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Property profile & analytics
FOR LEASE
Outlet malls
3055 E Tropicana Ave Las Vegas, NV 89121
Entity Owned
1-yr Hold
Free & Clear
Property ID
US62-1287858
For Lease
Contact for pricing
3055 E Tropicana Ave, Las Vegas, NV 89121
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
130,160 SF
Lot
53.27 ac (2,320,441 SF)
APN
162-25-510-001
UPID
US62-1287858
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
-
Velle da barber Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$72.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$80.94M
Blend (final)
Blend
$72.50M
Owner & transaction history
Tropicana Centre Lv LLC · 1 yrs held
Tropicana Centre Lv LLC
since 2024
Last sale
$72.5M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$93.8M
+92.8%
Commercial (general)
$82.3M
+69.2%
Auto repair, garage
$72.3M
+48.6%
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
$72,500,000
ML approach
$72,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$48,660,000
Current use
RESTAURANT
$93,805,000
Change: +93% · Conversion: Easy
COMMERCIAL (GENERAL)
$82,320,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$72,290,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$56,505,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$72.50M
Range $65.25M – $79.75M · ±10% · vs last sale $72.50M (Sep 11 2024)
Last sale anchor
$72.50M
Sep 11 2024
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
$557 / 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
$416,213
Tax year 2023
Assessed value
$17,862,309
Assessed 2024
Previous assessed
$15,110,660
+18.2% YoY
Effective rate
2.33%
On assessed value
Assessed land
$5,522,650
Assessed improvement
$12,339,659
Land market value
$15,779,000
Improvement market value
$35,256,169
Total market value
$51,035,169
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Lease
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Buildings
14
Stories
1
Total area
130,160 SF
Lot
53.27 ac (2,320,441 SF)
APN
162-25-510-001
UPID
US62-1287858
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
RETAIL STORES Current
Est. value
$48.7M
RESTAURANT
Est. value
$93.8M
COMMERCIAL (GENERAL)
Est. value
$82.3M
AUTO REPAIR, GARAGE
Est. value
$72.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$56.5M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Stories
1
Buildings
14
Lot
53.27 ac
Current owner
From public records · entity-resolved
Tropicana Centre Lv LLC
Entity
Free & Clear · 1 yrs held
Mailing address
151 BODMAN PL STE #201, RED BANK, NJ 07701-1064
Ownership since
2024
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
Sep 11, 2024
—
Tropicana Centre Lv LLC
Tropicana Centre Lv LLC
Intrafamily Transfer
related
—
Nov 2, 2022
$72,500,000
Tropicana Centre Lv LLC
Arilex Tropicana Associates LLC
Bargain And Sale Deed
$41,000,000 · Continental Casualty Company
Dec 6, 2013
$39,800,000
Arilex Tropicana Assocs LLC
Trident Real Estate Co INC
Grant Deed
$43,703,100 · American National Insurance Co
Jun 6, 2005
$45,000,000
Lake Mead Investments LLC
Tropicana Centre LLC
Grant Deed
—
Jun 6, 2005
$61,000,000
Tropec LLC
Lake Mead Investments LLC
Bargain And Sale Deed
$56,000,000 · Deutsche Banc Mortgage Capital LLC
—
—
Arilex Tropicana Assocs LLC
—
Loan Modification
related
$43,703,100 · Miscellaneous Ins Co
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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