Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Tropicana Ave And Koval Ln Las Vegas, NV 89109

    • Land
    • 1.15 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Tropicana Ave And Koval Ln

    Lot size
    1.15 lot acres
    Property type
    Land

    Description

    This exceptional 1.15-acre development site presents a unique investment opportunity in the heart of Las Vegas's Resort Corridor, situated near Tropicana Avenue and Koval Lane in Paradise, Nevada (zip code 89109). The property boasts a prime location, strategically positioned between McCarran International Airport (less than 2 miles south) and the Las Vegas Convention Center (under 2.5 miles north), capitalizing on significant traffic flow generated by these major attractions. Its proximity to Top Golf and the recently acquired UNLV property (Trop42) further enhances its desirability. This land is zoned for development and offers the potential for a substantial return on investment. The site's size and location make it ideal for various projects, including the proposed dual-branded hotel concept. This is a rare chance to acquire a large parcel in a high-demand area with exceptional visibility and access to key transportation arteries. The asking price for this exceptional development opportunity is $7,500,000. Detailed site plans and zoning information are available upon request. This is a truly exceptional opportunity to acquire a significant piece of Las Vegas real estate.

    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
    -115.164
    Latitude
    36.101

    Comparable in this City

    • Value Estimation by Request
      0.05 Acres

      130 Albert Ave, Unit 22

      VACANT COMMERCIAL LAND • 0.05 Acres
      130 Albert Ave, Las Vegas, NV 89109-9109
      View Details
    • Value Estimation by Request
      0.11 Acres

      Las Vegas, NV 89109

      VACANT COMMERCIAL LAND • 0.11 Acres
      Las Vegas, NV 89109
      View Details
    • Value Estimation by Request
      0.34 Acres

      Unassigned Situs

      VACANT COMMERCIAL LAND • 0.34 Acres
      Unassigned Situs, Las Vegas, NV 89109
      View Details
    • Value Estimation by Request
      0.52 Acres

      3175 Paradise Rd

      VACANT COMMERCIAL LAND • 0.52 Acres
      3175 Paradise Rd, Las Vegas, NV 89109
      View Details
    • Value Estimation by Request
      0.51 Acres

      3025 Highland Dr

      VACANT COMMERCIAL LAND • 10,400 SF
      3025 Highland Dr, Las Vegas, NV 89109-1048
      View Details
    • Value Estimation by Request
      10.50 Acres

      4400 Koval Ln

      VACANT COMMERCIAL LAND • 10.50 Acres
      4400 Koval Ln, Las Vegas, NV 89109
      View Details

    Similar Nearby for Sale

    • $2,000,000
      1.26 Acres

      Las Vegas Industrial Land Opportunity

      1.26 Acres, Prime Location, High Demand
      3025 Highland Dr, Las Vegas, NV 89109
      View Details
    • $595,000

      9.24 Acres Rural Open Land

      9.24 acres of rural open land near Las Vegas.
      300 E Quartz Ave, Sandy Valley, NV 89109
      View Details
    • $12,000,000
      1.51 Acres

      Las Vegas Resort Land - $12M

      1.51 Acres, Resort Corridor, High-Demand
      4784 Koval Ln, Las Vegas, NV 89109
      View Details
    • $3,250,000

      Las Vegas Land Opportunity

      Land available on Las Vegas Boulevard North.
      3825 Las Vegas Blvd N, Las Vegas, NV 89109
      View Details
    • $131,000
      1.99 Acres

      Residential Land in Sandy Valley

      1.99 acre residential land parcel near Las Vegas.
      315 Cook St, Las Vegas, NV 89109
      View Details
    • $12,000,000
      88,486 SF

      Las Vegas Mixed-Use Development Opportunity

      3.61 acres near the Strip with mixed-use zoning.
      2753 S Highland Dr, Las Vegas, NV 89109
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      308,400 SF

      Highland Industrial Park Warehouses

      Las Vegas industrial space: flexible options available.
      2901 Highland Dr, Las Vegas, NV 89109
      View Details
    • $9,000,000

      Las Vegas Land For Rent

      Land available for rent in Las Vegas, Nevada.
      4784 Koval Ln, Las Vegas, NV 89109
      View Details
    • Contact for pricing

      Chinatown Land for Ground Lease

      0.45 acre commercial land available for ground lease.
      Spring Mountain Rd, Las Vegas, NV 89109
      View Details
    • $15 SF/Yr
      60,941 SF

      Sahara Towne Square Retail Spaces

      Las Vegas retail center; multiple spaces available.
      2510-2680 Maryland Pkwy, Paradise, NV 89109
      View Details
    • $36 SF/Yr
      3,000 SF

      Retail Space on Las Vegas Blvd

      3,000 SF retail space available for lease.
      3206 Las Vegas Blvd N, Las Vegas, NV 89109
      View Details
    • Contact for pricing
      60,697 SF

      Las Vegas Warehouse Space Available

      60,697 SF warehouse space for lease in Las Vegas.
      3702 Las Vegas Blvd S, Las Vegas, NV 89109
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Tropicana Ave And Koval Ln
    Las Vegas, NV 89109
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.