Entity Owned 
For Sale
1 / 34
$1,400,000
647 Humboldt Ave, Wells, NV 89835
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Property summary
AI-generated overview
The property is a tenant-occupied grocery and convenience retail building containing approximately 14,050 square feet situated on about 2.72 acres. The interior layout includes a mezzanine level with two offices, including a manager’s office overlooking the store floor. A loading dock provides rear access for deliveries and operations. The building is located just off Interstate 80 with access serving both local shoppers and pass-through travelers, and it shares a common wall with Wells Auto & Hardware; Family Dollar is located across the street. The building operates under a triple net lease structure and has a newer roof and a parking lot that was recently paved, supporting ongoing retail use.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1993
Construction
FRAME
Total area
14,050 SF
Lot
3 ac (130,680 SF)
Zoning code
TC
APN
002-650-007
UPID
US62-0916506
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Grocery & Convenience Store Food Market
-
Cinema (Bike/Boat/Book/etc) Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.50M
Blend (final)
Blend
$280k
Owner & transaction history
since 2008
2 recorded transactions
Zoning & alternative use
TC · Wells, NV
Zoning description
10-7-9: TC TOURIST COMMERCIAL DISTRICT: The tourist commercial district is established to provide space for highway and tourist related enterprises adjacent to major routes of travel so regulated as to prevent the impair…
General category
COMMERCIAL
Top alternative use upside
Commercial (general)
$1.9M
+11.7%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$280k
Value range
$252k – $308k
±10% around blend
Estimated value / SF
$20 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$252k
blend $280k
$308k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
14,050 SF
Lot area
3 ac
Year built
1993
Stories
1
APN
002-650-007
Zoning
TC
Assessed value
$381,792
Annual tax
$12,369
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$12,369
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.50M
Range $1.09M – $2.13M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$280k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 28 sales
$120
-83%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $20/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+12%
vs current-use indication
Retail Stores · current use
Warehouse, Storage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.19M
Move the market yield to see immediate price impact.
Value / SF
$156
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$138k
$2.76M
$1.97M
$1.53M
$153k
$3.07M
$2.19M
$1.70M
$169k
$3.37M
$2.41M
$1.87M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$12,369
Tax year 2024
Assessed value
$381,792
Assessed 2024
Previous assessed
$381,792
+0.0% YoY
Effective rate
3.24%
On assessed value
Assessed land
$40,432
Assessed improvement
$341,360
Land market value
$115,520
Improvement market value
$975,314
Total market value
$1,090,834
Applied tax rate
12.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Sale
Year built
1993
Construction
FRAME
Heating
FORCED AIR
Stories
1
Units
1
Total area
14,050 SF
Lot
3 ac (130,680 SF)
Zoning code
TC
APN
002-650-007
UPID
US62-0916506
Jurisdiction
ELKO
Zoning & alternative use
TC · Wells, NVZoning TC · permitted uses
TC · Wells, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
10-7-9: TC TOURIST COMMERCIAL DISTRICT: The tourist commercial district is established to provide space for highway and tourist related enterprises adjacent to major routes of travel so regulated as to prevent the impair…
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1993
Construction
FRAME
Heating
FORCED AIR
Stories
1
Units
1
Lot
3 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
TC
COMMERCIAL
Jurisdiction
Wells, NV
Recorded code
TC
Official district
TC
Official district profile
What the municipal code says about TC
Zoning description
10-7-9: TC TOURIST COMMERCIAL DISTRICT: The tourist commercial district is established to provide space for highway and tourist related enterprises adjacent to major routes of travel so regulated as to prevent the impair…
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for TC in Wells, NV.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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