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    Property profile & analytics

    5625 Rainbow Blvd Las Vegas, NV 89118-1854

    • Strip malls
    • 14,100 SF
    • 1.48 lot acres
    OFF-MARKET
    Value Estimations
    $485,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0129302
    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

    • Empire Massage Chair / Health And Beauty Shop
    • Zen Nails Spa / Nail Salon
    • Hats Off Barber Shop / Barber Shop
    • New Life Foot Spa / Reflexologist / Thai Massage Therapist
    • Grinders , Italian Guys Pizza llc / Chicken Wings Restaurant / Halal Restaurant

    Property Details for 5625 Rainbow Blvd

    Year built
    1998
    Construction
    FRAME
    Lot size
    1.48 lot acres
    Property size
    14,100 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    163-27-801-017
    APU
    16327801017

    Description

    Rainbow Village is a ±20,300 square foot, single-story Class B retail strip center situated on South Rainbow Boulevard, just north of West Russell Road in Las Vegas's thriving Southwest submarket. Built in 1998, this property boasts excellent visibility and high traffic counts due to its location near the intersection of S Rainbow Blvd and W Russell Rd, one block north of the 215 and Rainbow access point. The center offers ample parking with a ratio of 4.21 spaces per 1,000 square feet. Currently, one 900 square foot second-generation space is available for lease, commencing November 1st, at competitive rates. The landlord is receptive to various tenant uses. The property is zoned C2, County, and sits on a 3.61-acre lot. Its convenient location offers proximity to significant residential areas like Rhodes Ranch and Spanish Trail, as well as Spring Valley and Southern Hills Hospitals. Access to the 215 freeway is easily achieved via S Rainbow Boulevard (approximately 1.1 miles) or W Russell Road (approximately 2.5 miles). Pylon signage opportunities are also available. A virtual tour of Suite B is accessible online.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $545,000
      Market price range: $428k - $772k

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.244
    Latitude
    36.0863
    CBSA code
    29820
    CBSA name
    LAS VEGAS-PARADISE, 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
    $27,297
    $428,719
    $634,367
    $1,063,086
    -
    $1,224,911
    $1,812,477
    $3,037,388

    Comparable in this City

    • Value Estimation
      $495,000
      25,080 SF

      6230 Decatur Blvd

      SHOPPING CENTER, STRIP CENTER • 25,080 SF
      6230 Decatur Blvd, Las Vegas, NV 89118-4367
      View Details
    • Value Estimation
      $7,245,000
      23,596 SF

      6825 Russell Rd

      SHOPPING CENTER, STRIP CENTER • 23,596 SF
      6825 Russell Rd, Las Vegas, NV 89118-1888
      View Details
    • Value Estimation
      $525,000
      15,271 SF

      6910 Rainbow Blvd

      SHOPPING CENTER, STRIP CENTER • 15,271 SF
      6910 Rainbow Blvd, Las Vegas, NV 89118-3273
      View Details
    • Value Estimation
      $465,000
      12,728 SF

      6181 Rainbow Blvd

      SHOPPING CENTER, STRIP CENTER • 12,728 SF
      6181 Rainbow Blvd, Las Vegas, NV 89118-3228
      View Details
    • Value Estimation
      $275,000
      1.18 Acres

      Las Vegas, NV 89118

      SHOPPING CENTER, STRIP CENTER • 1.18 Acres
      Las Vegas, NV 89118
      View Details
    • Value Estimation
      $265,000
      4,692 SF

      5347 Decatur Blvd

      SHOPPING CENTER, STRIP CENTER • 4,692 SF
      5347 Decatur Blvd, Las Vegas, NV 89118-2210
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Occupied Strip Center, Long-Term Leases

      100% occupied strip center with long-term leases and rental increases.
      5840 South Rainbow Blvd, Las Vegas, NV 89118
      View Details
    • $7,200,000
      15,000 SF

      Industrial Building with Retail Buildout

      15,000 SF industrial building with retail buildout on 2.1 acres.
      3176 W Martin Ave, Las Vegas, NV 89118
      View Details
    • $4,600,000
      18,788 SF

      Las Vegas Warehouse/Showroom with Billboard

      Warehouse/showroom in Stadium District with billboard income and accessibility improvements.
      3910 Graphic Center Dr, Las Vegas, NV 89118
      View Details
    • $2,307,000
      6,210 SF

      Established Domino's Location For Sale

      Long-term Domino's Pizza location near Allegiant Stadium.
      5355 S Decatur Blvd, Las Vegas, NV 89118
      View Details
    • $2,991,000
      3,327 SF

      NNN Leased Automotive Retail Property

      Automotive retail property with a long-term NNN lease.
      5890 N Rainbow Blvd, Las Vegas, NV 89118
      View Details
    • $2,200,000
      4,063 SF

      Premium Las Vegas Event Space

      NNN leased event space with annual increases.
      6635 Badura Ave, Las Vegas, NV 89118
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      45,438 SF

      Las Vegas Multi-Tenant Retail Center

      High-traffic retail center, excellent visibility
      5693 Jones Blvd, Las Vegas, NV 89118
      View Details
    • $24 SF/Yr
      6,405 SF

      Retail Space on Arville Street

      Retail space available on a corner lot with ample parking.
      4970 Arville St, Las Vegas, NV 89118
      View Details
    • Contact for pricing
      7,544 SF

      Retail Space on Rainbow Blvd

      Retail space with high visibility on a busy corridor.
      6410 S Rainbow Blvd, Las Vegas, NV 89118
      View Details
    • $1.75 SF/Yr
      4,990 SF

      Las Vegas Retail Space Available

      4,990 SF retail space for lease in Las Vegas.
      6010 S Rainbow Blvd, Las Vegas, NV 89118
      View Details
    • $2 SF/Yr
      3,336 SF

      Retail Space for Lease

      Retail space available for lease in Las Vegas, Nevada.
      6020 Badura Ave, Las Vegas, NV 89118
      View Details
    • Contact for pricing
      1,440 SF

      Retail Flex Space Available

      Small retail flex space in thriving industrial business park.
      5120 S Decatur Blvd, Las Vegas, NV 89118
      View Details
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    Las Vegas, NV 89118-1854
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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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