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Property profile & analytics
OFF-MARKET
Estimated value
$5,355,000
Turn key restaurants
1870 Craig Rd North Las Vegas, NV 89032-0217
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0756162
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2019
Construction
FRAME
Total area
5,584 SF
Lot
2.07 ac (90,169 SF)
APN
139-04-201-014
UPID
US62-0756162
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
-
Red Lobster Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.86M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.36M
Owner & transaction history
W North Las Vegas LLC · 4 yrs held
W North Las Vegas LLC
since 2022
Last sale
$5.7M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 North Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$5,130,000
ML approach
$4,855,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$5,940,000
Current use
Blend value · Realmo final
$5.36M
Range $4.82M – $5.89M · ±10% · vs last sale $5.72M (Mar 1 2022)
Last sale anchor
$5.72M
Mar 1 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
$959 / 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
$28,230
Tax year 2023
Assessed value
$1,154,678
Assessed 2024
Previous assessed
$993,982
+16.2% YoY
Effective rate
2.44%
On assessed value
Assessed land
$504,946
Assessed improvement
$649,732
Land market value
$1,442,703
Improvement market value
$1,856,377
Total market value
$3,299,080
Applied tax rate
250.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2019
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
5,584 SF
Lot
2.07 ac (90,169 SF)
APN
139-04-201-014
UPID
US62-0756162
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
RESTAURANT Current
Est. value
$5.9M
RESTAURANT Current
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
2019
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
2.07 ac
Current owner
From public records · entity-resolved
W North Las Vegas LLC
Entity
Mailing address
450 S ORANGE AVE STE #800, ORLANDO, FL 32801-3344
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2022
$5,720,000
W North Las Vegas LLC
Red Lobster Hospitality LLC
Bargain And Sale Deed
$3,718,000 · Commercial Bank Of Ca
Apr 15, 2019
$1,200,000
Red Lobster Hospitality LLC
Pre Craig Clayton LLC
Grant Deed
—
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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