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Property profile & analytics
OFF-MARKET
Estimated value
$5,970,000
Investment properties
197 California St 250 Las Vegas, NV 89104-1086
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US62-0793154
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2016
Construction
FRAME
Total area
17,431 SF
Lot
0.32 ac (13,939 SF)
APN
162-03-105-009
UPID
US62-0793154
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
$6.66M
CAP Approach
CAP
$4.05M
Comparable Approach
Comparable
$6.29M
Blend (final)
Blend
$5.97M
Owner & transaction history
197 E California Street LLC · 6 yrs held
197 E California Street LLC
since 2020
Last sale
$5.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.7M
+118.9%
Neighborhood: shopping center
$7.6M
+71.1%
Industrial (general)
$5.2M
+16.7%
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
$6,500,000
ML approach
$6,655,000
CAP Approach
CAP Return
Estimation
6%
$4,385,000
6.5%
$4,050,000
7%
$3,760,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,420,000
Current use
AUTO REPAIR, GARAGE
$9,680,000
Change: +119% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,565,000
Change: +71% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,160,000
Change: +17% · Conversion: Moderate
MEDICAL BUILDING
$4,795,000
Change: +8% · Conversion: Easy
RETAIL STORES
$4,300,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$5.97M
Range $5.37M – $6.57M · ±10% · vs last sale $5.68M (Mar 16 2020)
Last sale anchor
$5.68M
Mar 16 2020
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
$342 / 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
$26,252
Tax year 2023
Assessed value
$986,195
Assessed 2024
Previous assessed
$875,955
+12.6% YoY
Effective rate
2.66%
On assessed value
Assessed land
$146,360
Assessed improvement
$839,835
Land market value
$418,171
Improvement market value
$2,399,529
Total market value
$2,817,700
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2016
Construction
FRAME
Heating
YES
Stories
3
Total area
17,431 SF
Lot
0.32 ac (13,939 SF)
APN
162-03-105-009
UPID
US62-0793154
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
$4.4M
AUTO REPAIR, GARAGE
Est. value
$9.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.6M
INDUSTRIAL (GENERAL)
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$4.8M
RETAIL STORES
Est. value
$4.3M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
2016
Construction
FRAME
Heating
YES
Stories
3
Lot
0.32 ac
Current owner
From public records · entity-resolved
197 E California Street LLC
Entity
Mailing address
197 E CALIFORNIA ST #201, LAS VEGAS, NV 89104-1085
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 4, 2020
—
Cheng,catherine K Trust
—
Deed
related
$1,830,000 · One Nv Cu
Mar 16, 2020
—
197 E California Street LLC
Cheng Catherine K Trust
Quit Claim Deed
related
—
Mar 12, 2020
$5,680,000
Cheng,catherine K Trust
California LP
Correction Deed
—
Mar 11, 2020
—
Cheng,catherine K Trust
California Loft Partners LLC
Correction Deed
related
—
Feb 13, 2020
$568,000
Cheng,catherine K Trust
California Loft Partners LLC
Correction Deed
—
Jan 7, 2020
$5,680,000
Cheng,catherine K Trust
California Loft Partners LLC
Grant Deed
$1,830,000 · One Nv Cu
May 17, 2018
—
California Loft Partners LLC
—
Deed
related
$4,000,000 · Bank Of The West
—
—
Cheng,catherine K Trust
—
Deed Of Trust
related
$1,830,000 · One Nv Cu
—
—
California Loft Partners LLC
—
Deed Of Trust
related
$4,000,000 · Bank Of The West
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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