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Property profile & analytics
OFF-MARKET
Estimated value
$5,635,000
Drug stores
2389 Windmill Ln Las Vegas, NV 89123-2037
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US62-0411000
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,821 SF
Lot
1.62 ac (70,567 SF)
APN
177-14-512-003
UPID
US62-0411000
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
Nichole Baker Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.32M
CAP Approach
CAP
$4.80M
Comparable Approach
Comparable
$6.17M
Blend (final)
Blend
$5.64M
Owner & transaction history
Preh Tf3 LLC · 5 yrs held
Preh Tf3 LLC
since 2021
Last sale
$5.2M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$8.7M
+69.2%
Auto repair, garage
$7.7M
+48.6%
Neighborhood: shopping center
$6.0M
+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
$6,045,000
ML approach
$6,315,000
CAP Approach
CAP Return
Estimation
6%
$5,200,000
6.5%
$4,800,000
7%
$4,455,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,165,000
Current use
COMMERCIAL (GENERAL)
$8,740,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,675,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,000,000
Change: +16% · Conversion: Moderate
OFFICE BUILDING
$4,185,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$5.64M
Range $5.07M – $6.20M · ±10% · vs last sale $5.24M (Mar 1 2021)
Last sale anchor
$5.24M
Mar 1 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
$408 / 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
$20,846
Tax year 2023
Assessed value
$1,161,683
Assessed 2024
Previous assessed
$1,013,990
+14.6% YoY
Effective rate
1.79%
On assessed value
Assessed land
$449,512
Assessed improvement
$712,171
Land market value
$1,284,320
Improvement market value
$2,034,774
Total market value
$3,319,094
Applied tax rate
470.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
13,821 SF
Lot
1.62 ac (70,567 SF)
APN
177-14-512-003
UPID
US62-0411000
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
$5.2M
COMMERCIAL (GENERAL)
Est. value
$8.7M
AUTO REPAIR, GARAGE
Est. value
$7.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
OFFICE BUILDING
Est. value
$4.2M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
1.62 ac
Current owner
From public records · entity-resolved
Preh Tf3 LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2021
—
Preh Tf3 LLC
—
Deed
related
$9,775,000 · Wells Fargo Bank NA
Mar 3, 2021
—
Preh Tf3 LLC
—
Deed
related
$9,775,000 · Wells Fargo Bank NA
Mar 1, 2021
$5,238,092
Preh Tf3 LLC
Walgreen Co
Bargain And Sale Deed
—
Jun 12, 1998
$4,137,500
Walgreen Co
C A P II
Grant 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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