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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8895 Double Diamond Pkwy Reno, NV 89521-6089

    • Warehouses
    • 84,000 SF
    • 5.00 lot acres
    OFF-MARKET
    Last Sale
    May 27, 2022
    $20,076,000
    Value Estimations
    $19,710,000
    Show details
    Cap Rate Potential
    3%
    Warehouses
    Location Intelligence
    Property ID
    US62-0954562
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • High Mountain Door And Trim / Door Supplier
    • Arizona Tile / Flooring Store / Tile Contractor

    Property Details for 8895 Double Diamond Pkwy

    Year built
    2021
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.00 lot acres
    Property size
    84,000 SF
    Zone code
    PD
    Property type
    Warehouses
    APN
    163-102-18
    APU
    16310218

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $19,545,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,148,000
      Market price range: $8.02M - $19.2M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $13,325,000
      Current use
      MEDICAL BUILDING
      $29,320,000
      Change: +120% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $28,270,000
      Change: +112% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $27,730,000
      Change: +108% Conversion: Difficult
      OFFICE BUILDING
      $22,960,000
      Change: +72% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Reno
    County
    Washoe
    State
    Nevada
    Longitude
    -119.753
    Latitude
    39.4505
    CBSA code
    39900
    CBSA name
    RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $113,307
    $838,530
    $2,543,811
    $3,382,341
    -
    $2,395,800
    $7,268,032
    $9,663,832

    Comparable in this City

    • Value Estimation
      $15,215,000
      183,268 SF

      1201 Steamboat Pkwy

      WAREHOUSE, STORAGE • 183,268 SF
      1201 Steamboat Pkwy, Reno, NV 89521-6240
      View Details
    • Value Estimation by Request
      583,875 SF

      9295 Prototype Dr

      WAREHOUSE, STORAGE • 583,875 SF
      9295 Prototype Dr, Reno, NV 89521-8986
      View Details
    • Value Estimation
      $2,135,000
      9,812 SF

      9300 Prototype Dr

      WAREHOUSE, STORAGE • 9,812 SF
      9300 Prototype Dr, Reno, NV 89521-5907
      View Details
    • Value Estimation
      $12,310,000
      180,784 SF

      811 Sandhill Rd

      WAREHOUSE, STORAGE • 180,784 SF
      811 Sandhill Rd, Reno, NV 89521-4952
      View Details
    • Value Estimation
      $14,870,000
      274,085 SF

      1175 Trademark Dr

      WAREHOUSE, STORAGE • 274,085 SF
      1175 Trademark Dr, Reno, NV 89521-6003
      View Details
    • Value Estimation
      $17,355,000
      321,704 SF

      1160 Trademark Dr

      WAREHOUSE, STORAGE • 321,704 SF
      1160 Trademark Dr, Reno, NV 89521-5942
      View Details

    Similar Nearby for Sale

    • $900,000
      1 SF

      South Meadows Build-Ready Pad

      Build-ready pad in South Meadows with flexible zoning.
      Prototype Dr, Reno, NV 89521
      View Details
    • $229,000

      Reno Commercial Land - $229K

      Prime Reno land, ready for development.
      0 Trademark Dr, Reno, NV 89521
      View Details
    • $19,300,000
      77,132 SF

      Executive Office Building, Reno, NV

      77,132 SF Office Building, $19.3M
      885 Trademark Dr, Reno, NV 89521
      View Details
    • $87,000
      10.38 Acres

      10-Acre Vacant Land Near Lake

      10-acre vacant land with panoramic views, adjacent to a serene lake.
      3500 Dry Lake Rd, Reno, NV 89521
      View Details
    • $3,750,000
      14,169 SF

      South Reno Professional Office Building

      Two-story office building with freeway visibility and ample parking.
      515 Double Eagle Ct, Reno, NV 89521
      View Details
    • $150,000
      40.00 Acres

      Reno Land with Mountain Views

      40-acre parcel with well, ideal for building your dream home.
      Western Skies Dr, Reno, NV 89521
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      10,000 SF

      Reno Warehouse Space Available

      10,000 SF warehouse space for lease in Reno.
      9570 Prototype Ct, Reno, NV 89521
      View Details
    • Contact for pricing
      72,380 SF

      Reno Warehouse Space Available

      72,380 square foot warehouse space for lease in Reno.
      9735 Double R Blvd, Reno, NV 89521
      View Details
    • Contact for pricing
      78,605 SF

      Reno Warehouse Space Available

      78,605 SF warehouse space for lease in Reno.
      1175 Trademark Dr, Reno, NV 89521
      View Details
    • Contact for pricing
      10,270 SF

      Reno Warehouse Space Available

      Divisible warehouse space with easy I-580 access in Reno.
      12920 Old Virginia Rd, Reno, NV 89521
      View Details
    • Contact for pricing
      115,680 SF

      Industrial Building in South Meadows

      Industrial building for lease in the South Meadows submarket.
      9355 Gateway Dr, Reno, NV 89521
      View Details
    • Contact for pricing
      25,500 SF

      Reno Industrial Space Available

      25,500 SF industrial space for rent in Reno.
      1170 Trademark Dr, Reno, NV 89521
      View Details
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    Reno, NV 89521-6089
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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