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Property profile & analytics
OFF-MARKET
Estimated value
$5,070,000
Retail space
1401 Rainbow Blvd, Las Vegas, NV 89108-1864
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US62-0430777
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,482 SF
Lot
6.46 ac (281,398 SF)
APN
138-27-502-005
UPID
US62-0430777
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
-
New York New York hotel Hotel & Motel
-
Las Vegas Mini Grand Prix Family Fun Center Resort
-
Davis Funeral Homes & Memorial Park Social Service Agency
-
Near-By Storage Units Storage Facility
-
Las Vegas Grand Co. Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.96M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.52M
Blend (final)
Blend
$5.07M
Owner & transaction history
Las Vegas Mini Grand Prix Propertie · 3 yrs held
Las Vegas Mini Grand Prix Propertie
since 2023
Last sale
$5.2M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.6M
+92.8%
Commercial (general)
$6.6M
+69.2%
Auto repair, garage
$5.8M
+48.6%
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
$4,920,000
ML approach
$4,955,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,920,000
Current use
RESTAURANT
$7,555,000
Change: +93% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,630,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,820,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,550,000
Change: +16% · Conversion: Moderate
OFFICE BUILDING
$3,175,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$5.07M
Range $4.56M – $5.58M · ±10% · vs last sale $5.20M (Mar 15 2023)
Last sale anchor
$5.20M
Mar 15 2023
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
$484 / 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
$42,565
Tax year 2023
Assessed value
$2,072,259
Assessed 2024
Previous assessed
$1,962,291
+5.6% YoY
Effective rate
2.05%
On assessed value
Assessed land
$1,329,606
Assessed improvement
$742,653
Land market value
$3,798,874
Improvement market value
$2,121,866
Total market value
$5,920,740
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
10,482 SF
Lot
6.46 ac (281,398 SF)
APN
138-27-502-005
UPID
US62-0430777
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
RETAIL STORES Current
Est. value
$3.9M
RESTAURANT
Est. value
$7.6M
COMMERCIAL (GENERAL)
Est. value
$6.6M
AUTO REPAIR, GARAGE
Est. value
$5.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.6M
OFFICE BUILDING
Est. value
$3.2M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
6.46 ac
Current owner
From public records · entity-resolved
Las Vegas Mini Grand Prix Propertie
Individual
Mailing address
1401 N RAINBOW BLVD, LAS VEGAS, NV 89108-1864
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Mar 15, 2023
$5,200,000
Las Vegas Mini Grand Prix Propertie
Lvmgp Properties LLC
Bargain And Sale Deed
$5,200,000 · Lvmgp Properties LLC
Jan 28, 2022
$2,885,000
Lvmgp Properties LLC
Cashmac LLC
Bargain And Sale Deed
$2,307,000 · Cashmac LLC
Jan 14, 2000
—
Cashmac LLC
Mccall,james B
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.
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