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Property profile & analytics
OFF-MARKET
Estimated value
$13,730,000
Manufacturing properties
1181 Grier Dr Las Vegas, NV 89119-3791
Individually Owned
6-yr Hold
Free & Clear
Property ID
US62-0466035
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1989
Construction
CONCRETE
Total area
65,485 SF
Lot
4.24 ac (184,694 SF)
APN
177-03-612-009
UPID
US62-0466035
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
-
The Drink Ink Industrial Manufacturer Production Facility
-
Prosource Marketing & Advertising
-
T J Wholesale Distributors Big Box & Wholesale Store
-
Walker Digital Table Systems (Bike/Boat/Book/etc) Store Corporate Office
-
TERRY LYNN BARTMUS Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.03M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.37M
Blend (final)
Blend
$13.73M
Owner & transaction history
Columbia Nevada 1181 Grier Ind · 6 yrs held
Columbia Nevada 1181 Grier Ind
since 2020
Last sale
$12.0M
7 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
$13,730,000
ML approach
$11,025,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$19,390,000
Current use
Blend value · Realmo final
$13.73M
Range $12.36M – $15.10M · ±10% · vs last sale $12.00M (Apr 1 2020)
Last sale anchor
$12.00M
Apr 1 2020
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
$210 / 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
$59,456
Tax year 2023
Assessed value
$2,616,627
Assessed 2024
Previous assessed
$2,140,163
+22.3% YoY
Effective rate
2.27%
On assessed value
Assessed land
$969,644
Assessed improvement
$1,646,983
Land market value
$2,770,411
Improvement market value
$4,705,666
Total market value
$7,476,077
Applied tax rate
470.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1989
Construction
CONCRETE
Heating
OIL
Cooling
EVAPORATIVE
Stories
1
Total area
65,485 SF
Lot
4.24 ac (184,694 SF)
APN
177-03-612-009
UPID
US62-0466035
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
INDUSTRIAL (GENERAL) Current
Est. value
$19.4M
INDUSTRIAL (GENERAL) Current
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
1989
Construction
CONCRETE
Heating
OIL
Cooling
Yes
Stories
1
Lot
4.24 ac
Current owner
From public records · entity-resolved
Columbia Nevada 1181 Grier Ind
Individual
Free & Clear · 6 yrs held
Mailing address
120 N LA SALLE ST STE #2900, CHICAGO, IL 60602-2937
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2020
—
Columbia Nevada 1181 Grier Ind
—
Deed
related
$18,750,000 · Miscellaneous Ins Co
Apr 1, 2020
$12,000,000
Columbia Nevada 1181 Grier Ind
Bprep Hughes Airport LLC
Grant Deed
—
Apr 4, 2017
$49,600,434
Bprep Hughes Airport LLC
Realty Associates Fund Ix LP
Trustees Deed
$653,000,000 · Miscellaneous Ins Co
Jun 27, 2014
—
Realty Associates Fund Ix LP
—
Deed Of Trust
related
$88,485,500 · Prudential Insurance Co Americ
Nov 15, 2011
$36,250,000
Realty Associates Fund Ix LP
Cip Hughes Center LLC
Grant Deed
related
—
Jan 13, 2005
$22,300,000
Cip Hughes Center LLC
Las Vegas Airport Properties LLC
Bargain And Sale Deed
$27,112,500 · Barclays Capital Real Estate INC
—
—
Columbia Nevada 1181 Grier Ind
—
Deed Of Trust
related
$18,750,000 · Miscellaneous Ins Co
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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