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Property profile & analytics
OFF-MARKET
Estimated value
$5,750,000
Motels
2112 Nellis Blvd Las Vegas, NV 89115-5507
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0210053
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,930 SF
Lot
2.35 ac (102,366 SF)
APN
140-21-201-005
UPID
US62-0210053
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
-
Nellis Studios Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.61M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.08M
Blend (final)
Blend
$5.75M
Owner & transaction history
Mc3 Nellis Studios LLC · 4 yrs held
Mc3 Nellis Studios LLC
since 2022
Last sale
$5.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$9.1M
+62.8%
Retail stores
$7.8M
+40.2%
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
$5,695,000
ML approach
$5,605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$5,580,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$9,085,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$7,825,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$5.75M
Range $5.18M – $6.33M · ±10% · vs last sale $5.85M (Jul 21 2022)
Last sale anchor
$5.85M
Jul 21 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
$275 / 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
$10,429
Tax year 2023
Assessed value
$559,009
Assessed 2024
Previous assessed
$507,287
+10.2% YoY
Effective rate
1.87%
On assessed value
Assessed land
$313,496
Assessed improvement
$245,513
Land market value
$895,703
Improvement market value
$701,466
Total market value
$1,597,169
Applied tax rate
340.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Units
64
Total area
20,930 SF
Lot
2.35 ac (102,366 SF)
APN
140-21-201-005
UPID
US62-0210053
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
HOTEL/MOTEL Current
Est. value
$5.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.1M
RETAIL STORES
Est. value
$7.8M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
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
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Units
64
Lot
2.35 ac
Current owner
From public records · entity-resolved
Mc3 Nellis Studios LLC
Entity
Mailing address
3312 W CHARLESTON BLVD, LAS VEGAS, NV 89102-1829
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 21, 2022
$5,850,000
Mc3 Nellis Studios LLC
Douglas Dasilva
Bargain And Sale Deed
$4,387,500 · First Savers Bank
Feb 8, 2019
—
Sackley Family Trust
—
Deed
related
$500,000 · First Choice Bk
Dec 27, 2018
—
Sackley Family Trust
Sackley Family Trust
Quit Claim Deed
related
—
Sep 7, 2018
$1,700,000
Sackley Family Trust
Cjp Productions INC
Grant Deed
—
Nov 21, 2017
—
Cjp Productions INC
—
Deed
related
$385,000 · Rds 1991 Trust (ct)
Jun 3, 2002
$1,400,000
Cjp Productions INC
Choi,jai I & Hye S
Grant Deed
$900,000 · Jai I & Hye S Choi
—
—
Cjp Productions INC
—
Deed Of Trust
related
$828,750 · Nevada State Bank
—
—
Sackley Family Trust
—
Deed Of Trust
related
$500,000 · First Choice Bk
—
—
Cjp Productions INC
—
Deed Of Trust
related
$115,000 · Christopher M Peterson
—
—
Cjp Productions INC
—
Deed Of Trust
related
$385,000 · Rds 1991 Trust (ct)
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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