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Property profile & analytics
OFF-MARKET
Estimated value
$11,705,000
Retail space
3377 Las Vegas S Blvd Las Vegas, NV 89109-8910
Entity Owned
18-yr Hold
Free & Clear
Property ID
US62-0440346
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
45,696 SF
Lot
0.35 ac (15,246 SF)
APN
162-16-311-002
UPID
US62-0440346
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
-
Lladro USA Inc (Bike/Boat/Book/etc) Store
-
Emporio D' Gondola (Bike/Boat/Book/etc) Store
-
The Campanile Tower at The Venetian Hotel & Motel
-
Auntie Anne's Bakery (Bike/Boat/Book/etc) Store
-
Miner's Gems Fine Jewelry and Exotic Gems (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.87M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.71M
Owner & transaction history
Grand Canal Shops II LLC · 18 yrs held
Grand Canal Shops II LLC
since 2007
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,195,000
6.5%
$15,870,000
7%
$14,735,000
Alternative Use
Use
Estimation
RETAIL STORES
$17,085,000
Current use
OFFICE BUILDING
$13,840,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$11.71M
Range $10.53M – $12.88M · ±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
$256 / 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
$116,139
Tax year 2023
Assessed value
$4,400,248
Assessed 2024
Previous assessed
$4,018,757
+9.5% YoY
Effective rate
2.64%
On assessed value
Assessed land
$883,658
Assessed improvement
$3,516,590
Land market value
$2,524,737
Improvement market value
$10,047,400
Total market value
$12,572,137
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
3
Total area
45,696 SF
Lot
0.35 ac (15,246 SF)
APN
162-16-311-002
UPID
US62-0440346
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
$17.1M
OFFICE BUILDING
Est. value
$13.8M
RETAIL STORES Current
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
3
Lot
0.35 ac
Current owner
From public records · entity-resolved
Grand Canal Shops II LLC
Entity
Free & Clear · 18 yrs held
Mailing address
PO BOX 101042, CHICAGO, IL 60610-8900
Ownership since
2007
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
Dec 28, 2007
—
Grand Canal Shops II LLC
Grand Canal Shops II LLC
Quit Claim Deed
—
Jun 10, 2004
—
Grand Canal Shops II LLC
Venetian Casino Resort LLC
Quit Claim Deed
related
—
May 19, 2004
—
Grand Canal Shops II LLC
—
Deed Of Trust
related
$427,000,000 · Archon Financial LP
Dec 23, 1999
—
Canal Shops Mall Subsida Grand
—
Deed Of Trust
related
$35,000,000 · Sga Development INC
—
—
Grand Canal Shops II LLC
—
Deed Of Trust
related
$975,000,000 · Morgan Stanley Bk
—
—
Grand Canal Shops II LLC
—
Deed Of Trust
related
$625,000,000 · Goldman Sachs Comm'l Mtg Cap
—
—
Grand Canal Shops II LLC
—
Deed Of Trust
related
$625,000 · Goldman Sachs Comm'l Mtg Cap
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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