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Property profile & analytics
OFF-MARKET
Estimated value
$1,855,000
Commercial real estate
252 Tropicana Ave Las Vegas, NV 89169
Entity Owned
10-yr Hold
Free & Clear
Property ID
US62-0235367
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1950
Construction
CONCRETE
Total area
952 SF
Lot
11.23 ac (489,179 SF)
APN
162-21-802-002
UPID
US62-0235367
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.86M
Owner & transaction history
Board Of Regents Of The Nv System Redus Alk LLC · 10 yrs held
Board Of Regents Of The Nv System Redus Alk LLC
since 2015
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$1,949 / 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
Assessed value
$7,194,884
Assessed 2024
Previous assessed
$6,834,868
+5.3% YoY
Assessed land
$7,190,931
Assessed improvement
$3,953
Land market value
$20,545,517
Improvement market value
$11,294
Total market value
$20,556,811
Applied tax rate
470.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1950
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
952 SF
Lot
11.23 ac (489,179 SF)
APN
162-21-802-002
UPID
US62-0235367
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
Building & site characteristics
From public records
Year built
1950
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
11.23 ac
Current owner
From public records · entity-resolved
Board Of Regents Of The Nv System Redus Alk LLC
Entity
Free & Clear · 10 yrs held
Mailing address
4505 S MARYLAND PKWY #451027, LAS VEGAS, NV 89154-9900
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 24, 2015
—
Board Of Regents Of The Nv System Redus Alk LLC
Redus Alk LLC
Quit Claim Deed
related
—
Dec 24, 2015
$50,000,000
Board Of Regents Of The Nv System
Redus Alk LLC
Grant Deed
—
Oct 18, 2010
$20,000,000
Redus Alk LLC
Stewart Title Of Nv Holdings
Trustees Deed
—
May 18, 2005
—
Peter B Liao
Liao,yvonne K
Quit Claim Deed
related
—
May 18, 2005
$120,000,000
Alkimya Investment LLC
West Park INC
Bargain And Sale Deed
$80,000,000 · Wachovia Bank NA
May 18, 2005
$2,423,631
Su Lisa Trust
Liao,peter B
Grant Deed
—
Feb 29, 2000
—
West Park INC
—
Deed Of Trust
related
$5,150,000 · Collateral Mortgage Ltd
Oct 6, 1992
$3,950,000
Peter B Liao
Unknown
Grant Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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