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    6855 Virginia St Reno, NV 89511-1120
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    Property profile & analytics

    6855 Virginia St Reno, NV 89511-1120

    View on Map
    • Hotels
    • 63,475 SF
    • 2.43 lot acres
    Off-Market
    Property ID
    US62-0100934
    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.
    Value Estimations
    $20,760,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Courtyard Reno / Hotel & Motel
    • The Bistro – Eat. Drink. Connect.® / Restaurant
    • 6855 South Virginia Street Parking / Parking Lot & Garage
    • Amazon Locker - Efficacy / Postal Service / Courier Service
    • Tesla Destination Charger / Electric Vehicle Charging Station

    Property Details for 6855 Virginia St

    Year built
    2000
    Construction
    WOOD
    Lot size
    2.43 lot acres
    Property size
    63,475 SF
    Zone code
    MS
    Property type
    Hotels
    APN
    040-162-68
    APU
    4016268

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $28,358,000
      Market price range: $12.3M - $28.4M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $20,985,000
      Current use
      COMMERCIAL (GENERAL)
      $33,835,000
      Change: +61% Conversion: Difficult
      RESTAURANT
      $25,970,000
      Change: +24% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $25,500,000
      Change: +22% Conversion: Difficult
      MEDICAL BUILDING
      $23,305,000
      Change: +11% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $21,360,000
      Change: +2% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $20,955,000
      Change: -0% Conversion: Difficult
      OFFICE BUILDING
      $19,175,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.785
    Latitude
    39.4643
    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
    $105,144
    $466,799
    $2,638,481
    $3,105,280
    -
    $1,333,710
    $7,538,518
    $8,872,228

    Comparable in this City

    • Value Estimation
      $825,000
      2,329 SF

      7400 Virginia St

      HOTEL • 2,329 SF
      7400 Virginia St, Reno, NV 89511-1112
      View Details
    • Value Estimation
      $19,640,000
      59,915 SF

      5450 Kietzke Ln

      HOTEL • 59,915 SF
      5450 Kietzke Ln, Reno, NV 89511-2061
      View Details
    • Value Estimation
      $22,835,000
      79,736 SF

      13959 Virginia St

      HOTEL • 79,736 SF
      13959 Virginia St, Reno, NV 89511-8917
      View Details
    • Value Estimation
      $745,000
      1,960 SF

      6950 Virginia St

      MOTEL • 1,960 SF
      6950 Virginia St, Reno, NV 89511-1107
      View Details
    • Value Estimation by Request
      4,200 SF

      Longley Ln

      Medical Office Space • 4,200 SF
      0 Longley Ln, Reno, NV 89511
      View Details
    • Value Estimation by Request
      0.73 Acres

      Dow Jones Ln

      VACANT COMMERCIAL LAND • 0.73 Acres
      Dow Jones Ln, Reno, NV 89511
      View Details

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      2.51 Acres

      Reno Land Ready for Development

      2.5-acre shovel-ready estate with utilities and water rights.
      2490 Faretto Ln, Reno, NV 89511
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      Victory Logistics District Land

      Master-planned industrial center in Northern Nevada for sale.
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    Similar Nearby for Lease

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      Mountain View Corporate

      Discover many ways to work your way in Mountain View Corporate
      5470 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
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      5,157 SF

      Sierra Rose Professional Office Space

      Professional office space in South Reno, ideal for medical use.
      601 Sierra Rose Dr, Reno, NV 89511
      View Details
    • Contact for pricing

      Medical Suite in South Reno

      Move-in ready medical suites off S. Virginia Street available for lease.
      15 Mccabe Dr, Reno, NV 89511
      View Details
    • Contact for pricing
      1,769 SF

      Retail Space Available For Lease

      Retail space available for lease in Reno, Nevada.
      55 Foothill Rd, Reno, NV 89511
      View Details
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    6855 Virginia St
    Reno, NV 89511-1120
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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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