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    Property profile & analytics

    6119 Ridgeview Ct Reno, NV 89519-6342

    • Office buildings
    • 8,265 SF
    • 0.61 lot acres
    OFF-MARKET
    Last Sale
    Nov 13, 2023
    $2,000,000
    Value Estimations
    $1,850,000
    Show details
    Cap Rate Potential
    8.6%
    Office buildings
    Location Intelligence
    Property ID
    US62-0471097
    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

    • Design Financial / Mortgage Lender
    • Rubin Steven E MD / Neurologist
    • Parrish Appraisal Services / Real Estate Appraiser
    • National Re Sources Inc / Insurance Agency
    • Wild Roots Occupational Therapy / Occupational Therapist

    Property Details for 6119 Ridgeview Ct

    Year built
    1990
    Construction
    WOOD
    Lot size
    0.61 lot acres
    Property size
    8,265 SF
    Zone code
    PO
    Property type
    Office buildings
    APN
    042-221-16
    APU
    4222116

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,810,000
      ML approach
      $1,990,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,595,000
      6.5%
      $2,400,000
      7%
      $2,225,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,881,000
      Market price range: $1.52M - $3.15M

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.81
    Latitude
    39.4725
    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
    $15,191
    $115,299
    $316,668
    $431,967
    -
    $329,425
    $904,765
    $1,234,190

    Comparable in this City

    • Value Estimation
      $250,000
      1,080 SF

      6165 Ridgeview Ct Ste A

      OFFICE BUILDING • 1,080 SF
      6165 Ridgeview Ct Ste A, Reno, NV 89519-6332
      View Details
    • Value Estimation
      $320,000
      1,170 SF

      6165 Ridgeview Ct E E Ste

      OFFICE BUILDING • 1,170 SF
      6165 Ridgeview Ct E E Ste, Reno, NV 89519-6332
      View Details
    • Value Estimation
      $1,070,000
      37,410 SF

      6005 Plumas St

      OFFICE BUILDING • 37,410 SF
      6005 Plumas St, Reno, NV 89519-6078
      View Details
    • Value Estimation
      $1,045,000
      2,496 SF

      4777 Caughlin Pkwy

      OFFICE BUILDING • 2,496 SF
      4777 Caughlin Pkwy, Reno, NV 89519-0906
      View Details
    • Value Estimation
      $265,000
      6,415 SF

      1100 Caughlin Xing

      OFFICE BUILDING • 6,415 SF
      1100 Caughlin Xing, Reno, NV 89519-0648
      View Details
    • Value Estimation
      $780,000
      2,856 SF

      6170 Ridgeview Ct Ste C

      OFFICE BUILDING • 2,856 SF
      6170 Ridgeview Ct Ste C, Reno, NV 89519-6331
      View Details

    Similar Nearby for Sale

    • $430,000

      Medical Office Condo Investment

      Leased medical office condo with approximately 3.5 years remaining.
      6165 Ridgeview Ct, Reno, NV 89519
      View Details
    • $1,395,000
      12.41 Acres

      Reno Land Development Opportunity

      Exceptional mountain-top parcel for development or family estate.
      Woodchuck Cir, Reno, NV 89519
      View Details
    • New
      $300,000
      0.28 Acres

      Residential Land in Caughlin Ranch

      Homesite in Caughlin Ranch, build your dream home!
      4795 Buckhaven Ct, Reno, NV 89519
      View Details
    • $410,000
      0.57 Acres

      Reno Land in Quail Valley

      Premium homesite in Reno's sought-after Caughlin Ranch community.
      4935 Sierra Pine Dr, Reno, NV 89519
      View Details
    • $14,000,000

      Southwest Reno Land Opportunity

      Land available in highly desired Southwest Reno submarket.
      6000 Plumas St, Reno, NV 89519
      View Details
    • $350,000
      0.35 Acres

      Reno Land with Architectural Plans

      Prime homesite in gated community with included architectural plans.
      4856 Buckhaven Rd, Reno, NV 89519
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,779 SF

      Class A Office Space Available

      Class A office building in prime Reno location for lease.
      6005 Plumas St, Reno, NV 89519
      View Details
    • Contact for pricing
      14,617 SF

      Prime Office Space in Reno

      Two-story office building in Meadowood Submarket, close to amenities.
      6140 Plumas St, Reno, NV 89519
      View Details
    • $22 SF/Yr
      6,415 SF

      West Reno Office Space for Lease

      Prime West Reno location, multiple suites available.
      1100 Caughlin Xing, Reno, NV 89519
      View Details
    • $43 SF/Yr
      248 SF

      Office Space in Reno, NV

      Office space available for lease in Reno, Nevada.
      4747 Caughlin Pkwy, Reno, NV 89519
      View Details
    • $2 SF/Yr
      2,720 SF

      Professional Office Space Available

      Two-story office building in Meadowood Submarket with recent interior improvements.
      6100 Plumas St, Reno, NV 89519
      View Details
    • $2 SF/Yr
      10,721 SF

      Reno Office Space For Lease

      10,721 square foot office space available for lease.
      6160 Plumas St, Reno, NV 89519
      View Details
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    6119 Ridgeview Ct
    Reno, NV 89519-6342
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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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