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Property profile & analytics
OFF-MARKET
Estimated value
$2,030,000
Strip malls
115 Water St Henderson, NV 89015-7221
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US62-0405285
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,390 SF
Lot
0.21 ac (9,148 SF)
APN
179-18-710-044
UPID
US62-0405285
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
-
Unlimited Jiu Jitsu Training Center Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.41M
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$2.03M
Owner & transaction history
J Paul M LLC · 1 yrs held
J Paul M LLC
since 2025
Last sale
$2.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.9M
+1.8%
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 Henderson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Henderson 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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,610,000
6.5%
$2,410,000
7%
$2,240,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,815,000
Current use
AUTO REPAIR, GARAGE
$2,865,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$2.03M
Range $1.83M – $2.23M · ±10% · vs last sale $1.99M (Oct 15 2024)
Last sale anchor
$1.99M
Oct 15 2024
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
$318 / 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
$2,797
Tax year 2023
Assessed value
$119,715
Assessed 2024
Previous assessed
$101,695
+17.7% YoY
Effective rate
2.34%
On assessed value
Assessed land
$38,417
Assessed improvement
$81,298
Land market value
$109,763
Improvement market value
$232,280
Total market value
$342,043
Applied tax rate
503.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
6,390 SF
Lot
0.21 ac (9,148 SF)
APN
179-18-710-044
UPID
US62-0405285
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
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
J Paul M LLC
Entity
Mailing address
2460 DEVOTION RDG DR, HENDERSON, NV 89052-5674
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2025
$1,985,000
J Paul M LLC
H2o Street LLC
Bargain & Sale Deed
$1,985,000 · H2o Street LLC
Feb 8, 2019
—
H2o Street LLC
Oddenino,alexandra
Quit Claim Deed
related
—
Dec 4, 2018
—
H23o Street LLC
Oddenino,alexandra
Quit Claim Deed
related
—
Oct 30, 2012
$300,000
Alexandra Oddenino
Water Street Trust
Grant Deed
—
Jan 6, 1995
$500,000
Water Street Trust
Z Leasing Co
Grant Deed
$345,000 · Seller
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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