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

    245 Centennial Pkwy North Las Vegas, NV 89084

    • Retail space
    • 1.04 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0267742
    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

    • JLF Photography / Photography Service
    • Philauty Boutique / Clothing Store
    • Centennial at 5th Apartments / Condominium Complex / Apartment Rental Agency
    • Ford Hebner / Business Management Consultant
    • Shop | ADOR.C / Store

    Property Details for 245 Centennial Pkwy

    Year built
    2023
    Lot size
    1.04 lot acres
    Property type
    Retail space

    Description

    This exceptional retail opportunity presents two distinct options for discerning investors or businesses. First, a ±1.04-acre retail pad is available, offering build-to-suit (BTS) or ground lease potential, and includes drive-thru capability. Secondly, there are ±1,428 to ±3,628 square feet of shop space available in an endcap location with drive-thru access. Both options benefit from a dynamic co-tenancy including Circle K, Valvoline, Freddy's Steakburgers, Chick-fil-A, Salad and Go, Providence Dental, and WOW Carwash. The property boasts an excellent location at the Northwest corner of Centennial and 5th Street, with exceptional visibility and high traffic counts of approximately 60,800 vehicles per day. The area is experiencing significant infill growth, with over 13,000 homes planned or currently under construction, ensuring a robust and expanding customer base. The property features two single-story buildings constructed in 2023, and is zoned General Commercial (C-2). Parcel numbers are 124-22-801-025, 124-22-801-028, and 124-22-801-026. Nearby national retailers include Valley Health Systems, Burger King, Starbucks, Target, McDonald's, Kohl's, The Home Depot, and Ross, further solidifying the area's strong retail environment. This is a rare opportunity to establish a presence in a thriving, high-growth location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.13507726592
    Latitude
    36.276375991327

    Comparable in this City

    • $15 SF/Yr
      35,932 SF

      North Las Vegas Retail Space

      35,932 SF retail space with signage on 215 Beltway.
      7090-7120 N 5Th St, North Las Vegas, NV 89084
      View Details
    • Contact for pricing
      17,400 SF

      Retail Property Near Tule Springs

      Retail property adjacent to The Village at Tule Springs.
      N 5Th St, North Las Vegas, NV 89084
      View Details
    • Contact for pricing
      17,400 SF

      Retail Space Near Tule Springs

      Retail property near new construction and major national tenants.
      N 5Th St, North Las Vegas, NV 89084
      View Details
    • $27 SF/Yr
      2,411 SF

      Aliante Plaza Retail Space

      Grocery-anchored retail in North Las Vegas
      I-215 Beltway & Aliante Pkwy, North Las Vegas, NV 89084
      View Details
    • $42 SF/Yr
      16,689 SF

      Aliante Pkwy Retail Center

      Prime North Las Vegas Retail Space
      7325 Aliante Pkwy, North Las Vegas, NV 89084
      View Details
    • Contact for pricing
      6,000 SF

      Retail Pad Available For Lease

      Retail property available for lease, ranging from 1,200-6,000 SF.
      340 E Deer Springs Way, North Las Vegas, NV 89084
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      35,932 SF

      North Las Vegas Retail Space

      35,932 SF retail space with signage on 215 Beltway.
      7090-7120 N 5Th St, North Las Vegas, NV 89084
      View Details
    • Contact for pricing
      17,400 SF

      Retail Property Near Tule Springs

      Retail property adjacent to The Village at Tule Springs.
      N 5Th St, North Las Vegas, NV 89084
      View Details
    • Contact for pricing
      17,400 SF

      Retail Space Near Tule Springs

      Retail property near new construction and major national tenants.
      N 5Th St, North Las Vegas, NV 89084
      View Details
    • $27 SF/Yr
      2,411 SF

      Aliante Plaza Retail Space

      Grocery-anchored retail in North Las Vegas
      I-215 Beltway & Aliante Pkwy, North Las Vegas, NV 89084
      View Details
    • $42 SF/Yr
      16,689 SF

      Aliante Pkwy Retail Center

      Prime North Las Vegas Retail Space
      7325 Aliante Pkwy, North Las Vegas, NV 89084
      View Details
    • Contact for pricing
      150,448 SF

      Deer Springs Crossing Retail Center

      Kohl's-anchored, prime retail space.
      6650 5Th St, North Las Vegas, NV 89084
      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.
    245 Centennial Pkwy
    North Las Vegas, NV 89084
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.