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Property profile & analytics
OFF-MARKET
Estimated value
$2,745,000
Specialty properties
7450 Longley Ln Reno, NV 89511-1228
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US62-0382241
Property profile
Verified
Property type
Specialty properties
Use group
VETERINARY, ANIMAL HOSPITAL
Year built
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,368 SF
Lot
0.88 ac (38,388 SF)
Zoning code
MS
APN
164-121-07
UPID
US62-0382241
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
-
VCA A Plus Animal Hospital Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.76M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$2.75M
Owner & transaction history
Mark R Nichols · 1 yrs held
Mark R Nichols
since 2025
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
MS · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.1M
+165.7%
Medical building
$2.3M
+52.3%
Commercial (general)
$2.0M
+31.6%
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
$2,775,000
ML approach
$2,760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,065,000
Change: +166% · Conversion: Difficult
MEDICAL BUILDING
$2,330,000
Change: +52% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,015,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,690,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$2.75M
Range $2.47M – $3.02M · ±10% · vs last sale $2.73M (Dec 22 2020)
Last sale anchor
$2.73M
Dec 22 2020
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
$222 / 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
$28,980
Tax year 2023
Assessed value
$851,059
Assessed 2023
Previous assessed
$732,709
+16.2% YoY
Effective rate
3.41%
On assessed value
Assessed land
$157,871
Assessed improvement
$693,188
Land market value
$451,059
Improvement market value
$1,980,538
Total market value
$2,431,597
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
Specialty properties
Use group
VETERINARY, ANIMAL HOSPITAL
Status
Off-Market
Year built
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
12,368 SF
Lot
0.88 ac (38,388 SF)
Zoning code
MS
APN
164-121-07
UPID
US62-0382241
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.88 ac
Current owner
From public records · entity-resolved
Mark R Nichols
Individual
Mailing address
1017 N CHEYENNE ST, ORANGE, CA 92869-1956
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 25, 2025
—
Mark R Nichols
Mark R Nichols
Deed
related
—
Dec 22, 2020
—
Lynn A Nichols
Nicholas R L & G C Trust
Quit Claim Deed
related
—
Jul 15, 2019
$2,725,000
Nichols,robert L Tr
L & L Property LLC
Grant Deed
—
Feb 19, 2019
—
L&l Property LLC
L&l Property LLC
Intrafamily Transfer
related
$1,887,500 · Western Alliance Bank
Apr 22, 2010
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Jan 14, 2010
$614,500
L & L Property LLC
Maddox,charles B
Grant Deed
$429,800 · First Independent Bank Nevada
—
—
L & L Property LLC
—
Deed Of Trust
related
$1,029,000 · Nevada State Development Corp
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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