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Property profile & analytics
FOR LEASE
Parking lots & garages
101 Convention Center Dr Las Vegas, NV 89109
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US62-0031672
For Lease
1 / 5
$25.80 SF/Yr
101 Convention Center Dr, Las Vegas, NV 89109
View Listing →
Property summary
AI-generated overview
The Plaza, located at 101 Convention Center Drive in Las Vegas, Nevada, offers an exceptional retail opportunity. This 96,100 square foot commercial space is situated on the ground floor and mezzanine of a building, with two contiguous floors available totaling the entire space. Divisible spaces range from a minimum of 42,488 square feet to a maximum of 53,612 contiguous square feet, providing flexibility for various retail concepts. The property boasts a highly desirable location on Convention Center Drive, between Paradise Road and Las Vegas Boulevard, directly across from the West Wing of the Las Vegas Convention Center. This prime location offers unparalleled access to The Strip, McCarran International Airport, and major freeways, ensuring high visibility and foot traffic. The space is currently vacant and move-in ready. Outdoor patio space is also available. Ideal uses include restaurants, food halls, gyms, convenience stores, and various service-oriented businesses. The property is in Clark County, zip code 89109.
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1980
Construction
STEEL FRAME
Total area
220,672 SF
Lot
3.3 ac (143,748 SF)
APN
162-09-805-017
UPID
US62-0031672
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Las Vegas Power Electric Utility Company Business Center
-
Vantage Point Consulting Group LLC Consultant
-
Just Right! Destination Management Event Planning Wedding Service
-
GüdFüd Big Box & Wholesale Store
-
Dreams In Detail Event Planning Wedding Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.05M
Owner & transaction history
Concord Prime LLC · 14 yrs held
Concord Prime LLC
since 2011
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Las Vegas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$1,075,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$5 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$164,684
Tax year 2023
Assessed value
$16,413,719
Assessed 2024
Previous assessed
$15,141,506
+8.4% YoY
Effective rate
1.00%
On assessed value
Assessed land
$4,286,566
Assessed improvement
$12,127,153
Land market value
$12,247,331
Improvement market value
$34,649,009
Total market value
$46,896,340
Applied tax rate
410.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
1980
Construction
STEEL FRAME
Heating
HEAT PUMP
Buildings
4
Stories
3
Total area
220,672 SF
Lot
3.3 ac (143,748 SF)
APN
162-09-805-017
UPID
US62-0031672
Jurisdiction
CLARK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1980
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
3
Buildings
4
Lot
3.3 ac
Current owner
From public records · entity-resolved
Concord Prime LLC
Entity
Mailing address
888 S FIGUEROA ST STE #1900, LOS ANGELES, CA 90017-5324
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2019
—
Vegasstarr LLC
—
Deed
related
$10,000,000 · Private Bk
May 18, 2016
—
Vegasstarr LLC
—
Deed
related
$10,000,000 · City Nat'l Bk
Dec 29, 2011
$13,300,000
Concord Prime LLC
Tomorrow 33 Convention LP
Grant Deed
—
—
—
Vegasstarr LLC
—
Deed Of Trust
related
$10,000,000 · Private Bk
—
—
Vegasstar LLC
—
Deed Of Trust
related
$12,650 · Bank Of America
—
—
Vegasstarr LLC
—
Deed Of Trust
related
$10,000,000 · City Nat'l Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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