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Property profile & analytics
OFF-MARKET
Estimated value
$9,065,000
Medical Office Space
901 2nd St Reno, NV 89502-1175
Entity Owned
17-yr Hold
Free & Clear
Property ID
US62-0443464
Property summary
AI-generated overview
Prime Reno location! This 1,310 sq ft auto shop, situated on a 0.213-acre lot at 901 W 2nd St, offers a unique investment or owner-user opportunity. Located in Reno's Neon Line District, this property boasts a 93 walk score and high visibility due to its corner location and significant traffic. Built in 1964, the single-story building features two roll-up doors and a large canopy, ideal for automotive use or redevelopment. The Mixed-Use Downtown Innovation District zoning (MD-ID) allows for diverse uses. Currently net-leased to MasterTech Automotive on a month-to-month agreement at $2,850 per month (tenant pays property taxes and utilities), this presents a strong cash flow potential. The property's size and zoning allow for significant expansion or redevelopment, capitalizing on the surrounding new high-density residential development. This is a rare chance to acquire a well-located property in a rapidly growing area of Reno, Nevada. The asking price is $975,000, with a price per square foot of $744.27. The APN is 011-011-05.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1987
Construction
FRAME
Total area
40,136 SF
Lot
1.27 ac (55,365 SF)
Zoning code
MU
APN
012-371-19
UPID
US62-0443464
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
-
Renown Medical Group, Women's Health - Center F Medical Clinic
-
Sarah Margaret McKenzie, DO Medical Clinic
-
Amy Forsberg Condon, MD Medical Clinic
-
Myron W. Bethel, MD Physician
-
Sierra Nevada Nephrology: O'Neill Jr William MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.59M
Comparable Approach
Comparable
$7.43M
Blend (final)
Blend
$9.07M
Owner & transaction history
Renown Businesses INC · 17 yrs held
Renown Businesses INC
since 2008
5 recorded transactions
Zoning & alternative use
MU · Reno, NV
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$10,390,000
6.5%
$9,590,000
7%
$8,905,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$14,010,000
Current use
APARTMENT HOUSE (5+ UNITS)
$13,250,000
Change: -5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$12,840,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$9.07M
Range $8.16M – $9.97M · ±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
$226 / 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
$88,223
Tax year 2023
Assessed value
$2,589,951
Assessed 2023
Previous assessed
$2,230,017
+16.1% YoY
Effective rate
3.41%
On assessed value
Assessed land
$387,625
Assessed improvement
$2,202,326
Land market value
$1,107,500
Improvement market value
$6,292,361
Total market value
$7,399,861
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1987
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
2
Stories
3
Units
1
Total area
40,136 SF
Lot
1.27 ac (55,365 SF)
Zoning code
MU
APN
012-371-19
UPID
US62-0443464
Jurisdiction
WASHOE
Zoning & alternative use
MU · Reno, NV
Zoning MU · permitted uses
MU · 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
MEDICAL BUILDING Current
Est. value
$14.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.3M
AUTO REPAIR, GARAGE
Est. value
$12.8M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1987
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
3
Buildings
2
Units
1
Lot
1.27 ac
Current owner
From public records · entity-resolved
Renown Businesses INC
Entity
Free & Clear · 17 yrs held
Mailing address
1155 ML ST, RENO, NV 89502-1576
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2008
$682,926
Renown Businesses INC
50 Kirman Avenue LLC
Grant Deed
—
May 4, 2004
—
50 Kirman Avenue LLC
Kim Realty LLC
Quit Claim Deed
related
—
Dec 23, 1999
$5,300,000
Kim Real Estate Enterprises
Physicians Plaza Associates LP
Grant Deed
$2,700,000 · Pioneer Citizens Bank Nevada
—
—
50 Kirman Avenue LLC
—
Deed Of Trust
related
$1,000,000 · Nevada State Bank
—
—
50 Kirman Avenue LLC
—
Deed Of Trust
related
$600,000 · Nevada State Bank
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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