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    37 Water St Henderson, NV 89015-7222

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    Property profile & analytics

    37 Water St Henderson, NV 89015-7222

    View on Map
    • Strip malls
    • 10,228 SF
    • 0.34 lot acres
    Off-Market
    Property ID
    US62-0730166
    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
    $3,015,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • GoodLife Craft Brews and Gaming / Bar & Pub
    • Street Burger / Restaurant
    • Downtown Vintage Barbershop / Barber Shop
    • Brick & Mortar Studio / Hotel & Motel / Resort
    • Downtown Tattoo / Tattoo & Piercing Shop

    Property Details for 37 Water St

    Year built
    2021
    Construction
    FRAME
    Lot size
    0.34 lot acres
    Property size
    10,228 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    179-18-614-001
    APU
    17918614001

    Description

    This exceptional commercial property, located at 37 S Water Street in Henderson, Nevada, offers two available office suites ideal for businesses seeking a vibrant and convenient location. Situated in the heart of Water Street's thriving downtown area, this property provides easy access to a bustling community of retail shops, diverse restaurants, popular breweries, and a growing residential population. The building's prime location ensures high visibility and foot traffic, making it an attractive option for businesses looking to establish a strong presence in the area. The available spaces offer flexible layouts, with one suite measuring 1,616 square feet and the other spanning 1,868 square feet. Both suites are part of a multi-tenant building, providing a collaborative and dynamic work environment. The property is classified as both retail and office space, offering versatility for a range of business types. Its address is 37 S Water St, Henderson, NV 89015, within Clark County. The property's proximity to the area's amenities makes it an excellent choice for businesses seeking a location that offers both convenience and a thriving community atmosphere. This is a rare opportunity to secure office space in a highly desirable and rapidly developing area of Henderson. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,180,000
      6.5%
      $3,860,000
      7%
      $3,585,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,505,000
      Current use
      AUTO REPAIR, GARAGE
      $4,585,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Clark
    State
    Nevada
    Longitude
    -114.985
    Latitude
    36.0349
    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
    $20,112
    $62,202
    $742,756
    $804,958
    -
    $177,720
    $2,122,160
    $2,299,880

    Comparable in this City

    • Value Estimation
      $1,440,000
      6,006 SF

      Henderson, NV 89015

      SHOPPING CENTER, STRIP CENTER • 6,006 SF
      Henderson, NV 89015
      View Details
    • Value Estimation
      $4,500,000
      7,151 SF

      366 Lk Mead Pkwy

      SHOPPING CENTER, STRIP CENTER • 7,151 SF
      366 Lk Mead Pkwy, Henderson, NV 89015-7286
      View Details
    • Value Estimation
      $2,305,000
      10,228 SF

      37 Water St

      SHOPPING CENTER, STRIP CENTER • 10,228 SF
      37 Water St, Henderson, NV 89015-7222
      View Details
    • Value Estimation
      $765,000
      4,025 SF

      7 Water St

      SHOPPING CENTER, STRIP CENTER • 4,025 SF
      7 Water St, Henderson, NV 89015-7213
      View Details
    • Value Estimation
      $855,000
      4,000 SF

      120 Horizon Dr

      SHOPPING CENTER, STRIP CENTER • 4,000 SF
      120 Horizon Dr, Henderson, NV 89015-7931
      View Details
    • Value Estimation
      $2,140,000
      9,460 SF

      170 Boulder Hwy

      SHOPPING CENTER, STRIP CENTER • 9,460 SF
      170 Boulder Hwy, Henderson, NV 89015-1551
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,670 SF

      Henderson Shopping Center For Sale

      Fully occupied shopping center in Henderson, Nevada, anchored by Albertsons.
      170-190 N Boulder Hwy, Henderson, NV 89015
      View Details
    • Contact for pricing
      179,920 SF

      Diversified Retail Center Portfolio

      Eight retail centers across the Western US for sale.
      1421 S Boulder Hwy, Henderson, NV 89015
      View Details
    • Contact for pricing
      3,800 SF

      Boulder Highway Retail NNN Lease

      Retail property with a new 15-year absolute triple net lease.
      1461 S Boulder Hwy, Henderson, NV 89015
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      Henderson Redevelopment Opportunity Zone Property

      Eleven parcels for redevelopment in Henderson's Opportunity Zone.
      Lk Mead Blvd. & Atlantic St, Henderson, NV 89015
      View Details
    • $1,800,000
      5.00 Acres

      Henderson Vacant Land Opportunity

      Vacant lot in Henderson, build your dream home!
      N Magic Way, Henderson, NV 89015
      View Details
    • $230,000
      0.69 Acres

      Residential Land in Henderson, Nevada

      Land with mountain views, suitable for custom home development.
      Parawan St, Henderson, NV 89015
      View Details

    Similar Nearby for Lease

    • $1.50 SF/Yr

      Henderson Neighborhood Shopping Center Space

      Retail, office, and entertainment spaces available in Henderson, Nevada.
      524-544 S Boulder Hwy, Henderson, NV 89015
      View Details
    • Contact for pricing

      Retail Space in Cornet Plaza

      Retail space available in busy Henderson shopping center.
      771 E Horizon Dr, Henderson, NV 89015
      View Details
    • Contact for pricing

      Boulder Marketplace Retail Space Available

      18,320 SF retail space in Boulder Marketplace shopping center.
      716 S Boulder Hwy, Henderson, NV 89015
      View Details
    • Contact for pricing
      3,889 SF

      Upscale Retail Center Space Available

      Retail suites available in growing Henderson location.
      1473 E Lake Mead Pkwy, Henderson, NV 89015
      View Details
    • $1.50 SF/Yr
      2,200 SF

      Retail Space on Boulder Highway

      Retail spaces available on Boulder Highway with high visibility.
      522-538 S Boulder Hwy, Henderson, NV 89015
      View Details
    • Contact for pricing

      College Square Retail Center Space

      Retail space available in College Square shopping center.
      Nwc College & Horizon, Henderson, NV 89015
      View Details
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    37 Water St
    Henderson, NV 89015-7222
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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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    37 Water St, Henderson, NV, 89015

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