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Property profile & analytics
OFF-MARKET
Estimated value
$1,660,000
Assisted living facilities
690 Edison Way Reno, NV 89502-4100
Entity Owned
4-yr Hold
Free & Clear
Property ID
US62-0423568
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1988
Construction
WOOD
Total area
33,382 SF
Lot
5.15 ac (224,290 SF)
Zoning code
PF
APN
012-341-23
UPID
US62-0423568
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
-
Dr. Ryan M. Ley, MD Physician
-
Willow Springs Center Medical Clinic
-
Aryel Ron M MD Physician
-
Dr. Jayleen Chen Physician
-
DANA ARLIEN Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.26M
Blend (final)
Blend
$1.66M
Owner & transaction history
City Of Reno · 4 yrs held
City Of Reno
since 2022
4 recorded transactions
Zoning & alternative use
PF · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The PF district is intended to provide for public and quasi-public facilities and services. Primary uses include public institutions, cultural centers, religions institutions, government centers, libraries, hospitals, schools, and utility installations. Depending on the scale and impacts of the proposed use, additional mitigation may be appropriate when adja…
Zone name
Public Facilities
General category
CIVIC_INSTITUTIONAL
Zone area
2,209.53 ac
Source
Realmo
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
by Request
ML approach
$1,060,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$1,785,000
Current use
Blend value · Realmo final
$1.66M
Range $1.49M – $1.83M · ±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
$50 / 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
$80,950
Tax year 2023
Assessed value
$2,425,702
Assessed 2023
Previous assessed
$2,038,330
+19.0% YoY
Effective rate
3.34%
On assessed value
Assessed land
$594,253
Assessed improvement
$1,831,449
Land market value
$1,697,865
Improvement market value
$5,232,710
Total market value
$6,930,575
Applied tax rate
1,000.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Buildings
3
Stories
1
Units
3
Total area
33,382 SF
Lot
5.15 ac (224,290 SF)
Zoning code
PF
APN
012-341-23
UPID
US62-0423568
Jurisdiction
WASHOE
Zoning & alternative use
PF · Reno, NVZoning PF · permitted uses
PF · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The PF district is intended to provide for public and quasi-public facilities and services. Primary uses include public institutions, cultural centers, religions institutions, government centers, libraries, hospitals, schools, and utility installations. Depending on the scale and impacts of the proposed use, additional mitigation may be appropriate when adjacent to residential districts.
Zone name
Public Facilities
General category
CIVIC_INSTITUTIONAL
Zone area
2,209.53 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$1.8M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
1988
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
5.15 ac
Current owner
From public records · entity-resolved
City Of Reno
Entity
Free & Clear · 4 yrs held
Mailing address
14400 METCALF AVE, OVERLAND PARK, KS 66223-2989
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2022
—
City Of Reno
Regional Trans Commission Of Washoe
Quit Claim Deed
related
—
Jan 16, 2013
—
Willow Springs LLC
—
Deed Of Trust
related
$900,000,000 · J P Morgan Chase Bank
Aug 20, 2003
—
Willow Springs LLC
—
Deed Of Trust
related
$325,000,000 · Bank One NA Trustee
Apr 1, 2003
—
Willow Springs LLC
Bhc Health Services Nv INC
Grant Deed
$126,297,212 · Bank One Kentucky NA Trustee
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.
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