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    3245 E Patrick Ln Las Vegas, NV 89120
    Property profile & analytics

    3245 E Patrick Ln Las Vegas, NV 89120

    View on Map
    • Warehouses
    • 86,016 SF
    • 4.83 lot acres
    For Lease
    $1.05 SF/Yr
    View Listing →
    Industrial Warehouse Space Available For Lease
    $1.05 SF/Yr
    8,116 SF

    Industrial Warehouse Space Available

    8,116 SF warehouse space for rent in Las Vegas.

    3245 E Patrick Ln, Las Vegas, NV
    View Listing
    Property ID
    US62-0295044
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Soft Serve Parts Inc / Big Box & Wholesale Store
    • Sho-Link Inc / Business Service Center / Conference Center
    • Rasa Floors / General Contractor / Renovation Specialist
    • Jet Gasket & Seal Co / Metal Fabrication Plant / Industrial Manufacturer
    • AAA Radiator / Auto Repair Shop

    Property Details for 3245 E Patrick Ln

    Year built
    1990
    Construction
    CONCRETE
    Lot size
    4.83 lot acres
    Property size
    86,016 SF
    Property type
    Warehouses
    APN
    162-36-702-003
    APU
    16236702003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.105
    Latitude
    36.078
    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
    $43,701
    $736,383
    $1,034,500
    $1,770,883
    -
    $2,103,951
    $2,955,714
    $5,059,665

    Comparable in this City

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    • Value Estimation
      $4,160,000
      56,840 SF

      6380 Annie Oakley Dr

      MINI-WAREHOUSE, STORAGE • 56,840 SF
      6380 Annie Oakley Dr, Las Vegas, NV 89120-3903
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    • Value Estimation
      $2,020,000
      24,272 SF

      3065 Patrick Ln

      WAREHOUSE, STORAGE • 24,272 SF
      3065 Patrick Ln, Las Vegas, NV 89120-4931
      View Details
    • Value Estimation
      $1,120,000
      9,884 SF

      3280 Pepper Ln

      WAREHOUSE, STORAGE • 9,884 SF
      3280 Pepper Ln, Las Vegas, NV 89120-2743
      View Details
    • Value Estimation
      $795,000
      1.19 Acres

      3235 Pepper Ln

      WAREHOUSE, STORAGE • 1.19 Acres
      3235 Pepper Ln, Las Vegas, NV 89120-2715
      View Details
    • Value Estimation
      $2,105,000
      30,210 SF

      3220 Pepper Ln

      WAREHOUSE, STORAGE • 30,210 SF
      3220 Pepper Ln, Las Vegas, NV 89120-2743
      View Details

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      Freestanding Industrial Facility For Sale

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      Rare Live-Work Industrial Loft Warehouse

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    Similar Nearby for Lease

    • Contact for pricing

      Las Vegas Industrial Park Center

      Master-planned industrial park with flex, office, showroom, and warehouse space.
      3272 Pine St, Las Vegas, NV 89120
      View Details
    • $1.40 SF/Yr
      7,296 SF

      Industrial Space Near Airport

      Available industrial space with convenient access to major transportation.
      6340 S Sandhill Rd, Las Vegas, NV 89120
      View Details
    • $1.82 SF/Yr
      8,550 SF

      Office/Warehouse Space Near Las Vegas Strip

      8,550 SF office/warehouse available within 30 days near the Strip.
      6248 Annie Oakley Dr, Las Vegas, NV 89120
      View Details
    • Contact for pricing
      1,020 SF

      Functional Flex Space in Las Vegas

      Flex space with roll-up door near Harry Reid Airport.
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      Flex Space in Park 2000

      Flex space with offices, restroom, and warehouse in business park.
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    • $1.75 SF/Yr
      5,800 SF

      Industrial Warehouse with Gated Yard

      5800 SF industrial space with modern design and convenient access.
      3363 W Oquendo Rd, Las Vegas, NV 89120
      View Details
    View Listing
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    Las Vegas, NV 89120
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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.

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