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    7501 Lake Mead Blvd Las Vegas, NV 89128
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    7501 Lake Mead Blvd, Las Vegas, NV 89128

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    • Lifestyle centers
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • My Left Foot Children's Therapy / Physician
    • My Left Foot Children's Therapy - Summerlin North / Medical Clinic
    • James Fagiana: Allstate Insurance / Insurance Agency
    • TLC Computer Solutions / Computer & Electronic Repair
    • DMV Now Kiosk / Department Of Motor Vehicles

    Property Details for 7501 Lake Mead Blvd

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Summerhill Plaza, located at 7501 W Lake Mead Blvd, Las Vegas, NV 89128, presents a compelling investment opportunity in a prime location within Clark County. This retail center boasts a 99% occupancy rate, generating a secure and consistent income stream. The property's strategic position at the intersection of W Lake Mead Blvd (31,000+ ADT) and Buffalo Dr (42,000+ ADT) ensures high visibility and accessibility, attracting over 5,000 daily visitors. Six convenient access points further enhance customer convenience. The center is anchored by EOS Fitness, which recently completed a full remodel and signed a new 15-year lease, and also features Sola Salons, also with a 15-year lease, Starbucks, and Einstein Bros Bagels. These national tenants, along with others, contribute to a diverse and balanced retail environment. Over 80% of tenants have occupied the space for over a decade, demonstrating the property's enduring appeal. The surrounding area is characterized by affluent residential communities, including Summerlin and South Shores, with average incomes within a 3-mile and 5-mile radius exceeding $90,000 and $100,000 respectively, and projected to increase further by 2029. This strong demographic profile provides a robust customer base with significant purchasing power. The property's exceptional location, high occupancy, strong tenant mix, and affluent surrounding demographics make Summerhill Plaza an attractive investment opportunity with significant long-term potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.258
    Latitude
    36.195

    Comparable in this City

    • Value Estimation by Request

      7501 Lake Mead Blvd

      Neighborhood centers
      7501 Lake Mead Blvd, Las Vegas, NV 89128
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    • Value Estimation by Request
      12,172 SF

      7664 Lake Mead Blvd

      Individual retail properties
      7664 Lake Mead Blvd, Las Vegas, NV 89128
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    • Value Estimation by Request
      900 SF

      2249 Rampart Blvd

      Neighborhood centers
      2249 Rampart Blvd, Las Vegas, NV 89128
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    • Value Estimation
      $1,630,000
      9,000 SF

      8510 Lk Mead Blvd

      MINI-MALL
      8510 Lk Mead Blvd, Las Vegas, NV 89128-7636
      View Details
    • Value Estimation
      $2,535,000
      8,000 SF

      8544 Lk Mead Blvd

      MINI-MALL
      8544 Lk Mead Blvd, Las Vegas, NV 89128-7630
      View Details
    • Value Estimation
      $2,860,000
      11,169 SF

      7550 Lk Mead Blvd

      MINI-MALL
      7550 Lk Mead Blvd, Las Vegas, NV 89128-1062
      View Details

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      Retail Center on Lake Mead

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      Retail Space Available For Lease

      Retail space available for lease in Las Vegas, Nevada.
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      Neighborhood Retail Center For Lease

      Busy retail center with strong co-tenants in affluent area.
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      Anchored Shopping Center on Lake Mead

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      Retail spaces available in a busy, anchored shopping center.
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      Retail Space in Sea Breeze

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    Las Vegas, NV 89128
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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.

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