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Property profile & analytics
OFF-MARKET
Estimated value
$4,230,000
Medical Office Space
2882 Maryland Pkwy Las Vegas, NV 89109-1502
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US62-0194495
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,370 SF
Lot
2.14 ac (93,218 SF)
APN
162-11-201-011
UPID
US62-0194495
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
-
BioLife Plasma Center Hospital
-
BioLife Plasma Services Medical Clinic
-
Olukunle Alabi Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.74M
CAP Approach
CAP
$3.14M
Comparable Approach
Comparable
$4.63M
Blend (final)
Blend
$4.23M
Owner & transaction history
Exchangeright Essential Income · 5 yrs held
Exchangeright Essential Income
since 2020
Last sale
$4.1M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.7M
+57.7%
Retail stores
$5.7M
+35.8%
Office building
$4.7M
+10.0%
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
$4,690,000
ML approach
$4,740,000
CAP Approach
CAP Return
Estimation
6%
$3,395,000
6.5%
$3,135,000
7%
$2,910,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,230,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,670,000
Change: +58% · Conversion: Difficult
RETAIL STORES
$5,745,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$4,655,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$4.23M
Range $3.81M – $4.65M · ±10% · vs last sale $4.10M (Dec 30 2020)
Last sale anchor
$4.10M
Dec 30 2020
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
$275 / 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
$28,943
Tax year 2023
Assessed value
$1,091,796
Assessed 2024
Previous assessed
$989,681
+10.3% YoY
Effective rate
2.65%
On assessed value
Assessed land
$352,364
Assessed improvement
$739,432
Land market value
$1,006,754
Improvement market value
$2,112,663
Total market value
$3,119,417
Applied tax rate
410.0000
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Stories
1
Total area
15,370 SF
Lot
2.14 ac (93,218 SF)
APN
162-11-201-011
UPID
US62-0194495
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
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
RETAIL STORES
Est. value
$5.7M
OFFICE BUILDING
Est. value
$4.7M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Stories
1
Lot
2.14 ac
Current owner
From public records · entity-resolved
Exchangeright Essential Income
Individual
Mailing address
PO BOX 60308, PASADENA, CA 91116-6308
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2020
$1,969,880
Exchangeright Essential Income
Grd Maryland Living LLC
Grant Deed
related
$37,564,000 · Wells Fargo Bk
Jun 12, 2020
$4,100,000
Grd Maryland Lv LLC
Ms Holding LP
Special Warranty Deed
$8,245,000 · West Bank
Jun 12, 2020
—
Ms Holdings LP
Wags Equity Partners LLC
Special Warranty Deed
—
Aug 23, 2006
—
Cornerstone II LLC
Cornerstone Leased Drug Stores LLC
Quit Claim Deed
related
$50,311,000 · Bear Stearns Commercial Mortgage In
Feb 5, 2002
$5,093,480
Cornerstone Leased Drug Stores
Walgreen Co
Grant Deed
$5,041,800 · Wells Fargo Bank Northwest NA
Feb 16, 1999
$5,203,120
Walgreen Co
Cap V Development LLC
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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