970,000
      ML approach
      $1,910,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,041,000
      Market price range: $2.04M - $4.51M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,950,000
      Current use
      RETAIL STORES
      $3,060,000
      Change: +4% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,865,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparks
    County
    Washoe
    State
    Nevada
    Longitude
    -119.744
    Latitude
    39.5244
    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
    $5,068
    $76,679
    $72,377
    $149,056
    -
    $219,082
    $206,791
    $425,873

    Comparable in this City

    • Value Estimation by Request
      1,522 SF

      327 Pyramid Way

      OFFICE BUILDING
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      1,357 SF

      716 H St

      OFFICE BUILDING
      716 H St, Sparks, NV 89431-4460
      View Details
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      2,519 SF

      175 Nugget Ave

      OFFICE BUILDING
      175 Nugget Ave, Sparks, NV 89431-5765
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    • Value Estimation
      $2,000,000
      1,600 SF

      990 Glendale Ave

      OFFICE BUILDING
      990 Glendale Ave, Sparks, NV 89431-5722
      View Details
    • Value Estimation by Request
      732 SF

      1702 I St

      OFFICE BUILDING
      1702 I St, Sparks, NV 89431-4343
      View Details
    • Value Estimation
      $3,480,000
      25,520 SF

      1105 Kleppe Ln

      OFFICE BUILDING
      1105 Kleppe Ln, Sparks, NV 89431-6466
      View Details

    Similar Nearby for Sale

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    • $5,500,000
      28,490 SF

      Multi-Tenant Medical/Office/Lab Property

      28,490 SF multi-tenant medical/office/lab property in Sparks, NV.
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    • $610,000

      Renovated Office Conversion with Studio

      Two-story office conversion with studio in downtown Sparks.
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    • New
      $515,000
      2,000 SF

      Sparks, NV Commercial Property

      Commercial property in Sparks, NV with tenant in place.
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    • $395,000
      1,260 SF

      Sparks Office Condo For Sale

      Well-maintained office condo in Wildcreek Business Park, Sparks.
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    • $779,000
      1,648 SF

      Mixed-Use Property on Rock Blvd

      Mixed-use property ideal for medical, dental, or professional services.
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      View Details

    Similar Nearby for Lease

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      2,526 SF

      Sparks Warehouse with Drive-Through Access

      2,526 SF warehouse with drive-through and private offices.
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      View Details
    • Contact for pricing
      1,568 SF

      Sparks Office Space Available Soon

      Well-maintained Sparks office space, move-in ready, available 6/30/24.
      1301 N Mccarran Blvd, Sparks, NV 89431
      View Details
    • Contact for pricing

      Greenbrae Commons Retail/Office Space

      Office and retail spaces for rent in Sparks, Nevada.
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      View Details
    • $3,000 /Mo

      Sparks Commercial Space with Garages

      Versatile commercial space in Sparks with office and garage units.
      1953-1/2 Prater Way, Sparks, NV 89431
      View Details
    • $1.25 SF/Yr

      Industrial Building in Sparks Submarket

      11,400 SF industrial building with dock and grade doors.
      610 E Glendale Ave, Sparks, NV 89431
      View Details
    • Contact for pricing
      700 SF

      Greenbrae Drive Office Space

      Office space in Sparks, NV, with recent upgrades.
      680 Greenbrae Dr, Sparks, NV 89431
      View Details
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    Sparks, NV 89431-6233
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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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