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Property profile & analytics
OFF-MARKET
Estimated value
$4,495,000
Medical Office Space
2575 Lindell Rd Las Vegas, NV 89146-5409
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US62-0155837
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,041 SF
Lot
1.52 ac (66,211 SF)
APN
163-12-103-004
UPID
US62-0155837
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
Current use
Occupant on record · Public records
-
Don Havins, M.D. Ophthalmologist Eye Care Center
-
Dr. Gerald Brown Ophthalmologist
-
Dr. Weldon Havins Ophthalmologist
-
Isaac Singleton Physician
-
Hon-Vu Duong, M.D. Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.51M
CAP Approach
CAP
$3.07M
Comparable Approach
Comparable
$3.88M
Blend (final)
Blend
$4.50M
Owner & transaction history
Realty Income Us Core Plus 3 LP · 1 yrs held
Realty Income Us Core Plus 3 LP
since 2025
Last sale
$3.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.5M
+57.7%
Retail stores
$5.6M
+35.8%
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
$4,495,000
ML approach
$4,505,000
CAP Approach
CAP Return
Estimation
6%
$3,320,000
6.5%
$3,065,000
7%
$2,845,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,140,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,530,000
Change: +58% · Conversion: Difficult
RETAIL STORES
$5,625,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$4.50M
Range $4.05M – $4.94M · ±10% · vs last sale $3.89M (Dec 27 2021)
Last sale anchor
$3.89M
Dec 27 2021
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
$299 / 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
$19,331
Tax year 2023
Assessed value
$738,977
Assessed 2024
Previous assessed
$657,723
+12.4% YoY
Effective rate
2.62%
On assessed value
Assessed land
$396,273
Assessed improvement
$342,704
Land market value
$1,132,209
Improvement market value
$979,154
Total market value
$2,111,363
Applied tax rate
417.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
15,041 SF
Lot
1.52 ac (66,211 SF)
APN
163-12-103-004
UPID
US62-0155837
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
MEDICAL BUILDING Current
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.5M
RETAIL STORES
Est. value
$5.6M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
1.52 ac
Current owner
From public records · entity-resolved
Realty Income Us Core Plus 3 LP
Entity
Mailing address
11995 EL CAMINO REAL, SAN DIEGO, CA 92130-2539
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2025
—
Realty Income Us Core Plus 3 LP
Mdc Coastal 20 LLC
Bargain & Sale Deed
—
Dec 27, 2021
$3,892,580
Mdc Coastal 20 LLC
Rr Company Of America LLC
Special Warranty Deed
—
Aug 19, 2020
$1,800,000
Rr Company Of America LLC
Jason Michael Gerber
Bargain And Sale Deed
$2,135,460 · First Horizon Bank
Nov 6, 2019
—
Gerber Family Trust
Jason Gerber
Quit Claim Deed
related
—
Mar 6, 2018
—
Jason Gerber
—
Deed
related
$1,000,000 · Sivan Shemtov
Feb 15, 2018
$1,700,000
Jason Gerber
Westfield Eye Center
Deed In Lieu Of Foreclosure
—
Feb 3, 2012
$1,315,500
Westfield Eye Center Kenneth C
Westfield Leasing LLC
Grant Deed
related
$1,440,000 · Bank Of Nevada
May 11, 2000
$2,975,000
Westfield Leasing LLC
Shearing Rentals INC
Grant Deed
$1,662,570 · Bank Of America NA Trustee
—
—
Westfield Eye Ctr Kenneth C We
—
Deed Of Trust
related
$1,186,000 · Nevada State Development Corp
—
—
Westfield Leasing LLC
—
Deed Of Trust
related
$1,000,000 · New Ventures Capital Dev Co
—
—
Jason Gerber
—
Deed Of Trust
related
$1,000,000 · Sivan Shemtov
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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