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

    1955 Tropicana Ave Las Vegas, NV 89119-6500

    • Strip malls
    • 10,781 SF
    • 0.85 lot acres
    OFF-MARKET
    Value Estimations
    $2,295,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0345427
    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

    • Caesars palace las vegas nv / Hotel & Motel
    • Chateau Gerideau Banquet Hall / Wedding Service
    • LibertyX Bitcoin ATM / Atm
    • Minute Loan Center / Loan Service
    • MoneyGram / Bank / Credit Union

    Property Details for 1955 Tropicana Ave

    Year built
    1993
    Construction
    FRAME
    Lot size
    0.85 lot acres
    Property size
    10,781 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    162-26-510-001
    APU
    16226510001

    Description

    This exceptional 1,600 square foot single-tenant office space is ideally situated at 1955 E Tropicana Ave, Suite J & K, Las Vegas, NV 89119. Located in a C2 zoned area, the property boasts direct, unobstructed frontage on Tropicana Avenue, offering unparalleled visibility and accessibility. Built in 1994 and renovated in 2017, the building features a single story design within a larger 21,875 square foot building. The space includes private restrooms, central air conditioning and heating, and fresh paint. High, open exposed ceilings and ductwork add to the modern aesthetic. The landlord will install new flooring. This prime location offers exceptional convenience, being just one mile from UNLV and the Thomas and Mac Center, 1.2 miles from the airport access onto Tropicana Avenue, and only two miles from the Las Vegas Strip. The property's strategic placement and modern amenities make it an ideal location for a variety of businesses. This is a rare opportunity to secure a well-maintained, highly visible office space in a thriving Las Vegas location. The cross street is Spencer Avenue.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.126
    Latitude
    36.1005
    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
    $11,429
    $155,509
    $299,388
    $454,897
    -
    $444,311
    $855,394
    $1,299,705

    Comparable in this City

    • Value Estimation by Request
      0.84 Acres

      3999 Las Vegas S Blvd

      SHOPPING CENTER, STRIP CENTER • 0.84 Acres
      3999 Las Vegas S Blvd, Las Vegas, NV 89119-1001
      View Details
    • Value Estimation
      $4,260,000
      6,240 SF

      5025 Eastern Ave

      SHOPPING CENTER, STRIP CENTER • 6,240 SF
      5025 Eastern Ave, Las Vegas, NV 89119-2318
      View Details
    • Value Estimation
      $2,785,000
      8,700 SF

      5715 Eastern Ave

      SHOPPING CENTER, STRIP CENTER • 8,700 SF
      5715 Eastern Ave, Las Vegas, NV 89119-3008
      View Details
    • Value Estimation
      $5,160,000
      24,400 SF

      1725 Warm Spgs Rd

      SHOPPING CENTER, STRIP CENTER • 24,400 SF
      1725 Warm Spgs Rd, Las Vegas, NV 89119-0420
      View Details
    • Value Estimation
      $6,510,000
      33,100 SF

      1801 Tropicana Ave

      SHOPPING CENTER, STRIP CENTER • 33,100 SF
      1801 Tropicana Ave, Las Vegas, NV 89119-6530
      View Details
    • Value Estimation
      $3,330,000
      14,326 SF

      310 Warm Spgs Rd

      SHOPPING CENTER, STRIP CENTER • 14,326 SF
      310 Warm Spgs Rd, Las Vegas, NV 89119-4245
      View Details

    Similar Nearby for Sale

    • $5,250,000
      25,000 SF

      Las Vegas Executive Office Building

      Prime 25,000 SF Office, NNN Lease
      311 Warm Springs Rd, Las Vegas, NV 89119
      View Details
    • $40,000,000
      10.07 Acres

      Las Vegas Blvd. Prime Development Land

      10 Acres, EM Zoning, $40M
      215 Beltway, Paradise, NV 89119
      View Details
    • $2,806,200
      12,472 SF

      Remodeled Office Building with Suites

      12,472 SF office building with leasing and parking income.
      330 E Warm Springs Rd, Las Vegas, NV 89119
      View Details
    • $14,990,000

      Las Vegas Land For Sale

      Land available on South Las Vegas Boulevard.
      4815 S Las Vegas Blvd, Las Vegas, NV 89119
      View Details
    • $2,400,000

      Land for Commercial Development

      Land available for build-to-suit or ground lease.
      W Russell Rd, Las Vegas, NV 89119
      View Details
    • $655,000

      Multifamily Property Near Las Vegas Strip

      Multifamily property near UNLV, airport, Las Vegas Strip.
      5155 Gray Ln, Las Vegas, NV 89119
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      233,412 SF

      Renovated Retail Space in Las Vegas

      Retail spaces available in renovated shopping center near UNLV.
      3990 E Flamingo Rd, Las Vegas, NV 89119
      View Details
    • Contact for pricing
      25,680 SF

      Former CVS Space For Lease

      25,860 SF retail space in a busy Las Vegas strip mall.
      1300-1370 E Flamingo Rd, Las Vegas, NV 89119
      View Details
    • Contact for pricing
      560,000 SF

      McCarran Marketplace Retail Center

      Las Vegas retail center, 8 spaces available
      5715-6035 Eastern Ave, Las Vegas, NV 89119
      View Details
    • $33 SF/Yr
      7,098 SF

      Palm Court Restaurant Space

      Las Vegas Restaurant - 2,008 SF Available
      6883 Eastern Ave, Las Vegas, NV 89119
      View Details
    • Contact for pricing
      1,208 SF

      Retail Space in McCarran Marketplace

      Retail spaces available in a Walmart and Lowe's anchored center.
      5905 S Eastern Ave, Las Vegas, NV 89119
      View Details
    • $3 SF/Yr
      12,728 SF

      Office and Retail Space Available

      Office and retail spaces for rent in Town Square.
      6671 South Las Vegas Blvd, Las Vegas, NV 89119
      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.
    1955 Tropicana Ave
    Las Vegas, NV 89119-6500
    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.