Back to Search
Property profile & analytics
FOR SALE
Grocery and convenience stores
8995 Lemmon Dr Reno, NV 89506
Individually Owned
2-yr Hold
Free & Clear
Property ID
US62-0471739
For Sale
1 / 3
$1,100,000
8995 Lemmon Dr, Reno, NV 89506
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1980
Construction
WOOD
Total area
2,400 SF
Lot
0.33 ac (14,588 SF)
Zoning code
GC
APN
552-250-03
UPID
US62-0471739
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
-
Tacos T Restaurant
-
Western Union Bank Credit Union
-
7-Eleven Grocery & Convenience Store
-
ATM 7ELEVEN, INC. Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
$465k
Comparable Approach
Comparable
$337k
Blend (final)
Blend
$540k
Owner & transaction history
Surinder Preet · 2 yrs held
Surinder Preet
since 2024
Last sale
$540,000
1 recorded transaction
Zoning & alternative use
GC · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$840,000
+35.8%
Auto repair, garage
$810,000
+30.9%
Office building
$635,000
+3.1%
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
$540,000
ML approach
$540,000
CAP Approach
CAP Return
Estimation
6%
$505,000
6.5%
$465,000
7%
$435,000
Alternative Use
Use
Estimation
RETAIL STORES
$615,000
Current use
MEDICAL BUILDING
$840,000
Change: +36% · Conversion: Difficult
AUTO REPAIR, GARAGE
$810,000
Change: +31% · Conversion: Difficult
OFFICE BUILDING
$635,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $540k (Apr 24 2024)
Last sale anchor
$540k
Apr 24 2024
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
$225 / 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
$2,474
Tax year 2023
Assessed value
$82,420
Assessed 2023
Previous assessed
$82,420
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$27,571
Assessed improvement
$54,849
Land market value
$78,775
Improvement market value
$156,710
Total market value
$235,485
Applied tax rate
4,000.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Sale
Year built
1980
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
2,400 SF
Lot
0.33 ac (14,588 SF)
Zoning code
GC
APN
552-250-03
UPID
US62-0471739
Jurisdiction
WASHOE
Zoning & alternative use
GC · Reno, NV
Zoning GC · permitted uses
GC · 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
RETAIL STORES Current
Est. value
$615,000
MEDICAL BUILDING
Est. value
$840,000
AUTO REPAIR, GARAGE
Est. value
$810,000
OFFICE BUILDING
Est. value
$635,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1980
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Surinder Preet
Individual
Free & Clear · 2 yrs held
Mailing address
4790 W HIDDEN VLY DR, RENO, NV 89502-9404
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2024
$540,000
Surinder Preet
7 Eleven INC
Special Warranty Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
