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Property profile & analytics
OFF-MARKET
Estimated value
$2,865,000
Drug stores
2427 Las Vegas S Blvd Las Vegas, NV 89104-2530
Entity Owned
Absentee Owner
Free & Clear
Property ID
US62-0501264
Property summary
AI-generated overview
This exceptional retail opportunity boasts three available spaces ranging from 3,300 to 14,765 square feet, situated at 2427 S Las Vegas Blvd, Las Vegas, NV 89104. The property enjoys direct frontage on the iconic Las Vegas Strip, placing it within the vibrant Resort Corridor. This prime location offers unparalleled visibility and accessibility to a massive daily foot traffic of tourists and locals alike. The property is zoned C-2, providing flexibility for a variety of retail uses. Its convenient location provides easy access to Interstate 15, the Las Vegas Convention Center, and Downtown Las Vegas, further enhancing its appeal and accessibility. The property's APN is 162-04-817-001 in Clark County. This is a rare chance to establish a presence in one of the world's most sought-after retail destinations. The multiple tenancy option allows for diverse business opportunities or the potential for a single large tenant to occupy the entire space. Don't miss this opportunity to capitalize on the unparalleled exposure and high-traffic volume of the Las Vegas Strip.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2015
Construction
FRAME
Total area
12,689 SF
Lot
0.29 ac (12,689 SF)
APN
162-04-817-002
UPID
US62-0501264
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
-
COVID-19 Drive-thru Testing at Walgreens Medical Laboratory
-
Western Union Bank Credit Union
-
Coinhub Bitcoin ATM Teller Atm
-
LibertyX Bitcoin ATM Atm
-
Walgreens Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.23M
Blend (final)
Blend
$2.87M
Owner & transaction history
KB DIVERSIFIED HEALTHCARE 60 DST
KB DIVERSIFIED HEALTHCARE 60 DST
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.8M
+20.0%
Medical building
$3.5M
+11.5%
Commercial (general)
$3.2M
+2.8%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,130,000
Current use
INDUSTRIAL (GENERAL)
$3,755,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$3,490,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,220,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$2.87M
Range $2.58M – $3.15M · ±10%
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
$226 / 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
$25,916
Tax year 2023
Assessed value
$1,783,714
Assessed 2024
Previous assessed
$1,546,252
+15.4% YoY
Effective rate
1.45%
On assessed value
Assessed land
$333,113
Assessed improvement
$1,450,601
Land market value
$951,751
Improvement market value
$4,144,574
Total market value
$5,096,325
Applied tax rate
203.0000
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
2015
Construction
FRAME
Heating
YES
Stories
1
Total area
12,689 SF
Lot
0.29 ac (12,689 SF)
APN
162-04-817-002
UPID
US62-0501264
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
$3.1M
INDUSTRIAL (GENERAL)
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$3.2M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2015
Construction
FRAME
Heating
YES
Stories
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
KB DIVERSIFIED HEALTHCARE 60 DST
Individual
Free & Clear · 0 yrs held
Mailing address
1645 VLG CTR CIR STE #200, LAS VEGAS, NV 89134-6372
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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
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