Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    240 S Decatur Blvd Las Vegas, NV 89107

    • Strip malls
    • 35,309 SF
    • 4.60 lot acres
    For Lease
    View listing
    $1.35 SF/Yr
    Last Sale
    Apr 18, 2024
    $9,260,000
    Value Estimations
    $9,260,000
    Cap Rate Potential
    9.2%
    Strip malls
    Location Intelligence
    Property ID
    US62-0837643
    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.

    Current Use by Public Records

    • McDermott Funeral & Cremation Service / Social Service Agency
    • Compassionate Adult Day Health Care, LLC / Adult Day Care
    • Perfect Eyebrows / Hair Salon / Nail Salon

    Property Details for 240 S Decatur Blvd

    Year built
    1987
    Construction
    FRAME
    Lot size
    4.60 lot acres
    Property size
    35,309 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    138-36-516-007
    APU
    13836516007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,260,000
      ML approach
      $9,260,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $15,330,000
      Current use
      RETAIL STORES
      $13,200,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.208
    Latitude
    36.1714
    CBSA code
    29820
    CBSA name
    LAS VEGAS-PARADISE, NV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $56,244
    $666,250
    $1,317,845
    $1,984,095
    -
    $1,903,571
    $3,765,271
    $5,668,842

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

      950 Torrey Pnes Dr

      SHOPPING CENTER, STRIP CENTER • 0.25 Acres
      950 Torrey Pnes Dr, Las Vegas, NV 89107
      View Details
    • Value Estimation
      $8,210,000
      24,439 SF

      3838 Mdws Ln

      SHOPPING CENTER, STRIP CENTER • 24,439 SF
      3838 Mdws Ln, Las Vegas, NV 89107-3113
      View Details
    • Value Estimation by Request
      6,864 SF

      832 Rainbow Blvd

      SHOPPING CENTER, STRIP CENTER • 6,864 SF
      832 Rainbow Blvd, Las Vegas, NV 89107-1103
      View Details
    • Value Estimation by Request
      0.89 Acres

      5015 Alta Dr

      SHOPPING CENTER, STRIP CENTER • 0.89 Acres
      5015 Alta Dr, Las Vegas, NV 89107-3937
      View Details
    • Value Estimation
      $3,465,000
      16,384 SF

      633 Decatur Blvd

      SHOPPING CENTER, STRIP CENTER • 16,384 SF
      633 Decatur Blvd, Las Vegas, NV 89107-1911
      View Details
    • Value Estimation
      $1,125,000
      5,840 SF

      1000 Torrey Pnes Dr

      SHOPPING CENTER, STRIP CENTER • 5,840 SF
      1000 Torrey Pnes Dr, Las Vegas, NV 89107-3520
      View Details

    Similar Nearby for Sale

    • $530,000

      Residential Land in Southwest Las Vegas

      1.25 acres of residential land in a growing area.
      S Valley View Blvd, Las Vegas, NV 89107
      View Details
    • $535,000

      Las Vegas Fourplex Investment Opportunity

      Fourplex with strong rental potential near CSN and the Strip.
      6318 Casada Way, Las Vegas, NV 89107
      View Details
    • $1,100,000
      0.88 Acres

      Alta Drive Homesite Opportunity

      Expansive homesite near Downtown Las Vegas, Medical District, and the Strip.
      2715 Alta Dr, Las Vegas, NV 89107
      View Details
    • $599,000

      Turnkey Las Vegas Fourplex Investment

      Renovated fourplex near CSN College, fully occupied, no HOA.
      6340 Casada Way, Las Vegas, NV 89107
      View Details
    • $565,000

      Las Vegas Fourplex Investment Opportunity

      Fourplex with strong rental potential near CSN campus.
      6320 Casada Way, Las Vegas, NV 89107
      View Details
    • $535,000

      Las Vegas Fourplex Investment Opportunity

      Fourplex with strong rental potential near CSN and the Strip.
      6316 Casada Way, Las Vegas, NV 89107
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      132,626 SF

      4000 Meadows Ln

      Shopping malls • 132,626 SF
      4000 Meadows Ln, Las Vegas, NV 89107
      View Details
    • Contact for pricing
      5,200 SF

      Anchored Shopping Center Retail Space

      Retail space in a busy shopping center anchored by Albertson's.
      873-1035 S Rainbow Blvd, Las Vegas, NV 89107
      View Details
    • Contact for pricing
      17,065 SF

      Retail Space at Meadows Mall

      Anchor and retail pad opportunities in central Las Vegas mall.
      4000-4300 Meadows Ln, Las Vegas, NV 89107
      View Details
    • Contact for pricing
      4,712 SF

      Retail Center Near US-95 Freeway

      Retail space near US-95 Freeway and Meadows Mall.
      398 S Decatur Blvd, Las Vegas, NV 89107
      View Details
    • $2 SF/Yr
      1,526 SF

      Retail Center Near US-95

      84,425 SF retail center with high-profile tenants.
      202-222 S Decatur Blvd, Las Vegas, NV 89107
      View Details
    • $1.35 SF/Yr
      1,400 SF

      Retail Center Near US-95

      Retail center with high-profile tenants and future development potential.
      240 S Decatur Blvd, Las Vegas, NV 89107
      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.
    240 S Decatur Blvd
    Las Vegas, NV 89107
    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

    Google sign-in failed. Please try again or use another login method.