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Property profile & analytics
FOR LEASE
Industrial properties
625 Waltham Way Sparks, NV 89437
Entity Owned
11-yr Hold
Free & Clear
Property ID
US62-0404281
For Lease
$31,500,000
625 Waltham Way, Sparks, NV 89437
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1999
Construction
CONCRETE
Total area
420,000 SF
Lot
23.83 ac (1,038,035 SF)
Zoning code
I-2
APN
005-021-35
UPID
US62-0404281
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
-
Martin Bauer Inc Industrial Manufacturer Production Facility
-
BI NUTRACEUTICALS Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$34.87M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$31.50M
Owner & transaction history
Icon Reno Property Owner Pool 3 Nev · 11 yrs held
Icon Reno Property Owner Pool 3 Nev
since 2015
7 recorded transactions
Zoning & alternative use
I-2 · Sparks, 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 Sparks submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sparks 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$37,775,000
6.5%
$34,870,000
7%
$32,380,000
Blend value · Realmo final
$31.50M
Range $28.35M – $34.65M · ±10%
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
$75 / 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
$209,206
Tax year 2023
Assessed value
$6,549,658
Assessed 2023
Previous assessed
$6,549,658
+0.0% YoY
Effective rate
3.19%
On assessed value
Assessed land
$781,121
Assessed improvement
$5,768,537
Land market value
$2,231,775
Improvement market value
$16,481,535
Total market value
$18,713,310
Applied tax rate
122.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1999
Construction
CONCRETE
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
420,000 SF
Lot
23.83 ac (1,038,035 SF)
Zoning code
I-2
APN
005-021-35
UPID
US62-0404281
Jurisdiction
STOREY
Zoning & alternative use
I-2 · Sparks, NV
Zoning I-2 · permitted uses
I-2 · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sparks. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1999
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
23.83 ac
Current owner
From public records · entity-resolved
Icon Reno Property Owner Pool 3 Nev
Entity
Free & Clear · 11 yrs held
Mailing address
HOUSTON, TX 77056
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2024
—
Icon Reno Property Owner Pool 3 LLC
—
Deed
related
—
Oct 4, 2019
—
Icon Reno Prop Owner Pool 3 Ne
—
Grant Deed
related
—
Apr 1, 2015
—
Icon Reno Property Owner Pool 3 Nev
Bre/reno Property Owner LLC
Bargain And Sale Deed
—
Aug 9, 2013
$17,419,452
Bre Of Reno Property Owner LLC
Prologis Na3 Nv LLC
Grant Deed
—
Oct 2, 2008
—
Prologis Na3 Pa II
—
Deed Of Trust
related
$171,250,000 · Allstate Life Insurance Co
Jul 23, 2007
—
Prologis Na3 Nv LLC
Dp Industrial LLC
Grant Deed
—
Apr 15, 2004
—
Dp Industrial LLC
—
Deed Of Trust
related
$125,000,000 · Allstate Life Insurance Co
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.
Try Rey
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