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Property profile & analytics
OFF-MARKET
Estimated value
$5,875,000
Strip malls
1331 Warm Spgs Rd Henderson, NV 89014-8802
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0460178
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
FRAME
Total area
18,020 SF
Lot
2.32 ac (101,059 SF)
APN
178-10-110-030
UPID
US62-0460178
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
$5.33M
CAP Approach
CAP
$6.80M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.88M
Owner & transaction history
Bruce A Watters · 4 yrs held
Bruce A Watters
since 2022
Last sale
$6.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.1M
+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
$5,135,000
ML approach
$5,330,000
CAP Approach
CAP Return
Estimation
6%
$7,365,000
6.5%
$6,800,000
7%
$6,315,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$7,935,000
Current use
AUTO REPAIR, GARAGE
$8,075,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$5.88M
Range $5.29M – $6.46M · ±10% · vs last sale $6.06M (Jan 4 2022)
Last sale anchor
$6.06M
Jan 4 2022
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
$326 / 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
$30,331
Tax year 2023
Assessed value
$1,433,163
Assessed 2024
Previous assessed
$1,334,772
+7.4% YoY
Effective rate
2.12%
On assessed value
Assessed land
$636,672
Assessed improvement
$796,491
Land market value
$1,819,063
Improvement market value
$2,275,689
Total market value
$4,094,752
Applied tax rate
505.0000
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
2005
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Total area
18,020 SF
Lot
2.32 ac (101,059 SF)
APN
178-10-110-030
UPID
US62-0460178
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
$7.9M
AUTO REPAIR, GARAGE
Est. value
$8.1M
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
2005
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Lot
2.32 ac
Current owner
From public records · entity-resolved
Bruce A Watters
Individual
Mailing address
PO BOX 1493, QUEEN CREEK, AZ 85142-1833
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2022
—
Bruce A Watters
Bruce A Watters
Intrafamily Transfer
related
$3,835,000 · Unify Financial FCU
Aug 9, 2017
—
Watters,bruce A & Carol A Trust
Watters,bruce A & Carol A
Quit Claim Deed
related
—
Nov 18, 2011
—
Watters B A & C A Living Trust
Watters,bruce A & Carol A
Quit Claim Deed
related
—
Apr 29, 2008
$6,059,625
Bruce A Watters
Emily Land Dev Co LLC
Grant Deed
$4,275,000 · First Savings Bank
Feb 15, 2008
—
Emily Land Dev Co LLC
Emily Land Dev Co LLC
Quit Claim Deed
—
Aug 5, 2003
—
Emily Land Development Co LLC
Iadanza,anthony & Tracy
Grant Deed
related
—
Dec 26, 2002
$140,530
Anthony Iadanza
Henderson City (nv)
Grant Deed
—
—
—
Bruce A Watters
—
Deed Of Trust
related
$3,720,000 · Wells Fargo Bk
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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