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    Property profile & analytics

    623 Washington St Carson City, NV 89703-3802

    • Office buildings
    • 2,800 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Dec 31, 2020
    $585,000
    Value Estimations
    $655,000
    Show details
    Cap Rate Potential
    Location Intelligence
    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.

    Current Use by Public Records

    • reAlign, LLC / Pilates Studio
    • Szatmary Nanci Aud / Audiologist
    • Center for Psychological Wellbeing / Mental Health Service
    • Constance J. Sheltren, PHD / Psychologist / Marriage Or Relationship Counselor
    • Dr. John Hanson / Psychologist

    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 valuation — 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
      $255,000
      1,428 SF

      911 Mtn St

      PROFESSIONAL BUILDING • 1,428 SF
      911 Mtn St, Carson City, NV 89703-3819
      View Details
    • Value Estimation
      $450,000
      12,677 SF

      1460 Curry St

      PROFESSIONAL BUILDING • 12,677 SF
      1460 Curry St, Carson City, NV 89703-5100
      View Details
    • Value Estimation
      $355,000
      1,616 SF

      913 Nevada St

      PROFESSIONAL BUILDING • 1,616 SF
      913 Nevada St, Carson City, NV 89703-3993
      View Details
    • Value Estimation
      $2,970,000
      10,665 SF

      1525 Vis Ln

      PROFESSIONAL BUILDING • 10,665 SF
      1525 Vis Ln, Carson City, NV 89703-4652
      View Details
    • Value Estimation
      $245,000
      2,897 SF

      212 Ann St

      OFFICE BUILDING • 2,897 SF
      212 Ann St, Carson City, NV 89703-3901
      View Details
    • Value Estimation
      $385,000
      10,435 SF

      3860 Gs Richards Blvd

      PROFESSIONAL BUILDING • 10,435 SF
      3860 Gs Richards Blvd, Carson City, NV 89703-8422
      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
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    • $4,100,000
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      Carson City Office Building Investment

      Prime Carson City Office, 35,426 SF
      400 King St, Carson City, NV 89703
      View Details
    • $425,000
      1,511 SF

      Historic Carson City Office Building

      Charming 1,511 SF Office, 9 Parking Spaces
      990 Minnesota St, Carson City, NV 89703
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    • $2,695,000
      5,580 SF

      Dental/Orthodontics Office For Sale

      Two-story dental/orthodontics office with basement, fully leased investment property.
      525 W Washington St, Carson City, NV 89703
      View Details
    • $6,018,000
      6.20 Acres

      Carson City Apartment Site

      Prime 6.2-acre development land
      0 Gs Richards Blvd, Carson City, NV 89703
      View Details

    Similar Nearby for Lease

    • 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
    • $17 SF/Yr
      10,728 SF

      Carson City Executive Office Space

      Prime Carson City office, 1,392 sq ft available.
      844 Nye Ln, Carson City, NV 89703
      View Details
    • Contact for pricing
      3,493 SF

      Carson City Office Space

      Office space available for rent in Carson City, Nevada.
      1525 Vista Ln, Carson City, NV 89703
      View Details
    • $19 SF/Yr
      35,426 SF

      Prime Carson City Office Space

      Executive Suites, 10+ Spaces Available
      400 King St, Carson City, NV 89703
      View Details
    • $39 SF/Yr
      3,288 SF

      Carson City Executive Office Space

      Prime Carson City office, renovated 2020.
      444 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
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    623 Washington St
    Carson City, NV 89703-3802
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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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