New search
Property profile & analytics
FOR LEASE
Medical Office Space
645 N Arlington Ave Reno, NV 89503
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US62-0319756
For Lease
1 / 4
$28.20 SF/Yr
645 N Arlington Ave, Reno, NV 89503
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Construction
STEEL FRAME
Total area
189,861 SF
Lot
1.69 ac (73,704 SF)
Zoning code
MDNWQ
APN
007-251-31
UPID
US62-0319756
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
-
St Mary's Medical Group: Gray Helen MD Physician
-
Pediatric Associates Pediatrician Medical Clinic
-
Sweetwater Pain and Spine Physician
-
Western Surgical Group Medical Clinic Hospital
-
Jennifer Nicole Ziock-Price, MD Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$85.45M
Blend (final)
Blend
$80.84M
Owner & transaction history
Prime Healthcare Services Reno LLC · 3 yrs held
Prime Healthcare Services Reno LLC
since 2022
Last sale
$80.0M
7 recorded transactions
Zoning & alternative use
MDNWQ · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$101.2M
+52.7%
Restaurant
$77.7M
+17.2%
Neighborhood: shopping center
$76.3M
+15.1%
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 Reno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reno 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
$77,880,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$66,265,000
Current use
COMMERCIAL (GENERAL)
$101,200,000
Change: +53% · Conversion: Easy
RESTAURANT
$77,675,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$76,275,000
Change: +15% · Conversion: Difficult
AUTO REPAIR, GARAGE
$63,890,000
Change: -4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$62,675,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$80.84M
Range $72.75M – $88.92M · ±10% · vs last sale $80.00M (Nov 18 2022)
Last sale anchor
$80.00M
Nov 18 2022
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
$426 / 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
$353,875
Tax year 2023
Assessed value
$17,333,887
Assessed 2023
Previous assessed
$14,095,496
+23.0% YoY
Effective rate
2.04%
On assessed value
Assessed land
$429,551
Assessed improvement
$16,904,336
Land market value
$1,227,288
Improvement market value
$48,298,102
Total market value
$49,525,390
Applied tax rate
1,002.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2004
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
6
Units
1
Total area
189,861 SF
Lot
1.69 ac (73,704 SF)
Zoning code
MDNWQ
APN
007-251-31
UPID
US62-0319756
Jurisdiction
WASHOE
Zoning & alternative use
MDNWQ · Reno, NV
Zoning MDNWQ · permitted uses
MDNWQ · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$66.3M
COMMERCIAL (GENERAL)
Est. value
$101.2M
RESTAURANT
Est. value
$77.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$76.3M
AUTO REPAIR, GARAGE
Est. value
$63.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$62.7M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
6
Units
1
Lot
1.69 ac
Current owner
From public records · entity-resolved
Prime Healthcare Services Reno LLC
Entity
Mailing address
3480 E GUASTI RD, ONTARIO, CA 91761-7684
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2022
$80,000,000
Prime Healthcare Services Reno LLC
Mpt Of Reno LLC
Bargain And Sale Deed
—
Mar 13, 2017
—
Gahc4 Reno Nv Mob LLC
Arlington Medical Props LLC
Grant Deed
—
Oct 20, 2015
—
Arlington Medical Properties L
—
Trustees Deed
related
$29,000 · * Other Institutional Lenders
Sep 20, 2012
$80,000,000
Mpt Of Reno LLC
Prime Healthcare Svcs-reno LLC
Grant Deed
—
Jul 2, 2012
$32,538,500
Prime Healthcare Svcs-reno LLC
Dignity Health
Grant Deed
—
Sep 29, 2005
—
Arlington Medical Props LLC
—
Deed Of Trust
related
$29,000,000 · Miscellaneous Ins Co
—
—
Prime Healthcare Services-reno
—
Deed Of Trust
related
—
—
—
Arlington Medical Properties L
—
Loan Modification
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
