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    Property profile & analytics

    2465 Nellis Blvd Las Vegas, NV 89115-4512

    • Outlet malls
    • 138,927 SF
    • 12.08 lot acres
    OFF-MARKET
    Value Estimations
    $13,090,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0369389
    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

    • Lowe's Garden Center / Garden Center
    • Lowe's Home Improvement / Building Supply / Hardware & Home Improvement
    • Lowe's ProServices / Building Supply / Industrial Manufacturer
    • KeyExpress Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store
    • Minute Key / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 2465 Nellis Blvd

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.08 lot acres
    Property size
    138,927 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    140-17-810-003
    APU
    14017810003

    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
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.065
    Latitude
    36.2045
    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
    $90,947
    $1,722,006
    $1,493,652
    $3,215,658
    -
    $4,920,017
    $4,267,577
    $9,187,594

    Comparable in this City

    • Value Estimation
      $23,855,000
      168,224 SF

      Las Vegas, NV 89115

      WHOLESALE OUTLET, DISCOUNT STORE • 168,224 SF
      Las Vegas, NV 89115
      View Details
    • Value Estimation
      $1,115,000
      11,008 SF

      4438 Lk Mead Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 11,008 SF
      4438 Lk Mead Blvd, Las Vegas, NV 89115-6580
      View Details
    • Value Estimation
      $2,610,000
      19,344 SF

      4884 Lk Mead Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 19,344 SF
      4884 Lk Mead Blvd, Las Vegas, NV 89115-6701
      View Details
    • Value Estimation
      $1,620,000
      12,217 SF

      3325 Las Vegas N Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 12,217 SF
      3325 Las Vegas N Blvd, Las Vegas, NV 89115-0531
      View Details
    • Value Estimation by Request
      3,300 SF

      4369 Las Vegas N Blvd

      SHOPPING CENTER, STRIP CENTER • 3,300 SF
      4369 Las Vegas N Blvd, Las Vegas, NV 89115-0527
      View Details
    • Value Estimation
      $595,000
      4,232 SF

      1600 Nellis Blvd

      SHOPPING CENTER, STRIP CENTER • 4,232 SF
      1600 Nellis Blvd, Las Vegas, NV 89115-3650
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      7-Eleven Anchored Retail Center

      Retail center anchored by 7-Eleven with ample parking.
      3112 N Las Vegas Blvd, Las Vegas, NV 89115
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      17,500 SF

      Las Vegas Industrial Investment Opportunity

      17,500 SF industrial building with stable, management-free income.
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    • $925,000

      Turnkey Auto Shop with Lifts

      Auto shop with two bays and lifts included in sale.
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    • $925,000

      Turnkey Auto Shop with Lifts

      Auto shop with two bays and lifts included in sale.
      4300 North Pecos Rd, Las Vegas, NV 89115
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    • Contact for pricing
      6,500 SF

      Retail Space Near I-15

      Retail space available near I-15 and Tropical Parkway.
      5306 El Campo Grande Ave, Las Vegas, NV 89115
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    • $5,500,000

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      High-visibility commercial real estate investment opportunity in Las Vegas.
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    Similar Nearby for Lease

    • $1.50 SF/Yr
      815 SF

      Retail Space in Anchored Center

      Retail space available in 7-Eleven anchored shopping center.
      3104-3130 N Las Vegas Blvd, Las Vegas, NV 89115
      View Details
    • $1.10 SF/Yr

      Retail Center with Anchor Space

      Retail center with high visibility and diverse tenant mix.
      3250-3280 Las Vegas Blvd N, Las Vegas, NV 89115
      View Details
    • Contact for pricing

      Retail Center on Pecos Road

      Retail shopping center with high visibility and convenient access.
      3523 N Pecos Rd, Las Vegas, NV 89115
      View Details
    • $22,000

      North Las Vegas Automotive Facility

      Automotive facility with office space and multiple service bays.
      3045 N Lamb Blvd, North Las Vegas, NV 89115
      View Details
    • Contact for pricing

      Retail Strip Center Near Nellis

      Retail spaces for lease near Nellis Air Force Base.
      4375 Las Vegas Blvd N, Las Vegas, NV 89115
      View Details
    • Contact for pricing

      Westland Center: Office and Warehouse

      Office, warehouse, and retail spaces in North Las Vegas.
      4339 C Corporate Ctr Dr, Las Vegas, NV 89115
      View Details
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    2465 Nellis Blvd
    Las Vegas, NV 89115-4512
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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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