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Property profile & analytics
FOR LEASE
Office buildings
1215 South Fort Apache Rd Las Vegas, NV 89117
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US62-0733014
For Lease
1 / 2
$8,550,000
1215 South Fort Apache Rd, Las Vegas, NV 89117
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
32,251 SF
Lot
4.31 ac (187,744 SF)
APN
163-05-116-006
UPID
US62-0733014
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.15M
Comparable Approach
Comparable
$10.48M
Blend (final)
Blend
$8.55M
Owner & transaction history
Rw Apache LLC · 6 yrs held
Rw Apache LLC
since 2019
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$14.0M
+50.9%
Retail stores
$12.1M
+29.9%
Industrial (general)
$9.6M
+2.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$8,825,000
6.5%
$8,145,000
7%
$7,565,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,280,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$14,000,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$12,055,000
Change: +30% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$9,550,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$8.55M
Range $7.70M – $9.41M · ±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
$265 / 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
$118,711
Tax year 2023
Assessed value
$4,044,303
Assessed 2024
Previous assessed
$3,637,146
+11.2% YoY
Effective rate
2.94%
On assessed value
Assessed land
$1,330,636
Assessed improvement
$2,713,667
Land market value
$3,801,817
Improvement market value
$7,753,334
Total market value
$11,555,151
Applied tax rate
200.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
32,251 SF
Lot
4.31 ac (187,744 SF)
APN
163-05-116-006
UPID
US62-0733014
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
OFFICE BUILDING Current
Est. value
$9.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.0M
RETAIL STORES
Est. value
$12.1M
INDUSTRIAL (GENERAL)
Est. value
$9.6M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
4.31 ac
Current owner
From public records · entity-resolved
Rw Apache LLC
Entity
Mailing address
PO BOX 1037, HONOLULU, HI 96808-1037
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2019
$21,100,000
Rw Apache LLC
Ljp Properties I LP
Grant Deed
related
$1,000,000,000 · Miscellaneous Ins Co
Oct 20, 2015
$18,400,000
Ljt Properties I LP
Fort Apache Commons Park LLC
Grant Deed
$5,000,000 · Wells Fargo Bk
Sep 9, 2015
—
Fort Apache Commons Park LLC
Fort Apache Commons Park LLC
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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