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

    2962 Ringe Ln Las Vegas, NV 89156-3526

    • Warehouses
    • 9,600 SF
    • 0.62 lot acres
    OFF-MARKET
    Last Sale
    Feb 09, 2024
    $2,700,000
    Value Estimations
    $2,700,000
    Show details
    Cap Rate Potential
    2.6%
    Warehouses
    Location Intelligence
    Property ID
    US62-1301475
    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

    • B & H Collision / Auto Repair Shop
    • wishlist design blog / Home Goods Store
    • Isabella's Towing Service / Towing Service

    Property Details for 2962 Ringe Ln

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    0.62 lot acres
    Property size
    9,600 SF
    Property type
    Warehouses
    APN
    140-16-201-009
    APU
    14016201009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,700,000
      ML approach
      $2,700,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,790,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $4,165,000
      Change: +133% Conversion: Moderate
      RETAIL STORES
      $3,590,000
      Change: +101% Conversion: Moderate
      OFFICE BUILDING
      $2,905,000
      Change: +62% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.059
    Latitude
    36.2139
    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
    $4,886
    $94,525
    $128,773
    $223,298
    -
    $270,071
    $367,923
    $637,994

    Comparable in this City

    • Value Estimation
      $115,000
      6,072 SF

      2959 Ringe Ln

      WAREHOUSE, STORAGE • 6,072 SF
      2959 Ringe Ln, Las Vegas, NV 89156-3527
      View Details
    • Value Estimation
      $180,000
      2.40 Acres

      2651 Bledsoe Ln

      WAREHOUSE, STORAGE • 2.40 Acres
      2651 Bledsoe Ln, Las Vegas, NV 89156
      View Details
    • Value Estimation
      $490,000
      3,200 SF

      5412 Tolentino Dr

      WAREHOUSE, STORAGE • 3,200 SF
      5412 Tolentino Dr, Las Vegas, NV 89156-4619
      View Details
    • Value Estimation by Request
      1,700 SF

      2929 Ringe Ln

      Distribution properties • 1,700 SF
      2929 Ringe Ln, Las Vegas, NV 89156
      View Details
    • Value Estimation
      $425,000
      52,756 SF

      6625 Lk Mead Blvd

      MINI-WAREHOUSE, STORAGE • 52,756 SF
      6625 Lk Mead Blvd, Las Vegas, NV 89156-7014
      View Details
    • Value Estimation
      $720,000
      105,302 SF

      7151 Lk Mead Blvd

      MINI-WAREHOUSE, STORAGE • 105,302 SF
      7151 Lk Mead Blvd, Las Vegas, NV 89156-1162
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,700 SF

      Las Vegas Industrial Property

      1,700 SF Manufacturing/Warehouse
      2929 Ringe Ln, Las Vegas, NV 89156
      View Details
    • $2,600,000
      7.00 Acres

      7 Acres Industrial Land, North Las Vegas

      Prime 7-acre industrial lot, excellent development potential.
      0 Cheyenne Ave & Shatz St, Nellis Air Force Base, NV 89156
      View Details
    • $273,500
      1,584 SF

      Single-Story Home with Covered Patios

      Four-bedroom home with upgrades, large lot, and no HOA.
      6266 Bluehurst Ave, Las Vegas, NV 89156
      View Details
    • $949,000

      Remodeled Fourplex with Strong CAP

      Fully remodeled, 100% occupied fourplex with rare 3-bedroom units.
      6928 Appleton Dr, Las Vegas, NV 89156
      View Details
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      East Las Vegas Fourplex Opportunity

      Value-add fourplex in East Las Vegas with income potential.
      2305 Exeter Dr, Las Vegas, NV 89156
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    • $1,199,000
      2.07 Acres

      Commercial Land For Sale

      2+ acre commercial land parcel in high-traffic area.
      2085 N Hollywood Blvd, Las Vegas, NV 89156
      View Details

    Similar Nearby for Lease

    • $1,145 /Mo

      Garden-Side Condo with Lush Views

      Charming condo with garden views, two bedrooms, and two bathrooms.
      2110 Los Feliz St, Las Vegas, NV 89156
      View Details
    • Contact for pricing
      1,235 SF

      Las Vegas Retail Space Available

      Retail space available for lease in Las Vegas, Nevada.
      6775-6885 E Lake Mead Blvd, Las Vegas, NV 89156
      View Details
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    Las Vegas, NV 89156-3526
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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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