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Property profile & analytics
FOR LEASE
Strip malls
777 S Center St Reno, NV 89501
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0757466
For Lease
1 / 2
$27 SF/Yr
777 S Center St, Reno, NV 89501
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,194 SF
Lot
0.48 ac (21,000 SF)
Zoning code
MUMC
APN
011-232-24
UPID
US62-0757466
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
-
My Religion Tattoo Reno - No Piercing Tattoo & Piercing Shop
-
Kaia FIT Sierra-Midtown Gym & Fitness Center
-
LOKAL Hair Salon
-
Arario Midtown Restaurant
-
Piñon Bottle Co Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.39M
Blend (final)
Blend
$9.83M
Owner & transaction history
Madrone Ventures INC · 4 yrs held
Madrone Ventures INC
since 2022
Last sale
$9.8M
7 recorded transactions
Zoning & alternative use
MUMC · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$11.3M
+32.7%
Restaurant
$8.9M
+4.0%
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
$9,540,000
ML approach
$10,165,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$8,515,000
Current use
COMMERCIAL (GENERAL)
$11,295,000
Change: +33% · Conversion: Easy
RESTAURANT
$8,855,000
Change: +4% · Conversion: Difficult
MEDICAL BUILDING
$7,395,000
Change: -13% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,130,000
Change: -16% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,995,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$9.83M
Range $8.84M – $10.81M · ±10% · vs last sale $9.80M (May 6 2022)
Last sale anchor
$9.80M
May 6 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
$464 / 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
$36,739
Tax year 2023
Assessed value
$1,099,018
Assessed 2023
Previous assessed
$926,312
+18.6% YoY
Effective rate
3.34%
On assessed value
Assessed land
$132,300
Assessed improvement
$966,718
Land market value
$378,000
Improvement market value
$2,762,050
Total market value
$3,140,050
Applied tax rate
1,002.0000
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
For Lease
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
21,194 SF
Lot
0.48 ac (21,000 SF)
Zoning code
MUMC
APN
011-232-24
UPID
US62-0757466
Jurisdiction
WASHOE
Zoning & alternative use
MUMC · Reno, NV
Zoning MUMC · permitted uses
MUMC · 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
$8.5M
COMMERCIAL (GENERAL)
Est. value
$11.3M
RESTAURANT
Est. value
$8.9M
MEDICAL BUILDING
Est. value
$7.4M
AUTO REPAIR, GARAGE
Est. value
$7.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.0M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
Madrone Ventures INC
Entity
Mailing address
93 N 3RD ST #110, SAN JOSE, CA 95112-5520
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
May 6, 2022
$9,800,000
Madrone Ventures INC
Tmmr 1 De Spe LLC
Bargain And Sale Deed
—
Nov 6, 2019
—
Tmmr 1-de Spe LLC
Steamboat Cmrc Ctr De Spe Ll
Grant Deed
$2,000,000 · Miscellaneous Ins Co
Oct 19, 2017
$5,750,000
Tmmr 1-de Spe LLC
Johnson Family Trust
Grant Deed
related
—
Oct 18, 2017
$5,750,000
Tmmr 1-de Spe LLC
Johnson Family Trust
Trustees Deed
$12,525,000 · Pfp Holding Co V LLC
Jun 12, 2014
—
Johnson Family Trust
Johnson Family Trust
Quit Claim Deed
related
$1,200,000 · Heritage Bk/nv
Apr 3, 2014
$1,400,000
Johnson Family Trust
Maytan S & I Family Trust
Grant Deed
$900,000 · Maytan S & I Trust (pt)
—
—
Johnson Family Trust
—
Loan Modification
related
$2,442,000 · Heritage Bk/nv
—
—
Johnson Family Trust
—
Loan Modification
related
$1,800,000 · Heritage Bk/nv
—
—
Maytan,steve & Iris Fam Trust
—
Deed Of Trust
related
$200,000 · Heritage Bk/nv
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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