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    Property profile & analytics

    6500 Virginia St Reno, NV 89511-1117

    • Office buildings
    • 1,064 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Apr 09, 2021
    $379,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0084732
    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

    • Rose Fox - State Farm Insurance Agent / Insurance Agency

    Property Details for 6500 Virginia St

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.19 lot acres
    Property size
    1,064 SF
    Zone code
    MS
    Property type
    Office buildings
    APN
    025-300-21
    APU
    2530021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.784
    Latitude
    39.4673
    CBSA code
    39900
    CBSA name
    RENO-SPARKS, 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
    2023
    $2,668
    $46,346
    $27,602
    $73,948
    -
    $132,416
    $78,862
    $211,278

    Comparable in this City

    • Value Estimation
      $1,905,000
      13,020 SF

      7495 Virginia St

      OFFICE BUILDING • 13,020 SF
      7495 Virginia St, Reno, NV 89511-1113
      View Details
    • Value Estimation
      $9,035,000
      43,925 SF

      5520 Kietzke Ln

      OFFICE BUILDING • 43,925 SF
      5520 Kietzke Ln, Reno, NV 89511-3040
      View Details
    • Value Estimation
      $1,665,000
      2,106 SF

      5442 Longley Ln Ste, Unit 200

      OFFICE BUILDING • 2,106 SF
      5442 Longley Ln Ste, Reno, NV 89511-1882
      View Details
    • Value Estimation by Request
      4,100 SF

      7470 Longley Ln

      OFFICE BUILDING • 4,100 SF
      7470 Longley Ln, Reno, NV 89511-1228
      View Details
    • Value Estimation
      $1,165,000
      6,716 SF

      155 Country Ests Cir

      OFFICE BUILDING • 6,716 SF
      155 Country Ests Cir, Reno, NV 89511-4044
      View Details
    • Value Estimation
      $785,000
      4,222 SF

      5434 Longley Ln

      OFFICE BUILDING • 4,222 SF
      5434 Longley Ln, Reno, NV 89511-1879
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,800 SF

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      Medical/Office Pads Near Hospital

      Multiple medical or office pad options near new medical center.
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      Longley Lane Commercial Land Opportunity

      Prime commercial land with high visibility on Longley Lane.
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      4,200 SF

      New Medical Park Opportunity

      New medical park with customizable spaces available for sale.
      Longley Ln, Reno, NV 89511
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    • $375,000
      1.01 Acres

      Mountain View Homesite in Reno

      One-acre homesite with sweeping, unobstructed mountain views in St. James's Village.
      206 Paddington Ct, Reno, NV 89511
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    Similar Nearby for Lease

    • Contact for pricing

      Class A Office Building

      Well-maintained office building in the Meadowood Submarket.
      5520 Kietzke Ln, Reno, NV 89511
      View Details
    • Contact for pricing

      Four-Building Office Complex in Reno

      232,000 SF office complex in central Reno location.
      5340 Kietzke Ln, Reno, NV 89511
      View Details
    • Contact for pricing

      Class A Office Building

      Multi-tenant office building in central Reno location for rent.
      5470 Kietzke Ln, Reno, NV 89511
      View Details
    • Contact for pricing

      Class A Office Complex

      Four-building office complex with flexible spaces and mountain views.
      5310 Kietzke Ln, Reno, NV 89511
      View Details
    • Contact for pricing
      7,329 SF

      Reno Office Building with Charm

      Unique office building in Reno's Meadowood submarket available for rent.
      5371 Kietzke Ln, Reno, NV 89511
      View Details
    • $2 SF/Yr
      33,072 SF

      Meadowood Office Space Available

      Class A office suites in desirable Meadowood location.
      6121 Lakeside Dr, Reno, NV 89511
      View Details
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    6500 Virginia St
    Reno, NV 89511-1117
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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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