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

    165 Tropicana Ave Las Vegas, NV 89109-7306

    • Motels
    • 71,148 SF
    • 3.63 lot acres
    OFF-MARKET
    Value Estimations
    $7,005,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0517221
    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

    • Howard Johnson by Wyndham Las Vegas near the Strip / Hotel & Motel
    • Hotel de nosotros / Hotel & Motel
    • El Tio Panzon - Best Birria in Las Vegas / Restaurant

    Property Details for 165 Tropicana Ave

    Year built
    1978
    Construction
    FRAME
    Lot size
    3.63 lot acres
    Property size
    71,148 SF
    Property type
    Motels
    APN
    162-28-102-014
    APU
    16228102014

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,125,000
      6.5%
      $8,425,000
      7%
      $7,820,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.166
    Latitude
    36.0986
    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
    2023
    $104,647
    $4,204,200
    $1,092,296
    $5,296,496
    -
    $12,012,000
    $3,120,846
    $15,132,846

    Comparable in this City

    • Value Estimation by Request
      1.16 Acres

      4250 Koval Ln

      MOTEL • 1.16 Acres
      4250 Koval Ln, Las Vegas, NV 89109-4568
      View Details
    • Value Estimation
      $4,050,000
      22,540 SF

      2651 Westwood Dr

      MOTEL • 22,540 SF
      2651 Westwood Dr, Las Vegas, NV 89109-1117
      View Details
    • Value Estimation
      $3,045,000
      35,374 SF

      2601 Westwood Dr

      MOTEL • 35,374 SF
      2601 Westwood Dr, Las Vegas, NV 89109-1117
      View Details
    • Value Estimation
      $11,015,000
      113,952 SF

      3225 Paradise Rd

      MOTEL • 113,952 SF
      3225 Paradise Rd, Las Vegas, NV 89109-9039
      View Details
    • Value Estimation
      $4,810,000
      57,297 SF

      3045 Maryland Pkwy

      MOTEL • 57,297 SF
      3045 Maryland Pkwy, Las Vegas, NV 89109-2202
      View Details
    • Value Estimation
      $8,690,000
      106,173 SF

      4250 Koval Ln

      MOTEL • 106,173 SF
      4250 Koval Ln, Las Vegas, NV 89109-4568
      View Details

    Similar Nearby for Sale

    • $372,000
      874 SF

      Las Vegas High-Rise Residence

      Fully furnished, income-producing, Airbnb-approved condo with resort amenities.
      125 E Harmon Ave, Las Vegas, NV 89109
      View Details
    • $305,000
      534 SF

      Trump International Hotel Studio Suite

      Furnished studio suite in Trump International Hotel with rental program.
      2000 N Fashion Show Dr, Las Vegas, NV 89109
      View Details
    • $339,500
      520 SF

      Strip View Studio in Tower

      Fully furnished studio with Strip view, approved for short-term rentals.
      135 E Harmon Ave, Las Vegas, NV 89109
      View Details
    • $359,000
      847 SF

      Luxury High-Rise Penthouse in Las Vegas

      Fully furnished 1-bed, 2-bath penthouse with resort-style amenities.
      135 E Harmon Ave, Las Vegas, NV 89109
      View Details
    • $275,000
      520 SF

      Las Vegas High-Rise Condo

      Furnished Las Vegas condo with strip and pool views.
      135 E Harmon Ave, Las Vegas, NV 89109
      View Details
    • $409,888
      847 SF

      MGM Grand Signature Suite

      20th-floor, fully furnished one-bedroom suite with balcony and luxury amenities.
      145 E Harmon Ave, Las Vegas, NV 89109
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      60,941 SF

      Sahara Towne Square Retail Spaces

      Las Vegas retail center; multiple spaces available.
      2510-2680 Maryland Pkwy, Paradise, NV 89109
      View Details
    • $0.14 SF/Yr
      49,703 SF

      Medical/Professional Office Space Available

      Medical/professional office space for lease in East Las Vegas Medical District.
      3059 S Maryland Pkwy, Las Vegas, NV 89109
      View Details
    • Contact for pricing
      60,697 SF

      Las Vegas Warehouse Space Available

      60,697 SF warehouse space for lease in Las Vegas.
      3702 Las Vegas Blvd S, Las Vegas, NV 89109
      View Details
    • $42 SF/Yr
      58,535 SF

      Paradise Esplanade Retail Spaces

      Las Vegas retail spaces, prime location.
      4480 Paradise Rd, Las Vegas, NV 89109
      View Details
    • Contact for pricing
      12,692 SF

      Grand Bazaar Shops Retail Spaces

      Las Vegas Blvd prime retail spaces available
      3635 Las Vegas Blvd, Las Vegas, NV 89109
      View Details
    • $12 SF/Yr
      6,039 SF

      Las Vegas Office Space for Lease

      Flexible workspace solutions in prime location.
      101 Convention Center Dr, Las Vegas, NV 89109
      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.
    165 Tropicana Ave
    Las Vegas, NV 89109-7306
    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.