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Property profile & analytics
OFF-MARKET
Estimated value
$70,405,000
Industrial properties
700 Milan Dr Sparks, NV 89437-5611
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US62-0441340
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2008
Construction
CONCRETE
Total area
632,080 SF
Lot
34.06 ac (1,483,654 SF)
Zoning code
I-2
APN
005-111-26
UPID
US62-0441340
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
-
Thrive Market Fulfillment Center Warehouse & Storage
-
Tesla warehouse Warehouse & Storage
-
Novo Logistics Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$52.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$70.41M
Owner & transaction history
Westcore Cg II Milan LLC · 2 yrs held
Westcore Cg II Milan LLC
since 2023
Last sale
$82.5M
2 recorded transactions
Zoning & alternative use
I-2 · 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
$64,140,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$56,850,000
6.5%
$52,480,000
7%
$48,730,000
Blend value · Realmo final
$70.41M
Range $63.36M – $77.45M · ±10% · vs last sale $82.50M (Nov 9 2023)
Last sale anchor
$82.50M
Nov 9 2023
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
$111 / 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
$345,598
Tax year 2023
Assessed value
$10,915,286
Assessed 2023
Previous assessed
$10,915,286
+0.0% YoY
Effective rate
3.17%
On assessed value
Assessed land
$1,168,378
Assessed improvement
$9,746,908
Land market value
$3,338,222
Improvement market value
$27,848,308
Total market value
$31,186,530
Applied tax rate
122.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2008
Construction
CONCRETE
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
632,080 SF
Lot
34.06 ac (1,483,654 SF)
Zoning code
I-2
APN
005-111-26
UPID
US62-0441340
Jurisdiction
STOREY
Zoning & alternative use
I-2 · Sparks, NV
Zoning I-2 · permitted uses
I-2 · 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.
Building & site characteristics
From public records
Year built
2008
Construction
CONCRETE
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
34.06 ac
Current owner
From public records · entity-resolved
Westcore Cg II Milan LLC
Entity
Mailing address
4350 LA JOLLA VLG DR STE #900, SAN DIEGO, CA 92122-1246
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2023
$82,500,000
Westcore Cg II Milan LLC
Eagle Cpt LLC
Bargain And Sale Deed
$49,000,000 · Security Of Denver Insurance Compa
Jul 13, 2022
—
Eagle Cpt LLC
Eagle Cpt LLC
Correction 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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