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    Property profile & analytics

    5191 Charleston Blvd Las Vegas, NV 89146

    • Neighborhood centers
    • 3.74 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dotty's / Hotel & Motel / Resort
    • afandi market / Specialty Food Shop / Supermarket
    • Whispers + Honey: Same Day Flower Delivery Las Vegas / (Bike/Boat/Book/etc) Store / Florist
    • Love Toys & Lingerie / (Bike/Boat/Book/etc) Store
    • RED ROCK PLAZA / Shopping Center & Mall

    Property Details for 5191 Charleston Blvd

    Year built
    2006
    Lot size
    3.74 lot acres
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Red Rock Plaza, located at 5191 W Charleston Blvd, Las Vegas, NV 89146, offers exceptional office and retail opportunities. This three-building complex, built in 2006, sits on 3.74 acres and features single-story buildings. The property boasts a convenient location near a dense residential area, ensuring high visibility and foot traffic. Two spaces are currently available, ranging from 2,010 to 2,800 square feet. Suite 190 is ideal for executive suites, offering individual offices. Suite 120, a former restaurant, includes a walk-in refrigerator, rotating oven, freezer, and range grill, making it perfect for a variety of food-related businesses or adaptable to other uses. The property benefits from a busy center with signalized ingress and egress, ensuring easy access for both customers and employees. The property's APN is 163-01-515-001. Further details and demographic information can be found at the provided link. This is a multi-tenant property offering a versatile range of spaces to suit various business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.211
    Latitude
    36.1585

    Comparable in this City

    • Value Estimation by Request

      5239-5247 Charleston Blvd

      Lifestyle centers
      5239-5247 Charleston Blvd, Las Vegas, NV 89146
      View Details
    • Value Estimation by Request
      4,076 SF

      5247 Charleston Blvd

      Lifestyle centers • 4,076 SF
      5247 Charleston Blvd, Las Vegas, NV 89146
      View Details
    • Value Estimation by Request

      5239 Charleston Blvd

      Lifestyle centers
      5239 Charleston Blvd, Las Vegas, NV 89146
      View Details
    • Value Estimation
      $12,345,000
      49,430 SF

      6322 Sahara Ave

      SHOPPING CENTER, STRIP CENTER • 49,430 SF
      6322 Sahara Ave, Las Vegas, NV 89146-3035
      View Details
    • Value Estimation
      $4,365,000
      19,670 SF

      Las Vegas, NV 89146

      SHOPPING CENTER, STRIP CENTER • 19,670 SF
      Las Vegas, NV 89146
      View Details
    • Value Estimation
      $7,955,000
      35,659 SF

      2217 Rainbow Blvd

      SHOPPING CENTER, STRIP CENTER • 35,659 SF
      2217 Rainbow Blvd, Las Vegas, NV 89146-2979
      View Details

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    Similar Nearby for Lease

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      Red Rock Plaza: Las Vegas Office Space

      Prime Las Vegas office & retail space. Multiple suites available.
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      Las Vegas Retail Center - Rainbow Blvd

      High-traffic retail space, multiple suites available.
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      Rainbow Retail Center Space Available

      Retail spaces available in a busy Las Vegas retail corridor.
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      27,000 SF

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      27,000+ SF retail space on Rainbow Blvd for rent.
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      Las Vegas Office Space for Lease

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      Rainbow Plaza Executive Suites

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    5191 Charleston Blvd
    Las Vegas, NV 89146
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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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