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Property profile & analytics
OFF-MARKET
Estimated value
$9,260,000
Retail space
216 Decatur Blvd Las Vegas, NV 89107-2932
Entity Owned
2-yr Hold
Free & Clear
Property ID
US62-0810143
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1989
Construction
FRAME
Total area
21,450 SF
Lot
1.91 ac (83,200 SF)
APN
138-36-516-008
UPID
US62-0810143
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
-
Loya Insurance Company Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.26M
CAP Approach
CAP
$7.45M
Comparable Approach
Comparable
$11.18M
Blend (final)
Blend
$9.26M
Owner & transaction history
Millis Properties LLC · 2 yrs held
Millis Properties LLC
since 2024
Last sale
$9.3M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$13.6M
+69.2%
Auto repair, garage
$11.9M
+48.6%
Neighborhood: shopping center
$9.3M
+16.1%
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
$9,260,000
ML approach
$9,260,000
CAP Approach
CAP Return
Estimation
6%
$8,070,000
6.5%
$7,450,000
7%
$6,920,000
Alternative Use
Use
Estimation
RETAIL STORES
$8,020,000
Current use
COMMERCIAL (GENERAL)
$13,565,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$11,915,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$9,310,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$9.26M
Range $8.33M – $10.19M · ±10% · vs last sale $9.26M (Apr 18 2024)
Last sale anchor
$9.26M
Apr 18 2024
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
$432 / 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
$25,748
Tax year 2023
Assessed value
$904,026
Assessed 2024
Previous assessed
$904,026
+0.0% YoY
Effective rate
2.85%
On assessed value
Assessed land
$407,680
Assessed improvement
$496,346
Land market value
$1,164,800
Improvement market value
$1,418,131
Total market value
$2,582,931
Applied tax rate
213.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1989
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Total area
21,450 SF
Lot
1.91 ac (83,200 SF)
APN
138-36-516-008
UPID
US62-0810143
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
RETAIL STORES Current
Est. value
$8.0M
COMMERCIAL (GENERAL)
Est. value
$13.6M
AUTO REPAIR, GARAGE
Est. value
$11.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1989
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Lot
1.91 ac
Current owner
From public records · entity-resolved
Millis Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
819 HAPPY SPARROW AVE, HENDERSON, NV 89052-3942
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2024
—
Millis Properties LLC
Millis Properties LLC
Intrafamily Transfer
related
—
Aug 11, 2022
$9,260,000
Millis Properties LLC
Brixton Decatur LLC
Bargain And Sale Deed
$4,000,000 · First Savings Bank
Jan 31, 2018
—
Brixton Decatur LLC
—
Grant Deed
related
$3,500,000 · Umpqua Bk
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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