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Property profile & analytics
OFF-MARKET
Estimated value
$3,620,000
Commercial land
1621 Main St Las Vegas, NV 89104-1201
Entity Owned
4-yr Hold
Free & Clear
Property ID
US62-0356875
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1953
Construction
CONCRETE
Total area
13,802 SF
Lot
0.56 ac (24,394 SF)
APN
162-03-210-033
UPID
US62-0356875
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
$3.71M
CAP Approach
CAP
$3.21M
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$3.62M
Owner & transaction history
Proview Series 35 LLC · 4 yrs held
Proview Series 35 LLC
since 2022
Last sale
$3.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.0M
+71.1%
Industrial (general)
$4.1M
+16.7%
Medical building
$3.8M
+8.5%
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
$3,595,000
ML approach
$3,705,000
CAP Approach
CAP Return
Estimation
6%
$3,475,000
6.5%
$3,205,000
7%
$2,975,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,500,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,990,000
Change: +71% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$4,085,000
Change: +17% · Conversion: Moderate
MEDICAL BUILDING
$3,800,000
Change: +8% · Conversion: Easy
RETAIL STORES
$3,405,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$3.62M
Range $3.26M – $3.98M · ±10% · vs last sale $3.80M (Mar 16 2022)
Last sale anchor
$3.80M
Mar 16 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
$262 / 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
$1,742
Tax year 2023
Assessed value
$213,448
Assessed 2024
Previous assessed
$213,448
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$213,448
Land market value
$609,851
Total market value
$609,851
Applied tax rate
203.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1953
Construction
CONCRETE
Heating
NONE
Stories
2
Total area
13,802 SF
Lot
0.56 ac (24,394 SF)
APN
162-03-210-033
UPID
US62-0356875
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
COMMERCIAL (GENERAL) Current
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
INDUSTRIAL (GENERAL)
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.8M
RETAIL STORES
Est. value
$3.4M
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
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
1953
Construction
CONCRETE
Heating
NONE
Stories
2
Lot
0.56 ac
Current owner
From public records · entity-resolved
Proview Series 35 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
3726 LAS VEGAS BLVD S UNIT 3005W, LAS VEGAS, NV 89158-4394
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2022
$3,800,000
Proview Series 35 LLC
1621 S Main Street LLC
Bargain And Sale Deed
—
Apr 1, 2021
$2,315,000
1621 S Main Street LLC
Wyoming Oakey Acquisition LLC
Bargain And Sale Deed
$1,504,750 · American First National Bank
Oct 2, 2018
$1,500,000
Wyoming Oakey Acquisition LLC
Lyengar Indrani Living Trust
Grant Deed
—
Oct 2, 2018
—
Wyoming Oakey Acquisition LLC
Iyengar Indrani Living Trust
Grant Deed
related
—
May 21, 2009
—
The Indrani Iyengar Revocable Livin
Indra Properties Corporation
Re-recorded Document
related
$250,000 · Black Mountain Community Bank
Mar 31, 2009
—
Indrani Iyengar Revocable Living Tr
Indra Properties Corporation
Intrafamily Transfer
related
$250,000 · Black Mountain Community Bank
Jan 12, 2009
—
Iyengar Indrani Living Trust
Indra Properties Corp
Quit Claim Deed
related
—
Dec 10, 2008
—
Iyengar Indrani Living Trust
Indra Properties Corp
Quit Claim Deed
related
—
Feb 14, 2007
—
Satyanarayanan Chinnaswamy
Chinnaswamy,sarada
Quit Claim Deed
related
—
Feb 5, 2003
—
Iyengar Indrani
Indra Properties Corp
Quit Claim Deed
related
—
May 11, 1993
—
Satyanarayan Chinnaswamy
Iyengar,indrani
Grant Deed
related
—
Feb 26, 1988
$460,000
Indrani Etal Iyengar
Unknown
Grant Deed
—
—
—
Indra Properties Corp
—
Deed Of Trust
related
$539,000 · Schaefer Funds LLC
—
—
Iyengar,indrani Living Trust
—
Deed Of Trust
related
$632,305 · Sharma K K & P Tr (pt)
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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