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    215 Sec North Las Vegas, NV 89084
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    215 Sec, North Las Vegas, NV 89084

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    • Retail properties & Spaces
    • 12,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 215 Sec

    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional North Las Vegas retail property, located at the intersection of Revere and 215 SEC North (APN 124-22-101-001 to 004), offers 12,500 square feet of vacant space across seven available units. The property sits on a substantial 37.63-acre lot and is zoned for General Commercial use, providing significant flexibility for a variety of retail businesses. Units range in size from a minimum of 1,200 square feet to a maximum contiguous space of 5,000 square feet, catering to diverse tenant needs. The property's location in Clark County, Nevada, offers excellent visibility and accessibility, making it an ideal location for businesses seeking high foot traffic and convenient access for customers. The entire 12,500 square feet is currently available for lease, presenting a unique opportunity for a single large tenant or multiple smaller businesses. This property is perfect for entrepreneurs looking to establish a presence in a thriving commercial area or for established businesses seeking expansion opportunities. The address is in North Las Vegas, NV 89084. This is a multi-tenant property with ample space for various retail concepts. The property's size and zoning make it a highly desirable investment opportunity.

    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
    -115.18
    Latitude
    36.2897

    Comparable in this City

    • Value Estimation by Request

      I-215 Beltway & Aliante Pkwy

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      1.04 Acres

      245 Centennial Pkwy

      Individual retail properties
      245 Centennial Pkwy, North Las Vegas, NV 89084
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    • Value Estimation by Request
      7,200 SF

      5Th St

      Restaurants
      0 5Th St, North Las Vegas, NV 89084
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    • Value Estimation by Request
      3.50 Acres

      7325 Aliante Pkwy

      Retail properties & Spaces
      7325 Aliante Pkwy, North Las Vegas, NV 89084
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    • Value Estimation by Request
      9,900 SF

      5992 Losee Rd

      Automotive properties
      5992 Losee Rd, North Las Vegas, NV 89084
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    • Value Estimation by Request
      1,800 SF

      7950 Decatur Blvd

      Restaurants
      7950 Decatur Blvd, North Las Vegas, NV 89084
      View Details

    Similar Nearby for Sale

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      Retail Property For Sale

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      1,833 SF

      New McDonald's Drive-Thru Investment

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      Retail Pad Opportunity Available

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      Retail space available in a neighborhood retail center.
      205 West Centennial Pkwy, North Las Vegas, NV 89084
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      Shopping Center Retail Space Available

      148,770 SF shopping center shadow-anchored by Walmart.
      6592 N Decatur Blvd, North Las Vegas, NV 89084
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      Land Near Future Development

      Land available near I-215 and upcoming commercial development.
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      Retail Property Near Tule Springs

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      North Las Vegas Retail Space

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      View Details
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    215 Sec
    North Las Vegas, NV 89084
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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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