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    Property profile & analytics

    4116 Craig Rd North Las Vegas, NV 89032

    • Neighborhood centers
    • 4.48 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Christopher Ngo, OD / Physician
    • Desert Vision & Eye Care / Physician
    • Jennifer A. Jensen, OD / Physician
    • Donald S. Mazzulla, OD / Physician
    • Advanced Chiropractic Spec / Alternative Medicine Practice

    Property Details for 4116 Craig Rd

    Year built
    2000
    Lot size
    4.48 lot acres
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    This North Las Vegas retail property, Craig Valley Plaza, offers three available spaces totaling 12,984 square feet in a vibrant strip center. Located at 4116 W Craig Rd, 89032, the property boasts excellent visibility and frontage on West Craig Road, experiencing over 53,000 cars per day. The spaces range from 1,600 to 2,850 square feet and are contiguous, allowing for flexible configurations to suit various business needs. A former hair/nail salon space of approximately 2,850 square feet is available. The center is anchored by established businesses including Denny's, Meadow's Eye Care, and Mighty Smiles Dentistry, ensuring a strong tenant mix and high foot traffic. Surrounding amenities include popular restaurants like Papa John's Pizza, PDQ, and Sonic Drive-Thru, along with pharmacies (Walgreens, CVS), TireWorks, and PT's Pub. The property benefits from its proximity to daycare centers, elementary schools, and medical and veterinary services. The area demonstrates strong demographics, with an average household income exceeding $85,242 within a 3-mile radius, providing a substantial customer base. Built in 2000, this 4.48-acre property presents a compelling opportunity for retail businesses seeking a prime location in a thriving community. The property is located in Clark County, Nevada.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.196
    Latitude
    36.2393

    Comparable in this City

    • Value Estimation
      $1,320,000
      7,980 SF

      3053 Craig Rd

      SHOPPING CENTER, STRIP CENTER • 7,980 SF
      3053 Craig Rd, North Las Vegas, NV 89032-5124
      View Details
    • Value Estimation
      $8,555,000
      46,478 SF

      4180 Craig Rd

      SHOPPING CENTER, STRIP CENTER • 46,478 SF
      4180 Craig Rd, North Las Vegas, NV 89032-2728
      View Details
    • Value Estimation
      $2,570,000
      28,699 SF

      345 Craig Rd

      SHOPPING CENTER, STRIP CENTER • 28,699 SF
      345 Craig Rd, North Las Vegas, NV 89032-1233
      View Details
    • Value Estimation
      $1,915,000
      19,988 SF

      3277 Craig Rd

      SHOPPING CENTER, STRIP CENTER • 19,988 SF
      3277 Craig Rd, North Las Vegas, NV 89032-0792
      View Details
    • Value Estimation
      $1,290,000
      3,996 SF

      N

      SHOPPING CENTER, STRIP CENTER • 3,996 SF
      N, Las Vegas, NV 89032
      View Details
    • Value Estimation
      $2,780,000
      16,660 SF

      1915 Craig Rd

      SHOPPING CENTER, STRIP CENTER • 16,660 SF
      1915 Craig Rd, North Las Vegas, NV 89032-0226
      View Details

    Similar Nearby for Sale

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      Northern Vistas Shopping Center

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      7,860 SF

      WSKY Bar + Grill Investment

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      11.78 Acres

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    • $1,800,000
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      1.00 Acre

      North Las Vegas Commercial Land

      Prime Retail Land, High Visibility
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      3,000 SF

      Craig Road Retail Pad Opportunity

      High-traffic, freestanding pad for sale/lease
      0 5Th St, North Las Vegas, NV 89032
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      7,253 SF

      Craig Valley Plaza Retail Spaces

      North Las Vegas retail center, high traffic.
      4116 Craig Rd, North Las Vegas, NV 89032
      View Details
    • Contact for pricing
      12,000 SF

      Craig Road Retail Pads

      North Las Vegas Restaurant/Retail Opportunity
      North Las Vegas, NV 89032
      View Details
    • $42 SF/Yr
      10,185 SF

      Craig Road Retail/Medical Space

      North Las Vegas, NV: Prime Medical Office Opportunity
      1650 Craig Rd, North Las Vegas, NV 89032
      View Details
    • $1.05 SF/Yr
      46,923 SF

      North Las Vegas Retail Center

      Retail center in North Las Vegas with high visibility.
      3925 N Martin Luther King, North Las Vegas, NV 89032
      View Details
    • Contact for pricing
      56,525 SF

      Retail Space in Power Center

      Retail space available in regional power center anchored by Walmart.
      1515-1711 W Craig Rd, North Las Vegas, NV 89032
      View Details
    • $27 SF/Yr
      27,277 SF

      North Mesa Plaza Retail Spaces

      Prime North Las Vegas Retail Opportunity
      1507 Craig Rd, North Las Vegas, NV 89032
      View Details
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    North Las Vegas, NV 89032
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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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