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Property profile & analytics
OFF-MARKET
Estimated value
$3,225,000
Drug stores
1402 Lk Mead Pkwy Henderson, NV 89015-4600
Individually Owned
20-yr Hold
Free & Clear
Property ID
US62-0242088
Property summary
AI-generated overview
This exceptional portfolio comprises nine CVS Pharmacy locations across six states (Nevada, New York, New Hampshire, North Carolina, California, and Florida). The properties total 122,245 square feet and are situated on approximately 18.95 acres of land. Each location features a drive-thru and benefits from a corporate guarantee, providing significant tenant credit strength. The portfolio is offered as an absolute NNN leasehold investment, eliminating landlord responsibilities. The weighted average lease term (WALT) is nine years, offering long-term stability and predictable cash flow. The properties boast strong average household incomes in their respective markets. The asking price is $21,724,000, representing a price per square foot of $177.71 and a compelling cap rate of 10.87%. The current net operating income (NOI) stands at $2,361,334. This portfolio presents a rare opportunity to acquire a diversified, high-performing retail investment with significant upside potential. Specific addresses and property details are available upon request.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,384 SF
Lot
1.67 ac (72,745 SF)
APN
160-33-411-003
UPID
US62-0242088
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
-
CVS Photo (Bike/Boat/Book/etc) Store
-
CVS Pharmacy Pharmacy
-
CVS Pharmacy
-
Coinhub Bitcoin ATM Teller Atm
-
UPS Access Point location Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.20M
Blend (final)
Blend
$3.23M
Owner & transaction history
Owner Name Unavailable · 20 yrs held
Owner Name Unavailable
since 2005
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.2M
+13.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,685,000
Current use
OFFICE BUILDING
$4,180,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$3.23M
Range $2.90M – $3.55M · ±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
$241 / 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
$24,280
Tax year 2023
Assessed value
$1,145,206
Assessed 2024
Previous assessed
$1,034,728
+10.7% YoY
Effective rate
2.12%
On assessed value
Assessed land
$229,147
Assessed improvement
$916,059
Land market value
$654,706
Improvement market value
$2,617,311
Total market value
$3,272,017
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
13,384 SF
Lot
1.67 ac (72,745 SF)
APN
160-33-411-003
UPID
US62-0242088
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
$3.7M
OFFICE BUILDING
Est. value
$4.2M
RETAIL STORES Current
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
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
1.67 ac
Current owner
From public records · entity-resolved
Owner Name Unavailable
Individual
Free & Clear · 20 yrs held
Mailing address
PO BOX 1610, COCKEYSVILLE, MD 21030-7610
Ownership since
2005
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 4, 2005
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
—
—
Lm Athens LLC
—
Deed Of Trust
related
$1,500,000 · Protective Life Insurance Co
—
—
Scp 2008-c28-502 LLC
—
Deed Of Trust
related
$3,279,414 · Wells Fargo Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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