Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1422 Western Ave Las Vegas, NV 89102-2602

    • Office buildings
    • 11,722 SF
    • 0.30 lot acres
    OFF-MARKET
    Last Sale
    May 17, 2021
    $1,950,000
    Value Estimations
    $2,465,000
    Show details
    Cap Rate Potential
    6.9%
    Office buildings
    Location Intelligence
    Property ID
    US62-0519862
    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

    • NJA Ebay Drop Off Store / Store
    • The Punk Rock Museum / Wedding Venue / Museum
    • Software Primo / Computer Service
    • The Triple Down / Bar
    • The Shop at The Punk Rock Museum / Tattoo Shop

    Property Details for 1422 Western Ave

    Year built
    1962
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.30 lot acres
    Property size
    11,722 SF
    Property type
    Office buildings
    APN
    162-04-602-006
    APU
    16204602006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,780,000
      ML approach
      $2,940,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,205,000
      6.5%
      $2,960,000
      7%
      $2,750,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,195,000
      Market price range: $2.20M - $4.99M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,515,000
      Current use
      MEDICAL BUILDING
      $3,225,000
      Change: -8% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,890,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.161
    Latitude
    36.1543
    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
    2021
    $4,600
    $73,181
    $108,539
    $181,720
    -
    $209,089
    $310,111
    $519,200

    Comparable in this City

    • Value Estimation by Request
      168,780 SF

      2300 Sahara Ave Ste, Unit 1170

      OFFICE BUILDING • 168,780 SF
      2300 Sahara Ave Ste, Las Vegas, NV 89102-4353
      View Details
    • Value Estimation
      $12,475,000
      50,800 SF

      4525 Spg Mtn Rd

      PROFESSIONAL BUILDING • 50,800 SF
      4525 Spg Mtn Rd, Las Vegas, NV 89102-8751
      View Details
    • Value Estimation
      $23,230,000
      70,938 SF

      2700 Sahara Ave

      OFFICE BUILDING • 70,938 SF
      2700 Sahara Ave, Las Vegas, NV 89102-4328
      View Details
    • Value Estimation
      $23,360,000
      104,550 SF

      2251 Decatur Blvd

      OFFICE BUILDING • 104,550 SF
      2251 Decatur Blvd, Las Vegas, NV 89102-8586
      View Details
    • Value Estimation
      $525,000
      3,500 SF

      1321 Commerce St

      PROFESSIONAL BUILDING • 3,500 SF
      1321 Commerce St, Las Vegas, NV 89102-2530
      View Details
    • Value Estimation by Request
      1,760 SF

      4312 Charleston Blvd

      OFFICE BUILDING • 1,760 SF
      4312 Charleston Blvd, Las Vegas, NV 89102-1635
      View Details

    Similar Nearby for Sale

    • $29,850,000
      228,590 SF

      Sahara Financial Center Opportunity

      Value-add office building with significant upside potential in Las Vegas.
      3300-3380 W Sahara Ave, Las Vegas, NV 89102
      View Details
    • $16,300,000
      125,884 SF

      Las Vegas Office Portfolio: Value-Add

      125,884 SF, 87% Occupancy, High NOI
      2200 Rancho Dr, Las Vegas, NV 89102
      View Details
    • $29,850,000
      228,590 SF

      3300 Sahara Ave

      Office Properties & Spaces • 228,590 SF
      3300 Sahara Ave, Las Vegas, NV 89102
      View Details
    • $3,300,000
      12,190 SF

      Multi-Tenant Industrial Building Near Strip

      Multi-tenant industrial building in Chinatown district, near the Las Vegas Strip.
      Las Vegas, NV 89102
      View Details
    • Contact for pricing

      Las Vegas Redevelopment Opportunity

      8.16-acre site near Chinatown with redevelopment potential.
      3400 Procyon St, Las Vegas, NV 89102
      View Details
    • $1,383,000
      2,405 SF

      7-Eleven Retail Property For Sale

      NNN leased 7-Eleven in Las Vegas with high traffic.
      4380 W Desert Inn Rd, Las Vegas, NV 89102
      View Details

    Similar Nearby for Lease

    • $1.08 SF/Yr
      6,160 SF

      Multi-Tenant Office Center For Rent

      Two-story office building in the Resort Corridor submarket.
      1818 S Industrial Rd, Las Vegas, NV 89102
      View Details
    • $1.00 SF/Yr
      25,328 SF

      Modern Office Space in Las Vegas

      Under construction office space with easy access to major routes.
      3020 S Valley View Blvd, Las Vegas, NV 89102
      View Details
    • $1,429 /Mo
      1,680 SF

      Office Space with Courtyard Views

      Office space featuring a reception area, kitchen, and courtyard views.
      2820 W Charleston Blvd, Las Vegas, NV 89102
      View Details
    • $18 SF/Yr
      25,445 SF

      Charleston Office Park: Medical Office Space

      Prime Medical Office Space in Las Vegas
      2915 Charleston Blvd, Las Vegas, NV 89102
      View Details
    • $17 SF/Yr
      22,460 SF

      Sahara Ave Office Space

      5,584 SF Office/Medical Suite
      2500 Sahara Ave, Las Vegas, NV 89102
      View Details
    • $1.35 SF/Yr
      97,066 SF

      Valley Oaks Plaza: Las Vegas Retail

      Prime Las Vegas retail space, high visibility, ample parking.
      3846 Sahara Ave, Las Vegas, NV 89102
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1422 Western Ave
    Las Vegas, NV 89102-2602
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.