Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$11,200,000
Strip malls
2225 Centennial Pkwy North Las Vegas, NV 89081-5625
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US62-1282390
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,764 SF
Lot
1.23 ac (53,579 SF)
APN
124-26-501-012
UPID
US62-1282390
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
-
ATI Physical Therapy Medical Clinic
-
Subway Take-out & Catering
-
Shadow Creek Marketplace Business Service Center Corporate Office
-
AT&T Store Mobile Phone Store Electronics & Wireless Store
-
Phase 1 Hoops Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.20M
Owner & transaction history
Shadow Creek Market LLC · 1 yrs held
Shadow Creek Market LLC
since 2024
Last sale
$11.2M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$12.5M
+136.9%
Warehouse, storage
$8.8M
+66.8%
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 North Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$11,200,000
ML approach
$11,200,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$12,515,000
Change: +137% · Conversion: Difficult
WAREHOUSE, STORAGE
$8,815,000
Change: +67% · Conversion: Difficult
Blend value · Realmo final
$11.20M
Range $10.08M – $12.32M · ±10% · vs last sale $11.20M (Oct 11 2024)
Last sale anchor
$11.20M
Oct 11 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
$952 / 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
$20,418
Tax year 2023
Assessed value
$631,352
Assessed 2024
Previous assessed
$608,593
+3.7% YoY
Effective rate
3.23%
On assessed value
Assessed land
$231,595
Assessed improvement
$399,757
Land market value
$661,700
Improvement market value
$1,142,163
Total market value
$1,803,863
Applied tax rate
254.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
11,764 SF
Lot
1.23 ac (53,579 SF)
APN
124-26-501-012
UPID
US62-1282390
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
RESTAURANT
Est. value
$12.5M
WAREHOUSE, STORAGE
Est. value
$8.8M
RESTAURANT
WAREHOUSE, STORAGE
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
1.23 ac
Current owner
From public records · entity-resolved
Shadow Creek Market LLC
Entity
Free & Clear · 1 yrs held
Mailing address
15643 E SHERMAN WAY STE #300, VAN NUYS, CA 91406-4177
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 11, 2024
$11,200,000
Shadow Creek Market LLC
Scm Investors LLC
Bargain And Sale Deed
—
Jun 11, 2019
—
Scm Investors LLC
Kierland Village Center LLC
Bargain And Sale Deed
$5,900,000 · Starwood Mortgage Capital LLC
Jun 30, 2017
—
Kierland Village Center LLC
—
Loan Modification
related
$7,900,000 · Midfirst Bk
Dec 16, 2016
—
Kierland Village Center LLC
—
Deed
related
—
Jun 28, 2013
$8,575,000
Kierland Village Center LLC
Av Nevada 2 LLC
Grant Deed
$6,550,000 · National Bank Arizona
Dec 16, 2010
—
Av Nevada 2 LLC
State Line LLC
Grant Deed
related
—
Sep 22, 2005
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Sep 2, 2005
$2,452,640
State Line LLC
A V Nevada 2 LLC
Grant Deed
—
—
—
Kierland Village Center LLC
—
Deed Of Trust
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2225 Centennial Pkwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
