New search
Property profile & analytics
FOR SALE
Medical Office Space
685 E Prater Way Sparks, NV 89431
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US62-0660602
For Sale
1 / 2
$4,250,000
685 E Prater Way, Sparks, NV 89431
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1980
Construction
WOOD
Total area
10,000 SF
Lot
1.23 ac (53,753 SF)
Zoning code
MUD
APN
033-152-25
UPID
US62-0660602
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.24M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.96M
Owner & transaction history
Rhino Holdings Sparks LLC
Rhino Holdings Sparks LLC
since 2026
3 recorded transactions
Zoning & alternative use
MUD · 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%
$2,430,000
6.5%
$2,240,000
7%
$2,080,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,885,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.96M
Range $1.76M – $2.16M · ±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
$196 / 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
$23,194
Tax year 2023
Assessed value
$661,364
Assessed 2023
Effective rate
3.51%
On assessed value
Assessed land
$289,761
Assessed improvement
$371,603
Land market value
$827,889
Improvement market value
$1,061,723
Total market value
$1,889,612
Applied tax rate
2,000.0000
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 Sale
Year built
1980
Construction
WOOD
Heating
YES
Stories
1
Units
1
Total area
10,000 SF
Lot
1.23 ac (53,753 SF)
Zoning code
MUD
APN
033-152-25
UPID
US62-0660602
Jurisdiction
WASHOE
Zoning & alternative use
MUD · Sparks, NV
Zoning MUD · permitted uses
MUD · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$2.9M
INDUSTRIAL (GENERAL)
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
1980
Construction
WOOD
Heating
YES
Stories
1
Units
1
Lot
1.23 ac
Current owner
From public records · entity-resolved
Rhino Holdings Sparks LLC
Entity
Mailing address
2200 PASEO VERDE PKWY STE #260, HENDERSON, NV 89052-2703
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2026
—
Rhino Holdings Sparks LLC
—
Deed
related
$6,690,000 · Ignite Funding
Dec 18, 2024
—
Rhino Holdings Sparks LLC
—
Deed
related
$2,700,000 · Clark County Cu
Nov 28, 2022
—
Rhino Holdings Sparks LLC
—
Deed
related
$3,605,000 · Andrew Wilson Revocable Trust
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.
