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Property profile & analytics
OFF-MARKET
Estimated value
$4,925,000
Retail space
881 Glendale Ave Sparks, NV 89431-5739
Entity Owned
17-yr Hold
Free & Clear
Property ID
US62-0221908
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,904 SF
Lot
4.86 ac (211,702 SF)
Zoning code
I
APN
034-096-03
UPID
US62-0221908
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
-
Diversified Painting Painting Service General Contractor
-
Clearwater Spa Tenders Renovation Specialist General Contractor
-
Up the Creek Rustic Decor Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.42M
Blend (final)
Blend
$4.93M
Owner & transaction history
Reo LLC · 17 yrs held
Reo LLC
since 2009
4 recorded transactions
Zoning & alternative use
I · Sparks, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
I district provides intensive work processes such as manufacturing or basic resource handling. These areas are generally located south of I-80 between the western and eastern City boundaries. Other potential areas suited are along I-80 and/or rail corridor.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
2,393.27 ac
Source
Realmo
Top alternative use upside
Medical building
$7.0M
+30.5%
Apartment house (5+ units)
$6.6M
+23.2%
Industrial (general)
$5.7M
+7.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$5,335,000
Current use
MEDICAL BUILDING
$6,965,000
Change: +31% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,570,000
Change: +23% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,745,000
Change: +8% · Conversion: Difficult
OFFICE BUILDING
$5,140,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,990,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$4.93M
Range $4.43M – $5.42M · ±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
$247 / 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
$34,250
Tax year 2023
Assessed value
$1,049,819
Assessed 2023
Previous assessed
$881,539
+19.1% YoY
Effective rate
3.26%
On assessed value
Assessed land
$740,957
Assessed improvement
$308,862
Land market value
$2,117,020
Improvement market value
$882,463
Total market value
$2,999,483
Applied tax rate
2,000.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
YES
Buildings
3
Stories
1
Units
3
Total area
19,904 SF
Lot
4.86 ac (211,702 SF)
Zoning code
I
APN
034-096-03
UPID
US62-0221908
Jurisdiction
WASHOE
Zoning & alternative use
I · Sparks, NVZoning I · permitted uses
I · Sparks, NV
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
I district provides intensive work processes such as manufacturing or basic resource handling. These areas are generally located south of I-80 between the western and eastern City boundaries. Other potential areas suited are along I-80 and/or rail corridor.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
2,393.27 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.3M
MEDICAL BUILDING
Est. value
$7.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.6M
INDUSTRIAL (GENERAL)
Est. value
$5.7M
OFFICE BUILDING
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$5.0M
RETAIL STORES Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
COMMERCIAL (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
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
4.86 ac
Current owner
From public records · entity-resolved
Reo LLC
Entity
Free & Clear · 17 yrs held
Mailing address
PO BOX 7417, RENO, NV 89510-7417
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2009
$5,200,000
Reo LLC
Asap Storage INC
Grant Deed
—
Jan 8, 1996
$1,190,000
Asap Storage INC
Voje INC
Grant Deed
$650,000 · Tuttle Properties INC
—
—
Reo LLC
—
Deed Of Trust
related
$10,500 · Acorn Corp
—
—
Reo LLC
—
Deed Of Trust
related
$4,300,000 · Acorn 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.
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