Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2038 Palm St Las Vegas, NV 89104-4830
    Back to Search
    Property profile & analytics

    2038 Palm St, Las Vegas, NV 89104-4830

    View on Map
    • Specialty properties
    • 8,679 SF
    • 20.39 lot acres
    Off-Market
    Property ID
    US62-0227718
    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.
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Krystalized Delights / Bakery / Specialty Food Shop
    • Riviera Mobile Home Community / Campground & RV Park
    • On The Road Diesel & Rv Mechanic LLC / Auto Repair Shop
    • R & G Mobile Car Wash / Car Wash
    • CARLITOS HANDYWORK LLC / Hardware & Home Improvement / General Contractor

    Property Details for 2038 Palm St

    Year built
    1962
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    20.39 lot acres
    Property type
    Specialty properties
    APN
    161-06-301-003
    APU
    16106301003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 18, 2024 — Drucilla D Sheppard — Deed · related $21k · Nevada Affordable Housing Asst Corp
    Jul 1, 2020 — Riviera Mhc LLC — Deed · related $16.4M · Wells Fargo Bk
    May 13, 2019 — Riviera Mhc LLC — Loan Modification · related $13.9M · Wells Fargo Bk
    Apr 5, 2018 — Riviera Mhc LLC — Loan Modification · related $13.4M · Wells Fargo Bk Nw NA
    Aug 21, 2017 — Riviera Mhc LLC — Grant Deed · related $13.4M · Wells Fargo Bk
    Sep 3, 2015 $14,000,000 Riviera Mhc LLC Riviera Mhp INC Grant Deed · related $11.9M · Keybank USA
    May 12, 2005 — Owner Name Unavailable Owner Name Unavailable Quit Claim Deed · related —
    — — Riviera Mhc LLC — Loan Modification · related $16.4M · Wells Fargo Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $490,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $563,000
      Market price range: $355k - $1.27M

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.099
    Latitude
    36.1492
    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
    $51,385
    $1,784,125
    $457,609
    $2,241,734
    -
    $5,097,500
    $1,307,454
    $6,404,954

    Comparable in this City

    • Value Estimation by Request
      3,198 SF

      1914 Sahara Ave

      VETERINARY, ANIMAL HOSPITAL
      1914 Sahara Ave, Las Vegas, NV 89104-3809
      View Details
    • Value Estimation by Request
      1,940 SF

      1515 Mojave Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS
      1515 Mojave Rd, Las Vegas, NV 89104-4520
      View Details
    • Value Estimation by Request
      6,180 SF

      3015 Fremont St

      PROFESSIONAL CLUBS/ASSOCIATIONS
      3015 Fremont St, Las Vegas, NV 89104-2205
      View Details
    • Value Estimation by Request
      870 SF

      Las Vegas, NV 89104

      PROFESSIONAL CLUBS/ASSOCIATIONS
      Las Vegas, NV 89104
      View Details
    • Value Estimation
      $725,000
      3,022 SF

      2255 Nellis Blvd

      VETERINARY, ANIMAL HOSPITAL
      2255 Nellis Blvd, Las Vegas, NV 89104-6233
      View Details
    • Value Estimation by Request
      4,397 SF

      3601 Wyoming Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS
      3601 Wyoming Ave, Las Vegas, NV 89104-4919
      View Details

    Similar Nearby for Sale

    • $3,400,000
      8,479 SF

      Fremont Street Entertainment Hub

      Las Vegas Event Center, Fully Remodeled
      3015 Fremont St, Las Vegas, NV 89104
      View Details
    • $1,250,000

      Land on Sahara Avenue

      Two parcels of land east of Las Vegas Boulevard.
      738 East Sahara Ave, Las Vegas, NV 89104
      View Details
    • Contact for pricing

      Commercial Land on Charleston Boulevard

      Commercial land available on East Charleston Boulevard.
      3400 E Charleston Blvd, Las Vegas, NV 89104
      View Details
    • Contact for pricing
      8,479 SF

      Las Vegas Nightclub Opportunity

      8,479 SF commercial building operating as a nightclub for sale.
      3015 E Fremont St, Las Vegas, NV 89104
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr

      Downtown Las Vegas Arts District Development

      Newly planned brewery campus and food hall in the Arts District.
      1505 S Casino Center Blvd, Las Vegas, NV 89104
      View Details
    • Contact for pricing

      Commercial Space Available For Rent

      Commercial space available for rent at 1015 E Charleston Blvd.
      1015 E Charleston Blvd, Las Vegas, NV 89104
      View Details
    • $18 SF/Yr
      6,000 SF

      Sahara Ave Medical Office Space

      6,000 SF Medical Office Suite in Las Vegas
      953 Sahara Ave, Las Vegas, NV 89104
      View Details
    • Contact for pricing

      Downtown Las Vegas Arts District Space

      Newly planned development in the Downtown Las Vegas Arts District.
      1701 South Las Vegas Blvd, Las Vegas, NV 89104
      View Details
    • Contact for pricing

      East Charleston Strip Mall Space

      Strip mall suites available on East Charleston Boulevard.
      3021 East Charleston Blvd, Las Vegas, NV 89104
      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.
    2038 Palm St
    Las Vegas, NV 89104-4830
    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

    Thank You for Inquiry
    2038 Palm St, Las Vegas, NV, 89104
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!