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    245 E Centennial Pkwy North Las Vegas, NV 89084
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    Property profile & analytics

    245 E Centennial Pkwy, North Las Vegas, NV 89084

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    • Commercial land
    Off-Market
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • JLF Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Philauty Boutique / Clothing Store
    • Centennial at 5th Apartments / Real Estate Agency
    • Ford Hebner / Business Management Consultant
    • Shop | ADOR.C / Department Store

    Property Details for 245 E Centennial Pkwy

    Year built
    2023
    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    A ±1.04-acre retail pad is now available for sale within a thriving North Las Vegas retail center at the northwest corner of Centennial Parkway and N. 5th Street. This highly visible site benefits from exceptional frontage and strong traffic volumes, with ±68,000 vehicles per day across the surrounding corridors, including the CC 215 Beltway, N. 5th Street, and Centennial Parkway. Positioned in a high-growth corridor, the site is surrounded by a robust mix of national retailers such as Circle K, Freddy’s Frozen Custard & Steakburgers, Valvoline, Einstein Bros. Bagels, Providence Dental, Navy Federal Credit Union, and WOW Car Wash, and sits adjacent to several new residential developments including Rome Pines Family Apartments (±240 units) and Rome Pines Senior Apartments (±292 units). Other nearby retailers include Target, Kohl’s, The Home Depot, Ross, Burlington, PetSmart, Michaels, Valley Health Systems, Burger King, Starbucks, and more.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.1373247
    Latitude
    36.275401

    Comparable in this City

    • Contact for pricing

      Land Near Future Development

      Land available near I-215 and upcoming commercial development.
      Swc 215 & Revere St, North Las Vegas, NV 89084
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      Retail Pad Opportunity Available

      Pad opportunity at Target anchored power center in North Las Vegas.
      7020 North 5Th St, North Las Vegas, NV 89084
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      1,400 SF

      Retail Space in North Las Vegas

      Retail space available in a neighborhood retail center.
      205 West Centennial Pkwy, North Las Vegas, NV 89084
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      4,509 SF

      Shopping Center Retail Space Available

      148,770 SF shopping center shadow-anchored by Walmart.
      6592 N Decatur Blvd, North Las Vegas, NV 89084
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    • $15 SF/Yr
      41,146 SF

      Deer Springs Town Center Retail

      Retail space available at Deer Springs Town Center.
      6980 North 5Th St, North Las Vegas, NV 89084
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      2,436 SF

      North Las Vegas Office Space

      Office space available for lease in North Las Vegas.
      2550 Nature Park Dr, North Las Vegas, NV 89084
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    Similar Nearby for Sale

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      Retail Property For Sale

      Retail property available for purchase in North Las Vegas.
      Sec Grand Teton Dr & Decatur Blvd, North Las Vegas, NV 89084
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      1,833 SF

      New McDonald's Drive-Thru Investment

      New McDonald's NNN lease in growing Las Vegas community.
      7940 N Decatur Blvd, North Las Vegas, NV 89084
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    Similar Nearby for Lease

    • Contact for pricing

      Land Near Future Development

      Land available near I-215 and upcoming commercial development.
      Swc 215 & Revere St, North Las Vegas, NV 89084
      View Details
    • Contact for pricing

      Retail Pad Opportunity Available

      Pad opportunity at Target anchored power center in North Las Vegas.
      7020 North 5Th St, North Las Vegas, NV 89084
      View Details
    • $15 SF/Yr
      41,146 SF

      Deer Springs Town Center Retail

      Retail space available at Deer Springs Town Center.
      6980 North 5Th St, North Las Vegas, NV 89084
      View Details
    • Contact for pricing

      Retail Space in Aliante Plaza

      Retail spaces available in a busy, anchored shopping center.
      I-215 Beltway & Aliante Pkwy N Las Vegas NV, North Las Vegas, NV 89084
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    • Contact for pricing
      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
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    • Contact for pricing

      Retail Property Near Tule Springs

      Retail property adjacent to The Village at Tule Springs.
      N 5Th St, North Las Vegas, NV 89084
      View Details
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    North Las Vegas, NV 89084
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    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
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