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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    251 Nellis Blvd Las Vegas, NV 89110-5321

    • Grocery and convenience stores
    • 3,533 SF
    • 0.76 lot acres
    OFF-MARKET
    Value Estimations
    $355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-1179513
    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

    • Shell / Convenience Store / Atm
    • Icon Nails Spa / Nail Salon
    • BetterShield Roof Repair Las Vegas / Roofing Contractor
    • Green Valley Grocery / Convenience Store
    • ATM / Atm

    Property Details for 251 Nellis Blvd

    Year built
    1996
    Construction
    FRAME
    Lot size
    0.76 lot acres
    Property size
    3,533 SF
    Property type
    Grocery and convenience stores
    APN
    140-32-701-005
    APU
    14032701005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $360,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $352,000
      Market price range: $352k - $538k

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.063
    Latitude
    36.1661
    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
    $10,617
    $185,394
    $209,405
    $394,799
    -
    $529,697
    $598,300
    $1,127,997

    Comparable in this City

    • Value Estimation
      $295,000
      2,928 SF

      3520 Owens Ave

      CONVENIENCE STORE • 2,928 SF
      3520 Owens Ave, Las Vegas, NV 89110-1052
      View Details
    • Value Estimation by Request
      72,204 SF

      450 Nellis Blvd

      GROCERY, SUPERMARKET • 72,204 SF
      450 Nellis Blvd, Las Vegas, NV 89110-5304
      View Details
    • Value Estimation
      $290,000
      2,920 SF

      4380 Bonanza Rd

      CONVENIENCE STORE • 2,920 SF
      4380 Bonanza Rd, Las Vegas, NV 89110-2202
      View Details
    • Value Estimation
      $265,000
      2,400 SF

      875 Lamb Blvd

      CONVENIENCE STORE • 2,400 SF
      875 Lamb Blvd, Las Vegas, NV 89110-2303
      View Details
    • Value Estimation
      $290,000
      3,108 SF

      1594 Nellis Blvd

      CONVENIENCE STORE • 3,108 SF
      1594 Nellis Blvd, Las Vegas, NV 89110-5316
      View Details
    • Value Estimation
      $835,000
      69,791 SF

      4421 Bonanza Rd

      GROCERY, SUPERMARKET • 69,791 SF
      4421 Bonanza Rd, Las Vegas, NV 89110-6342
      View Details

    Similar Nearby for Sale

    • $950,000
      0.90 Acres

      Charleston Blvd Commercial Land

      Prime Las Vegas land, R-3 zoning. Owner financing available.
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      Prime Lot in Las Vegas

      Vacant lot near freeways, shopping, and dining in Las Vegas.
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    • $500,000

      Van Buren Avenue Land Parcel

      Two contiguous lots totaling approximately 1.69 acres on Van Buren.
      5018-5038 E Van Buren Ave, Las Vegas, NV 89110
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    • $640,000

      East Las Vegas Fourplex

      Well-maintained fourplex in East Las Vegas with strong cash flow.
      917 Snug Harbor St, Las Vegas, NV 89110
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    • $640,000

      East Las Vegas Investment Opportunity

      Four-unit property in high-demand East Las Vegas submarket.
      4244 Middlesex Ave, Las Vegas, NV 89110
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    • $3,800,000

      Las Vegas Land For Sale

      Land available for sale in Las Vegas, Nevada.
      3829 N Nellis Blvd, Las Vegas, NV 89110
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      38,862 SF

      Sunrise Mountain Plaza Retail Space

      Las Vegas Retail Center - Multiple Spaces Available
      0 Swc Bonanza & Nellis, Las Vegas, NV 89110
      View Details
    • $1.00 SF/Yr
      1,100 SF

      Retail Space on Nellis Boulevard

      Retail space available for rent on Nellis Boulevard.
      871 N Nellis Blvd, Las Vegas, NV 89110
      View Details
    • Contact for pricing
      1,500 SF

      Anchored Shopping Center Retail Space

      Retail spaces available in well-maintained, Smith’s anchored shopping center.
      400 N Nellis Blvd, Las Vegas, NV 89110
      View Details
    • Contact for pricing
      3,107 SF

      Retail Space in Walmart Center

      Retail space available within a busy Walmart shopping center.
      15-171 N Nellis Blvd, Las Vegas, NV 89110
      View Details
    • $1.50 SF/Yr
      17,000 SF

      Modern Retail Center with Parking

      Retail spaces available in a modern, clean center with ample parking.
      4250 E Bonanza Rd, Las Vegas, NV 89110
      View Details
    • $1.25 SF/Yr
      1,100 SF

      Retail Space on Nellis Boulevard

      Retail spaces available in busy Las Vegas corridor.
      861 N Nellis Blvd, Las Vegas, NV 89110
      View Details
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    251 Nellis Blvd
    Las Vegas, NV 89110-5321
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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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