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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1083 Tropicana Ave Las Vegas, NV 89119-6614

    • Strip malls
    • 10,800 SF
    • 1.43 lot acres
    OFF-MARKET
    Value Estimations
    $2,810,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0208596
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Strip malls

    Property Details for 1083 Tropicana Ave

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.43 lot acres
    Property size
    10,800 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    162-27-502-002
    APU
    16227502002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,040,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.139
    Latitude
    36.1002
    CBSA code
    29820
    CBSA name
    LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,490
    $446,938
    $199,962
    $646,900
    -
    $1,276,966
    $571,320
    $1,848,286

    Comparable in this City

    • Value Estimation
      $4,170,000
      13,200 SF

      670 Flamingo Rd

      SHOPPING CENTER, STRIP CENTER • 13,200 SF
      670 Flamingo Rd, Las Vegas, NV 89119-7307
      View Details
    • Value Estimation
      $4,990,000
      20,055 SF

      3999 Las Vegas S Blvd

      SHOPPING CENTER, STRIP CENTER • 20,055 SF
      3999 Las Vegas S Blvd, Las Vegas, NV 89119-1001
      View Details
    • Value Estimation
      $4,280,000
      14,268 SF

      5025 Eastern Ave

      SHOPPING CENTER, STRIP CENTER • 14,268 SF
      5025 Eastern Ave, Las Vegas, NV 89119-2318
      View Details
    • Value Estimation
      $9,330,000
      43,349 SF

      1775 Tropicana Ave

      SHOPPING CENTER, STRIP CENTER • 43,349 SF
      1775 Tropicana Ave, Las Vegas, NV 89119-6529
      View Details
    • Value Estimation
      $5,675,000
      23,895 SF

      7211 Eastern Ave

      SHOPPING CENTER, STRIP CENTER • 23,895 SF
      7211 Eastern Ave, Las Vegas, NV 89119-4574
      View Details
    • Value Estimation
      $3,985,000
      15,060 SF

      4131 Eastern Ave

      SHOPPING CENTER, STRIP CENTER • 15,060 SF
      4131 Eastern Ave, Las Vegas, NV 89119-8211
      View Details

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    Similar Nearby for Lease

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      Retail spaces available in renovated shopping center near UNLV.
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      Las Vegas Retail Space Available

      Retail spaces available with high traffic intersection in Las Vegas.
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      View Details
    • Contact for pricing
      25,680 SF

      Former CVS Space For Lease

      25,860 SF retail space in a busy Las Vegas strip mall.
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    • Contact for pricing
      560,000 SF

      McCarran Marketplace Retail Center

      Las Vegas retail center, 8 spaces available
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    • $33 SF/Yr
      7,098 SF

      Palm Court Restaurant Space

      Las Vegas Restaurant - 2,008 SF Available
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      View Details
    • Contact for pricing
      1,208 SF

      Retail Space in McCarran Marketplace

      Retail spaces available in a Walmart and Lowe's anchored center.
      5905 S Eastern Ave, Las Vegas, NV 89119
      View Details
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    1083 Tropicana Ave
    Las Vegas, NV 89119-6614
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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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