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Property profile & analytics
OFF-MARKET
Estimated value
$26,815,000
Theaters & concert halls
2321 Rainbow Blvd Las Vegas, NV 89108-7028
Entity Owned
4-yr Hold
Free & Clear
Property ID
US62-0539030
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
40,138 SF
Lot
3.44 ac (149,846 SF)
APN
138-22-514-002
UPID
US62-0539030
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
-
AMC Rainbow Promenade 10 Cinema Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$26.82M
Owner & transaction history
Rainbow Promenade Nv LLC · 4 yrs held
Rainbow Promenade Nv LLC
since 2021
Last sale
$25.5M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$29,440,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$26.82M
Range $24.13M – $29.50M · ±10% · vs last sale $25.50M (Aug 5 2021)
Last sale anchor
$25.50M
Aug 5 2021
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
$668 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$54,358
Tax year 2021
Assessed value
$1,658,086
Assessed 2021
Previous assessed
$1,658,086
+0.0% YoY
Effective rate
3.28%
On assessed value
Assessed land
$537,573
Assessed improvement
$1,120,513
Land market value
$1,535,923
Improvement market value
$3,201,466
Total market value
$4,737,389
Applied tax rate
200.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
40,138 SF
Lot
3.44 ac (149,846 SF)
APN
138-22-514-002
UPID
US62-0539030
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
Building & site characteristics
From public records
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
3.44 ac
Current owner
From public records · entity-resolved
Rainbow Promenade Nv LLC
Entity
Free & Clear · 4 yrs held
Mailing address
130 W 42ND ST, NEW YORK, NY 10036-7902
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2021
—
Rainbow Promenade Nv LLC
Rainbow Promenade Nv LLC
Intrafamily Transfer
related
—
May 13, 2021
$25,500,000
8454 Steller Drive LLC
Rainbow Promenade Nv LLC
Bargain And Sale Deed
—
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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