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Property profile & analytics
OFF-MARKET
Estimated value
$20,095,000
Hotels
275 Mesa Blvd Mesquite, NV 89027-3204
Trust Owned
10-yr Hold
Free & Clear
Property ID
US62-0472539
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
116,880 SF
Lot
35.63 ac (1,552,043 SF)
APN
001-09-601-003
UPID
US62-0472539
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
-
Mason Street Courtyard Restaurant
-
Town Square Buffet Restaurant Buffet
-
William Hill Sportsbook Hotel & Motel Resort
-
Tesla Supercharger Electric Vehicle Charging Station
-
Gregory's Mesquite Grill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$23.06M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$20.10M
Owner & transaction history
Lee,gregory T H 1999 Trust · 10 yrs held
Lee,gregory T H 1999 Trust
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 Mesquite submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mesquite 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$24,985,000
6.5%
$23,060,000
7%
$21,415,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$29,520,000
Current use
Blend value · Realmo final
$20.10M
Range $18.09M – $22.10M · ±10%
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
$172 / 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
$333,174
Tax year 2023
Assessed value
$13,047,160
Assessed 2024
Previous assessed
$12,095,535
+7.9% YoY
Effective rate
2.55%
On assessed value
Assessed land
$1,629,645
Assessed improvement
$11,417,515
Land market value
$4,656,129
Improvement market value
$32,621,471
Total market value
$37,277,600
Applied tax rate
902.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
4
Units
215
Total area
116,880 SF
Lot
35.63 ac (1,552,043 SF)
APN
001-09-601-003
UPID
US62-0472539
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
$29.5M
HOTEL/MOTEL Current
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
4
Buildings
2
Units
215
Lot
35.63 ac
Current owner
From public records · entity-resolved
Lee,gregory T H 1999 Trust
Trust
Free & Clear · 10 yrs held
Mailing address
3271 S HIGHLAND DR #704, LAS VEGAS, NV 89109-1093
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2023
—
Rancho Mesquite Casino INC
—
Deed
related
$40,000,000 · Bank Of America NA
Nov 23, 2021
—
Rmc Land LLC
—
Deed
related
$5,000,000 · Rancho Mesquite Casino INC
Nov 25, 2015
—
Lee,gregory T H 1999 Trust
Lee,gregory T H
Quit Claim Deed
related
—
Dec 20, 2011
$13,260,000
Gregory T H Lee
Lee Living Trust
Grant Deed
related
$13,260,000 · Lee Living Trust
Mar 26, 2007
—
Rancho Mesquite Casino LLC
Lee Living Trust
Grant Deed
$28,000,000 · Bank Of America
Jan 8, 2004
—
Lee Trust
Lee,theodore B & Doris S
Quit Claim Deed
related
—
—
—
Rancho Mesquite Casino INC
—
Deed Of Trust
related
$32,000 · Bank Of America
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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