Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    623 Washington St Carson City, NV 89703-3802
    Back to Search
    Property profile & analytics

    623 Washington St Carson City, NV 89703-3802

    View on Map
    • Office buildings
    • 2,800 SF
    • 0.25 lot acres
    Off-Market
    Last Sale Dec 31, 2020
    $585,000
    Property ID
    US62-0440945
    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
    $655,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • reAlign, LLC / Gym & Fitness Center
    • Szatmary Nanci Aud / Physician
    • Center for Psychological Wellbeing / Crisis Center / Medical Clinic
    • Constance J. Sheltren, PHD / Physician / Medical Clinic
    • Dr. John Hanson / Physician / Medical Clinic

    Property Details for 623 Washington St

    Year built
    1986
    Lot size
    0.25 lot acres
    Property size
    2,800 SF
    Zone code
    RO
    Property type
    Office buildings
    APN
    003-273-02
    APU
    327302

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $660,000
      ML approach
      $670,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $787,000
      Market price range: $401k - $874k
      AI Estimate
      $406,000
      Market price range: $109k - $515k

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

    Location Insight

    • Map
    • Local Demand
    City
    Carson City
    County
    Carson City
    State
    Nevada
    Longitude
    -119.771
    Latitude
    39.1683
    CBSA code
    16180
    CBSA name
    CARSON CITY, 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
    2024
    $5,437
    $64,033
    $88,225
    $152,258
    -
    $182,952
    $252,071
    $435,023

    Comparable in this City

    • Value Estimation by Request
      924 SF

      1008 Curry St

      PROFESSIONAL BUILDING • 924 SF
      1008 Curry St, Carson City, NV 89703-3918
      View Details
    • Value Estimation
      $600,000
      3,620 SF

      505 Telegraph St

      PROFESSIONAL BUILDING • 3,620 SF
      505 Telegraph St, Carson City, NV 89703
      View Details
    • Value Estimation
      $585,000
      3,114 SF

      108 Minnesota St

      PROFESSIONAL BUILDING • 3,114 SF
      108 Minnesota St, Carson City, NV 89703-4975
      View Details
    • Value Estimation
      $520,000
      2,817 SF

      410 Minnesota St

      PROFESSIONAL BUILDING • 2,817 SF
      410 Minnesota St, Carson City, NV 89703-4272
      View Details
    • Value Estimation
      $1,975,000
      12,192 SF

      844 Nye Ln

      PROFESSIONAL BUILDING • 12,192 SF
      844 Nye Ln, Carson City, NV 89703-1577
      View Details
    • Value Estimation by Request
      1,853 SF

      208 Curry St

      PROFESSIONAL BUILDING • 1,853 SF
      208 Curry St, Carson City, NV 89703-4121
      View Details

    Similar Nearby for Sale

    • $425,000
      1,511 SF

      Historic Office Bungalow For Sale

      Charming 1922 bungalow with Craftsman architecture and ample parking.
      990 N Minnesota St, Carson City, NV 89703
      View Details
    • $6,182,400
      44,800 SF

      Carson City Office Building For Sale

      44,800 SF office building in downtown Carson City, Nevada.
      1340 S Curry St, Carson City, NV 89703
      View Details
    • $4,100,000
      35,426 SF

      Carson City Office Building Investment

      Prime Carson City Office, 35,426 SF
      400 King St, Carson City, NV 89703
      View Details
    • $4,113,634

      Carson City Medical Parkway Building

      Multi-tenant medical building within Carson-Tahoe Medical Campus, 100% leased.
      1493 Medical Pkwy, Carson City, NV 89703
      View Details
    • $369,000
      0.20 Acres

      Silver Oak Premier Lot

      Beautiful level lot in Silver Oak, build your custom home.
      1775 Vineyard Way, Carson City, NV 89703
      View Details
    • $333,000

      Land For Sale

      Land available on Buckskin Road, Carson City.
      3733 Buckskin Rd, Carson City, NV 89703
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr

      Carson City Office Building

      Four-story office building available for rent in Carson City.
      400 W King St, Carson City, NV 89703
      View Details
    • Contact for pricing
      1,205 SF

      West Carson City Office Space

      Multi-tenant professional office building in west Carson City for rent.
      896 W Nye Ln, Carson City, NV 89703
      View Details
    • $16 SF/Yr

      Central Northwest Office Space Available

      High visibility office space with built-in workstations and parking.
      321 W Winnie Ln, Carson City, NV 89703
      View Details
    • Contact for pricing

      Charming West Side Office Space

      West side office space available for rent.
      444 W Washington St, Carson City, NV 89703
      View Details
    • $1.50 SF/Yr
      1,043 SF

      Westside Office Space Available

      Office space for rent in a great westside location.
      1177 N Division St, Carson City, NV 89703
      View Details
    • Contact for pricing
      1,979 SF

      Medical Parkway Office Space Available

      Second floor office space for lease with TI allowance.
      1470 Medical Pkwy, Carson City, NV 89703
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    623 Washington St
    Carson City, NV 89703-3802
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    623 Washington St, Carson City, NV, 89703
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!