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

    3701 Vegas Dr Las Vegas, NV 89108

    • Office buildings
    • 1,346 SF
    • 0.16 lot acres
    For Sale
    View listing
    $520,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0368563
    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

    • Musicians Union of Las Vegas / Association Or Organization

    Property Details for 3701 Vegas Dr

    Year built
    1954
    Construction
    FRAME
    Lot size
    0.16 lot acres
    Property size
    1,346 SF
    Property type
    Office buildings
    APN
    139-30-515-001
    APU
    13930515001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.188
    Latitude
    36.1883
    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
    $1,121
    $19,513
    $18,835
    $38,348
    -
    $55,751
    $53,814
    $109,565

    Comparable in this City

    • Value Estimation by Request
      1,182 SF

      3711 Vegas Dr

      OFFICE BUILDING • 1,182 SF
      3711 Vegas Dr, Las Vegas, NV 89108-1958
      View Details
    • Value Estimation by Request
      1,482 SF

      3613 Vegas Dr

      OFFICE BUILDING • 1,482 SF
      3613 Vegas Dr, Las Vegas, NV 89108-1960
      View Details
    • Value Estimation
      $735,000
      2,818 SF

      6574 Cheyenne Ave

      OFFICE BUILDING • 2,818 SF
      6574 Cheyenne Ave, Las Vegas, NV 89108-4929
      View Details
    • Value Estimation
      $525,000
      2,400 SF

      2385 Decatur Blvd, Unit 110

      OFFICE BUILDING • 2,400 SF
      2385 Decatur Blvd, Las Vegas, NV 89108-2956
      View Details
    • Value Estimation
      $600,000
      2,684 SF

      4515 Balsam St

      OFFICE BUILDING • 2,684 SF
      4515 Balsam St, Las Vegas, NV 89108-5701
      View Details
    • Value Estimation
      $590,000
      2,800 SF

      3990 Vegas Dr

      OFFICE BUILDING • 2,800 SF
      3990 Vegas Dr, Las Vegas, NV 89108-1933
      View Details

    Similar Nearby for Sale

    • $999,000
      5,000 SF

      Decatur Boulevard Standalone Office Building

      Freestanding office building with parking and high street visibility.
      2309 N Decatur Blvd, Las Vegas, NV 89108
      View Details
    • $1,675,000
      3,960 SF

      Las Vegas Commercial Office/Land

      Vacant C-Class building, great location.
      2167 Decatur Blvd, Las Vegas, NV 89108
      View Details
    • $520,000
      1,346 SF

      Las Vegas Music History Building

      Former Musicians Union Building suitable for office, daycare, religious facilities.
      3701 Vegas Dr, Las Vegas, NV 89108
      View Details
    • $700,000

      Four-Unit Multifamily Property

      Four units, each with two beds and two baths.
      5325 Redberry St, Las Vegas, NV 89108
      View Details
    • $775,000

      Fully Occupied Income-Generating Fourplex

      Fourplex with steady income, tenant stability, and growth potential.
      6217 Yerba Ln, Las Vegas, NV 89108
      View Details
    • $629,000

      Las Vegas Fourplex Investment Opportunity

      Four-unit property with upgraded units, ideal for investors.
      3217 Joann Way, Las Vegas, NV 89108
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      120,152 SF

      Renovated Mixed-Use Business Park

      Newly renovated office/retail park in central Las Vegas.
      6140-6150 W Lake Mead Blvd, Las Vegas, NV 89108
      View Details
    • $1.25 SF/Yr
      580 SF

      Office Space with Ample Parking

      Office spaces available with parking and HVAC maintained by landlord.
      6002-6040 Smoke Ranch Rd, Las Vegas, NV 89108
      View Details
    • $19 SF/Yr
      16,920 SF

      Renovated Mixed-Use Project

      Newly renovated mixed-use project on 8.98 acres.
      6126-6150 W Lake Mead Blvd, Las Vegas, NV 89108
      View Details
    • $85,056
      3,960 SF

      Decatur Blvd Office Space, Las Vegas

      Prime Las Vegas Office, 3960 sq ft
      2167 Decatur Blvd, Las Vegas, NV 89108
      View Details
    • $0.90 SF/Yr
      44,780 SF

      West Lake Mead Retail Center

      Retail and office spaces available near the 95 Freeway.
      2192 North Rainbow Blvd, Las Vegas, NV 89108
      View Details
    • $1,150 /Mo
      935 SF

      Two Bedroom Unit For Rent

      Two-bedroom, two-bath unit with new flooring and spacious layout.
      2141 Hussium Hills St, Las Vegas, NV 89108
      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.
    3701 Vegas Dr
    Las Vegas, NV 89108
    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.