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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Motels
6950 Virginia St Reno, NV 89511-1107
Trust Owned
15-yr Hold
Free & Clear
Property ID
US62-0425009
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1960
Construction
WOOD
Total area
1,960 SF
Lot
1.11 ac (48,264 SF)
Zoning code
MS
APN
025-320-14
UPID
US62-0425009
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
-
Kay Martin Lodge Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$876k
Blend (final)
Blend
$745k
Owner & transaction history
Mullins W & K Family Trust · 15 yrs held
Mullins W & K Family Trust
since 2010
1 recorded transaction
Zoning & alternative use
MS · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The MS district is intended to promote the gradual transition of the City suburban corridors to a mix of higher-density residential, retail, commercial, and other employment and service-oriented uses. Mixed-Use Suburban is generally appropriate within or adjacent to areas identified as Corridors, Employment Areas, and Mixed-Use within the Master Plan Structu…
Zone name
Mixed Use Suburban
General category
MIXED_USE
Zone area
2,997.07 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.0M
+61.2%
Neighborhood: shopping center
$785,000
+21.5%
Medical building
$720,000
+11.1%
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
$450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$650,000
Current use
COMMERCIAL (GENERAL)
$1,045,000
Change: +61% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$785,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$720,000
Change: +11% · Conversion: Difficult
AUTO REPAIR, GARAGE
$660,000
Change: +2% · Conversion: Difficult
OFFICE BUILDING
$590,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$745k
Range $671k – $820k · ±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
$380 / 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
$19,603
Tax year 2023
Assessed value
$558,097
Assessed 2023
Previous assessed
$494,292
+12.9% YoY
Effective rate
3.51%
On assessed value
Assessed land
$270,200
Assessed improvement
$287,897
Land market value
$772,000
Improvement market value
$822,562
Total market value
$1,594,562
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1960
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
CENTRAL
Buildings
5
Stories
1
Units
45
Total area
1,960 SF
Lot
1.11 ac (48,264 SF)
Zoning code
MS
APN
025-320-14
UPID
US62-0425009
Jurisdiction
WASHOE
Zoning & alternative use
MS · Reno, NVZoning MS · permitted uses
MS · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The MS district is intended to promote the gradual transition of the City suburban corridors to a mix of higher-density residential, retail, commercial, and other employment and service-oriented uses. Mixed-Use Suburban is generally appropriate within or adjacent to areas identified as Corridors, Employment Areas, and Mixed-Use within the Master Plan Structure.
Zone name
Mixed Use Suburban
General category
MIXED_USE
Zone area
2,997.07 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$650,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$785,000
MEDICAL BUILDING
Est. value
$720,000
AUTO REPAIR, GARAGE
Est. value
$660,000
OFFICE BUILDING
Est. value
$590,000
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1960
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Buildings
5
Units
45
Lot
1.11 ac
Current owner
From public records · entity-resolved
Mullins W & K Family Trust
Trust
Free & Clear · 15 yrs held
Mailing address
6950 S VIRGINIA ST, RENO, NV 89511-1107
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2010
—
Mullins W & K Family Trust
Mullins,wilburn D & Kay M
Quit Claim Deed
related
—
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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