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    3045 N Lamb Blvd North Las Vegas, NV 89115

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    For Lease
    $22,000

    Automotive facility with office space and multiple service bays.

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    Listing Contact
    Eric J. Larkin, Mba, Ccim, Sior
    Source: Naiglobal

    Listing Agent: Eric J. Larkin, Mba, Ccim, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Overview

    North Las Vegas Automotive Facility

    Located in the North Las Vegas industrial submarket near Cheyenne Avenue and Shadow Creek Golf Course, this commercial property offers excellent access to major thoroughfares. Constructed in 2008 with masonry, the building features approximately 1,790 square feet of HVAC office space. The facility includes 13 grade-level doors, with four oversized doors measuring 12 feet by 22 feet and eight typical doors measuring 10 feet by 21 feet. It is equipped with six drive-thru service bays, 3-phase power at 208/120V with 750 amps, and a 19-foot clear height. The property is certified for hot works and includes lifts, compressors, and airlines. Security cameras are installed throughout the building and parking lot. The building is fully sprinklered and zoned IP, with APN 140-18-502-006.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Axle Transmission, 4 Brothers Auto Body & Repair LLC, Trailer Depot -Trailer Parts and Service, Right Away Towing LLC, Jose Auto Repair Shop

    Location Insight

    • Map
    • Local Demand
    City
    North Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.083
    Latitude
    36.224

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    FAQs

    What type of property is this?
    Auto shop - Automotive facility with office space and multiple service bays.
    Where is this auto shop located?
    The property is located at 3045 N Lamb Blvd North Las Vegas, NV.
    What is the lease rate?
    The lease rate is $22,000.
    What are key features of this property?
    This property features: - Six drive-thru service bays for efficient operations.; - 13 grade level doors, including four oversize 12’ x 22’ doors.; - Equipped with lifts, compressors, and airlines.
    (702) 534-1713
    Request Owner's contact information
    3045 N Lamb Blvd North Las Vegas, NV 89115
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    North Las Vegas, NV 89115
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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
    3045 N Lamb Blvd North Las Vegas, NV 89115
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    Listing Contact
    Eric J. Larkin, Mba, Ccim, Sior
    Real Estate License ID: #BS.0073906
    (702) 534-1713
    Learn more
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