Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    214 13Th St Las Vegas, NV 89101
    Back to Search
    Property profile & analytics

    214 13Th St Las Vegas, NV 89101

    View on Map
    • Commercial real estate
    Off-Market
    Property ID
    US62-1048190
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 214 13Th St

    Year built
    1952
    Property type
    Commercial real estate

    Description

    This four-unit apartment building, located at 214 N 13th Street in Las Vegas, Nevada, presents a compelling value-add investment opportunity. Built in 1952 and extensively renovated in 2020, the property boasts a garden-style, two-story design constructed of masonry and wood-frame. The building comprises four spacious two-bedroom, one-bathroom units, each offering ample living space. Situated on a 0.16-acre lot, the property provides residents with convenient parking. The asking price is $700,000, representing a price per unit of $175,000. The current Net Operating Income (NOI) is $32,000, yielding a 4.57% cap rate. However, a pro-forma NOI of $49,400 projects a significantly higher 7.06% cap rate, highlighting the property's substantial upside potential. Recent improvements include exterior painting (three years ago), a new roof (three years ago), and complete renovations to all four units (three years ago). Its central downtown location offers unparalleled access to the Fremont Street Experience, Container Park, the Arts District, and Premium Outlets, placing it within walking distance of a vibrant array of shopping, dining, and entertainment options. The Downtown Las Vegas submarket has experienced remarkable growth over the past decade and remains a highly sought-after area for investors. This property offers a rare blend of strong current performance and significant future growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.1300069
    Latitude
    36.1668119

    Comparable in this City

    • $425,000
      1,126 SF

      Las Vegas High-Rise Loft Living

      Rare loft with built-out primary bedroom and downtown views.
      353 E Bonneville Ave, Las Vegas, NV 89101
      View Details
    • Contact for pricing

      Renovated Downtown Las Vegas Apartments

      Fully renovated 10-unit apartment building in Downtown Las Vegas.
      1101 E Clark Ave, Las Vegas, NV 89101
      View Details
    • Contact for pricing
      59,392 SF

      Downtown Las Vegas Hotel Opportunity

      Hotel with annex parcels in downtown Las Vegas Opportunity Zone.
      129 N 8Th St, Las Vegas, NV 89101
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      59,392 SF

      Downtown Las Vegas Hotel Opportunity

      Hotel with annex parcels in downtown Las Vegas Opportunity Zone.
      129 N 8Th St, Las Vegas, NV 89101
      View Details
    • $425,000
      1,126 SF

      Las Vegas High-Rise Loft Living

      Rare loft with built-out primary bedroom and downtown views.
      353 E Bonneville Ave, Las Vegas, NV 89101
      View Details
    • Contact for pricing

      Renovated Downtown Las Vegas Apartments

      Fully renovated 10-unit apartment building in Downtown Las Vegas.
      1101 E Clark Ave, Las Vegas, NV 89101
      View Details
    • $250,000
      0.14 Acres

      Las Vegas Land Parcel Opportunity

      Land parcel suitable for residential or multi-family development near the Strip.
      362 N 13Th St, Las Vegas, NV 89101
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Las Vegas Office Building

      Two-story office building in Downtown Las Vegas near courts.
      324 S 3Rd St, Las Vegas, NV 89101
      View Details
    • Contact for pricing
      1,864 SF

      Office Space Available For Rent

      1864 square feet office space available for lease.
      818 Stewart Ave, Las Vegas, NV 89101
      View Details
    • Contact for pricing
      1,258 SF

      Office Space Available For Rent

      1770 square feet of office space for rent.
      4040 S Eastern Ave, Las Vegas, NV 89101
      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.
    214 13Th St
    Las Vegas, NV 89101
    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
    214 13Th St, Las Vegas, NV, 89101
    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!