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Property profile & analytics
OFF-MARKET
Estimated value
$357,005,000
Parking lots & garages
2000 Las Vegas S Blvd 890 Las Vegas, NV 89104-2507
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US62-0369212
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1987
Construction
CONCRETE
Total area
403,322 SF
Lot
3.06 ac (133,294 SF)
APN
162-04-710-041
UPID
US62-0369212
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
-
WET24 Pool Swimming Pool Hardware & Home Improvement
-
Remix Lounge Bar & Pub Nightclub
-
Psychic Tarot Chakra Meditation Astrologer
-
Mind Games Show Theater & Performing Art Venue
-
iLuminate Theater & Performing Art Venue Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$328.27M
Blend (final)
Blend
$357.01M
Owner & transaction history
Stratosphere Gaming LLC · 8 yrs held
Stratosphere Gaming LLC
since 2018
7 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$359,535,000
Current use
RESTAURANT
$290,665,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$357.01M
Range $321.30M – $392.71M · ±10%
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
$885 / 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
$65,736
Tax year 2023
Assessed value
$7,574,880
Assessed 2024
Previous assessed
$6,937,398
+9.2% YoY
Effective rate
0.87%
On assessed value
Assessed land
$3,822,610
Assessed improvement
$3,752,270
Land market value
$10,921,743
Improvement market value
$10,720,771
Total market value
$21,642,514
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1987
Construction
CONCRETE
Heating
NONE
Stories
7
Total area
403,322 SF
Lot
3.06 ac (133,294 SF)
APN
162-04-710-041
UPID
US62-0369212
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
PARKING LOT Current
Est. value
$359.5M
RESTAURANT
Est. value
$290.7M
PARKING LOT Current
RESTAURANT
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
1987
Construction
CONCRETE
Heating
NONE
Stories
7
Lot
3.06 ac
Current owner
From public records · entity-resolved
Stratosphere Gaming LLC
Entity
Free & Clear · 8 yrs held
Mailing address
6595 S JONES BLVD, LAS VEGAS, NV 89118-3337
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Jan 22, 2018
—
Stratosphere Gaming LLC
Stratosphere Gaming LLC
Quit Claim Deed
related
—
Oct 25, 2017
—
Stratosphere Gaming LLC
Stratosphere Gaming LLC
Intrafamily Transfer
related
$180,000,000 · Jpmorgan Chase Bank NA
Aug 18, 2009
—
W2007 Stratosphere Propco
—
Deed Of Trust
related
$395,000,000 · Bank Of Ny Mellon
Mar 5, 2008
—
W2007 Stratosphere Propco LLC
Stratosphere LLC
Quit Claim Deed
—
May 26, 2004
—
Stratosphere Corp
—
Deed Of Trust
related
$215,000,000 · Wilmington Trust Co Trustee
May 3, 2001
—
Stratosphere Corp
—
Deed Of Trust
related
$12,500,111 · American Real Estate Holdings
Nov 3, 1994
$52,225,000
Stratosphere Corp
Stupak,bob
Grant Deed
—
—
—
W2007 Stratosphere Propco
—
Loan Modification
related
—
—
—
W2007 Stratosphere Propco
—
Loan Modification
related
—
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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