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    100 E 1st S St, Mesquite, NV 89027

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    For Sale
    $2,500,000

    MULTI_FAMILY - Mesquite, NV

    Property size:
    10,800 SF
    Lot size:
    0.73 Acres
    Price / SF:
    $231/SF
    Added:
    Feb 15, 2026
    Days on Market:
    91
    Last Refresh:
    May 17 at 5:06 pm

    Property Features for 100 E 1st S St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Bedrooms
    24
    Bathrooms
    12
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 12, Bedroom 15, Bedroom 19, Bedroom 11, Bathroom 11, Bedroom 21, Bathroom 10, Bathroom 7, Bedroom 16, Bedroom 10, Bathroom 4, Bedroom 5, Bathroom 8, Bedroom 22, Bedroom 7, Bedroom 3, Bedroom 13, Bedroom 1, Bedroom 6, Bathroom 5, Bathroom 6, Bedroom 17, Bedroom 8, Bathroom 1, Bathroom 9, Bedroom 9, Bedroom 20, Bedroom 18, Bathroom 3, Bedroom 14, Bathroom 2, Bedroom 23, Bedroom 24, Bathroom 12
    Interior features
    Ceiling Fans, Flooring- Carpet, Flooring- Laminate, Wheelchair Accessible, Vaulted Ceilings
    Accessibility
    Accessible Approach with Ramp
    Appliances
    Dishwasher, Freezer, Garbage Disposal, Microwave, Refrigerator, W/D Hookups, Washer & Dryer, Water Heater- Electric, Oven/Range, Oven/Range- Electric
    Standard status
    Active
    APN
    00116702001
    Size
    10,800 SF
    Lot size
    0.73 Acres

    Taxes and HOA fees

    Tax Annual Amount
    14126

    Utilities

    Utilities
    Cable Available
    Heating system
    Heat Pump (Heating), Central, Forced Air, Electric (Heating)
    Cooling system
    Central Air, Electric, Heat Pump

    Building Details

    Year built
    2024
    Floors in Building
    2
    Number of units
    12
    Roof type
    Tile
    Architectural style
    Other

    We can help!

    Listing Contact
    E. Shaun Caldwell

    Listing agent E. Shaun Caldwell License #B.0143955.LLC

    Listing office Prime Properties Mesquite 550 W Pioneer Blvd., #206, Mesquite, NV

    Listing date Feb 15, 2026

    MLS# 1127401 Listing URL

    Copyright © 2026 Mesquite Real Estate Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • New 12‑unit apartment building with a 4.9% NET NET cap rate at list price.
    • 100% occupancy with a low 1.7% vacancy rate in 2025, providing immediate income.
    • Prime location near the city center and walking distance to amenities.
    • All units are 2 bedrooms, 1 bathroom, 900 sq ft, offering desirable living spaces with mountain views.
    • Rents currently at $1150 per month with potential for reasonable increases.
    • Appraised in 2025 for $2.7 million, indicating a strong property value.

    Overview

    This multifamily property features 12 new units, each with 2 bedrooms and 1 bathroom, encompassing 900 square feet. Situated near the city center and behind the Mesquite City offices, the location offers walking distance to amenities. The units provide mountain views to the south and ample parking. The property, built on a 0.73-acre lot, was appraised in 2025 for $2.7 million. The property is fully occupied, with a 1.7% vacancy factor in 2025. Current rents are $1150 per month, with potential for reasonable increases. The location is quieter than many, being off the main streets. There is potential to add security gates, carports, a pool area, or other recreational amenities. At the list price, the net cap rate is 4.9% after all expenses. The property is located in Mesquite, NV.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $1.41M
    NOI $127,306 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.82M
    NOI $127,306 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.55M
    NOI $127,306 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $243.6k $22.56
    − Vacancy −$12.2k −$1.13
    EGI $231.5k $21.43
    − OpEx −$104.2k −$9.64
    NOI $127.3k $11.79
    10,800 SF · lease $22.56/SF/yr · vacancy 5.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $1.82M
    $1.59M – $2.12M (±1% cap)
    NOI $127,306 @ 7.0% cap · market cap 5.09%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $2.80M
    $2.45M – $3.27M (±1% cap)
    NOI $196,187 @ 7.0% cap · market cap 7.85%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Mesquite
    County
    Clark
    State
    Nevada
    Longitude
    -114.0661784
    Latitude
    36.80232

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    FAQs

    What type of property is this?
    Apartment building - New 12-unit multifamily property near Mesquite city center.
    Where is this apartment building located?
    The property is located at 100 E 1st S St Mesquite, NV.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: New 12‑unit apartment building with a 4.9% NET NET cap rate at list price.; 100% occupancy with a low 1.7% vacancy rate in 2025, providing immediate income.; Prime location near the city center and walking distance to amenities.
    (702) 701-3326
    We can help!
    Listing Contact
    E. Shaun Caldwell
    Real Estate License ID: B.0143955.LLC
    Learn More
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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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