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    Property profile & analytics

    1275 Craig Rd North Las Vegas, NV 89032-0230

    • Outlet malls
    • 107,920 SF
    • 9.94 lot acres
    OFF-MARKET
    Value Estimations
    $9,265,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0506551
    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

    • Home Services at The Home Depot / General Contractor
    • The Home Depot / Building Supply / Hardware & Home Improvement
    • Pro Desk at The Home Depot / Big Box & Wholesale Store / Building Supply
    • AutoZone Auto Parts / Auto Parts Store
    • Compact Power Equipment Rental / (Bike/Boat/Book/etc) Store / Rental Equipment Company

    Property Details for 1275 Craig Rd

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    9.94 lot acres
    Property size
    107,920 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    139-04-701-025
    APU
    13904701025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.158
    Latitude
    36.238
    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
    $94,574
    $1,818,541
    $1,326,684
    $3,145,225
    -
    $5,195,831
    $3,790,526
    $8,986,357

    Comparable in this City

    • Value Estimation
      $3,140,000
      23,800 SF

      1435 Craig Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 23,800 SF
      1435 Craig Rd, North Las Vegas, NV 89032-0250
      View Details
    • Value Estimation
      $7,410,000
      56,450 SF

      1711 Craig Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 56,450 SF
      1711 Craig Rd, North Las Vegas, NV 89032-0225
      View Details
    • Value Estimation
      $17,685,000
      207,438 SF

      1807 Craig Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 207,438 SF
      1807 Craig Rd, North Las Vegas, NV 89032-0217
      View Details
    • Value Estimation
      $17,100,000
      200,911 SF

      3950 Lk Mead Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 200,911 SF
      3950 Lk Mead Blvd, North Las Vegas, NV 89032-4895
      View Details
    • Value Estimation
      $4,000,000
      30,176 SF

      1975 Craig Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 30,176 SF
      1975 Craig Rd, North Las Vegas, NV 89032-0331
      View Details
    • Value Estimation
      $10,515,000
      122,939 SF

      2189 Craig Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 122,939 SF
      2189 Craig Rd, North Las Vegas, NV 89032-3019
      View Details

    Similar Nearby for Sale

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      Retail shopping center near Lake Mead and Simmons with redevelopment potential.
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    Similar Nearby for Lease

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      1,375 SF

      Retail Space Near Walmart

      Inline and end-cap retail spaces available near Walmart.
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    • $1.05 SF/Yr

      North Las Vegas Retail Center

      Retail center in North Las Vegas with high visibility.
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      Retail Pad in Anchored Center

      Multi-tenant retail pad in North Las Vegas for lease.
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      Junior anchor opportunity in high-traffic North Las Vegas corridor.
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      Walmart-Anchored Shopping Center Space

      Retail spaces available in North Las Vegas shopping center.
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      1,330 SF

      Retail Space in Power Center

      Retail space available in regional power center anchored by Walmart.
      1515-1711 W Craig Rd, North Las Vegas, NV 89032
      View Details

    Property Visit Statistics

    • Visits by month
      71.4k
    • Visitors by month
      49.2k
    • Avg Time on site
      25 min
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    North Las Vegas, NV 89032-0230
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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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