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Property profile & analytics
OFF-MARKET
Estimated value
$2,200,000
Motels
2500 Fremont St Las Vegas, NV 89104-2204
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US62-1298644
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1954
Construction
FRAME
Total area
10,161 SF
Lot
0.65 ac (28,314 SF)
APN
162-01-111-006
UPID
US62-1298644
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.98M
Blend (final)
Blend
$2.20M
Owner & transaction history
Boulevard Motel Group LLC · 3 yrs held
Boulevard Motel Group LLC
since 2023
Last sale
$2.2M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.0M
+11.0%
Medical building
$2.8M
+3.2%
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
$2,390,000
ML approach
$2,230,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,710,000
Current use
INDUSTRIAL (GENERAL)
$3,010,000
Change: +11% · Conversion: Difficult
MEDICAL BUILDING
$2,795,000
Change: +3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,580,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.20M
Range $1.98M – $2.42M · ±10% · vs last sale $2.20M (Jul 19 2023)
Last sale anchor
$2.20M
Jul 19 2023
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
$217 / 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
$5,074
Tax year 2023
Assessed value
$213,584
Assessed 2024
Previous assessed
$176,608
+20.9% YoY
Effective rate
2.38%
On assessed value
Assessed land
$89,189
Assessed improvement
$124,395
Land market value
$254,826
Improvement market value
$355,414
Total market value
$610,240
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1954
Construction
FRAME
Heating
HEAT PUMP
Buildings
2
Stories
1
Units
32
Total area
10,161 SF
Lot
0.65 ac (28,314 SF)
APN
162-01-111-006
UPID
US62-1298644
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
HOTEL/MOTEL Current
Est. value
$2.7M
INDUSTRIAL (GENERAL)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.6M
HOTEL/MOTEL 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
1954
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Buildings
2
Units
32
Lot
0.65 ac
Current owner
From public records · entity-resolved
Boulevard Motel Group LLC
Entity
Mailing address
300 235TH 15TH ST W VANCOUVER XX
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2023
$2,200,000
Boulevard Motel Group LLC
Chalung Koo
Bargain And Sale Deed
$1,962,000 · Town & Country Bank
Nov 22, 2006
—
Tc Chatish 2006 Living Trust
Koo,tish
Grant Deed
related
—
Sep 12, 2006
—
Chatish T C 2006 Living Trust
Koo,tish
Grant Deed
related
—
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.
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