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Property profile & analytics
OFF-MARKET
Estimated value
$10,300,000
Strip malls
7111 Virginia St, Reno, NV 89511-1115
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0322529
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
32,500 SF
Lot
4.39 ac (191,403 SF)
Zoning code
MS
APN
043-281-04
UPID
US62-0322529
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
-
Deadline Escape Rooms Arcade & Gaming Center
-
Personal Trainer Reno Gym & Fitness Center
-
Chihuahua's Cantina & Grill Restaurant
-
Schaupp James DO Pediatrician Physician
-
Timothy Coughlin, M.D. Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.98M
CAP Approach
CAP
$7.26M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.30M
Owner & transaction history
Montrose Properties Nevada LLC · 4 yrs held
Montrose Properties Nevada LLC
since 2022
Last sale
$10.5M
7 recorded transactions
Zoning & alternative use
MS · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.3M
+1.8%
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
$10,220,000
ML approach
$9,980,000
CAP Approach
CAP Return
Estimation
6%
$7,865,000
6.5%
$7,260,000
7%
$6,740,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$13,055,000
Current use
RESTAURANT
$13,295,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$11,930,000
Change: -9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,935,000
Change: -16% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,730,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$10.30M
Range $9.27M – $11.33M · ±10% · vs last sale $10.50M (Apr 7 2022)
Last sale anchor
$10.50M
Apr 7 2022
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
$317 / 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
$71,811
Tax year 2023
Assessed value
$2,482,702
Assessed 2023
Previous assessed
$2,197,389
+13.0% YoY
Effective rate
2.89%
On assessed value
Assessed land
$1,071,857
Assessed improvement
$1,410,845
Land market value
$3,062,448
Improvement market value
$4,030,986
Total market value
$7,093,434
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
4
Stories
1
Units
25
Total area
32,500 SF
Lot
4.39 ac (191,403 SF)
Zoning code
MS
APN
043-281-04
UPID
US62-0322529
Jurisdiction
WASHOE
Zoning & alternative use
MS · Reno, NV
Zoning MS · permitted uses
MS · Reno, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$13.1M
RESTAURANT
Est. value
$13.3M
MEDICAL BUILDING
Est. value
$11.9M
AUTO REPAIR, GARAGE
Est. value
$10.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.7M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Units
25
Lot
4.39 ac
Current owner
From public records · entity-resolved
Montrose Properties Nevada LLC
Entity
Mailing address
1728 US HWY 50, GLENBROOK, NV 89413-9714
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2022
$10,500,000
Montrose Properties Nevada LLC
Sierra Meadows Plaza LLC
Bargain And Sale Deed
$6,300,000 · Washington Federal Bank
Sep 10, 2019
$5,200,000
Sierra Meadows Plaza LLC
U S Bk NA Series 2007-3
Grant Deed
—
Feb 5, 2016
$3,706,000
Us Bank NA Series 2007-3 Tr
Assured Lender Services|sierra Meadows Investors L
Trustees Deed
related
—
Mar 30, 2007
$11,200,000
Auerbach Sierra Meadows LLC
Sierra Meadows Investors LLC
Grant Deed
—
Nov 23, 2004
$10,086,000
Sierra Meadows Investors LLC
Fazio,peter S & Shari A
Grant Deed
$4,700,000 · Nevada State Bank
Feb 1, 2000
—
Fazio,peter S & Shari A
Green Acres Professional Ctr
Trustees Deed
$3,800,000 · Nevada State Bank
Feb 1, 2000
$2,782,500
Kudrna,james A
Green Acres Professional Cente
Trustees Deed
—
—
—
Sierra Meadows Investors LLC
—
Deed Of Trust
related
$7,300,000 · Bank Of America
—
—
Sierra Meadows Investors LLC
—
Deed Of Trust
related
$500,000 · Nevada State Bank
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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