Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3685 Russell Rd Las Vegas, NV 89118-2424

    • Manufacturing properties
    • 1.06 lot acres
    OFF-MARKET
    Last Sale
    Mar 29, 2024
    $6,550,000
    Value Estimations
    $6,550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0353832
    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

    • Manufacturing properties

    Property Details for 3685 Russell Rd

    Year built
    1978
    Lot size
    1.06 lot acres
    Property type
    Manufacturing properties
    APN
    162-32-101-003
    APU
    16232101003

    Description

    This ±1.06-acre industrial land parcel presents a unique opportunity in Las Vegas's vibrant Southwest Submarket. Ideally situated just minutes from Allegiant Stadium, the Las Vegas Strip, and Interstate 15, this property offers unparalleled accessibility and visibility. Zoned I-L, it's suitable for a variety of light industrial uses, catering to businesses seeking a strategic location for growth and expansion. The site boasts a secure, fenced yard, providing peace of mind and enhanced security. The asking rent is $10,000 per month. Note that an additional ±1.06 acres and a ±23,000 square foot building are available for lease at an additional cost, presenting an opportunity to expand your operations significantly. The property's Clark County APN is 162-32-101-003. This single-tenant property is perfect for businesses seeking a secure and well-located industrial space in a thriving area of Las Vegas. Contact the listing agent for further details and to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,550,000
      ML approach
      $6,550,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.189
    Latitude
    36.0858
    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
    $3,978
    $261,807
    $0.00
    $261,807
    -
    $748,020
    $0.00
    $748,020

    Comparable in this City

    • Value Estimation
      $1,800,000
      29,474 SF

      5530 Vly Vw Blvd

      MANUFACTURING (LIGHT) • 29,474 SF
      5530 Vly Vw Blvd, Las Vegas, NV 89118-3118
      View Details
    • Value Estimation by Request
      1.10 Acres

      5775 Polaris Ave

      MANUFACTURING (LIGHT) • 1.10 Acres
      5775 Polaris Ave, Las Vegas, NV 89118-3139
      View Details
    • Value Estimation by Request
      3.45 Acres

      3855 Ponderosa Way

      MANUFACTURING (LIGHT) • 3.45 Acres
      3855 Ponderosa Way, Las Vegas, NV 89118
      View Details
    • Value Estimation by Request
      5,550 SF

      4141 Oquendo Rd

      MANUFACTURING (LIGHT) • 5,550 SF
      4141 Oquendo Rd, Las Vegas, NV 89118-3005
      View Details
    • Value Estimation by Request
      5,244 SF

      4325 Patrick Ln

      MANUFACTURING (LIGHT) • 5,244 SF
      4325 Patrick Ln, Las Vegas, NV 89118-6862
      View Details
    • Value Estimation
      $760,000
      0.60 Acres

      Las Vegas, NV 89118

      MANUFACTURING (LIGHT) • 0.60 Acres
      Las Vegas, NV 89118
      View Details

    Similar Nearby for Sale

    • $9,500,000
      20,980 SF

      Las Vegas Multi-Use Property

      Versatile industrial space; event center potential.
      5321 Cameron St, Las Vegas, NV 89118
      View Details
    • Contact for pricing
      138,817 SF

      Industrial Warehouse with Loading Docks

      138,817 SF warehouse featuring multiple loading options.
      3300 Birtcher Dr, Las Vegas, NV 89118
      View Details
    • $7,200,000
      15,000 SF

      Industrial Building with Retail Buildout

      15,000 SF industrial building with retail buildout on 2.1 acres.
      3176 W Martin Ave, Las Vegas, NV 89118
      View Details
    • $4,600,000
      18,788 SF

      Las Vegas Warehouse/Showroom with Billboard

      Warehouse/showroom in Stadium District with billboard income and accessibility improvements.
      3910 Graphic Center Dr, Las Vegas, NV 89118
      View Details
    • $3,288,800
      8,222 SF

      Single-Tenant Office Building Near Freeway

      Freestanding office building with flexible space and convenient freeway access.
      4580 West Post Rd, Las Vegas, NV 89118
      View Details
    • Contact for pricing
      20,607 SF

      Industrial Property in Las Vegas

      20,607 SF industrial property available for sale.
      4145 Wagon Trail Ave, Las Vegas, NV 89118
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      16,318 SF

      Hacienda Business Center Suite

      Las Vegas Industrial Space Available
      5277 Cameron St, Las Vegas, NV 89118
      View Details
    • $1.25 SF/Yr
      25,251 SF

      Renovated Industrial Building with Flex Space

      Adaptable industrial building with suites for flex, manufacturing, warehouse, R&D.
      5045 South Rogers St, Las Vegas, NV 89118
      View Details
    • $1.40 SF/Yr
      73,429 SF

      Valley View Commerce Center: Las Vegas

      Executive Suites & Warehouse Space Available
      5130 Valley View Blvd, Las Vegas, NV 89118
      View Details
    • $1.65 SF/Yr
      54,496 SF

      Hacienda Business Park Flex Space

      Multi-tenant project with easy access to freeways and the airport.
      4010 W Hacienda Ave, Las Vegas, NV 89118
      View Details
    • $1.81 SF/Yr
      140,042 SF

      Multi-Unit Office and Warehouse Flex

      Office and warehouse flex space in Southwest Las Vegas submarket.
      6209-6211 Dean Martin Rd, Las Vegas, NV 89118
      View Details
    • $17 SF/Yr
      37,000 SF

      Industrial Warehouse Space Available

      37,000 square foot industrial warehouse space for lease.
      6170 Mohawk St, Las Vegas, NV 89118
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3685 Russell Rd
    Las Vegas, NV 89118-2424
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.