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Property profile & analytics
FOR LEASE
Drug stores
3717 S Las Vegas Blvd Las Vegas, NV 89109
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US62-0552514
For Lease
1 / 13
$5,405,000
3717 S Las Vegas Blvd, Las Vegas, NV 89109
View Listing →
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2011
Construction
STEEL FRAME
Total area
19,905 SF
Lot
0.5 ac (21,780 SF)
APN
162-21-214-003
UPID
US62-0552514
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
-
Golden Ramzy Restaurant
-
Viva Vegas Gifts - Miracle Mile (Bike/Boat/Book/etc) Store
-
Magnet Max (Bike/Boat/Book/etc) Store
-
Subway Take-out & Catering
-
One Harmon LLC Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.92M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.41M
Owner & transaction history
Wlgrn Nv LLC · 13 yrs held
Wlgrn Nv LLC
since 2012
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$8.6M
+16.1%
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%
$7,490,000
6.5%
$6,915,000
7%
$6,420,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,440,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$8,640,000
Change: +16% · Conversion: Moderate
OFFICE BUILDING
$6,030,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$5.41M
Range $4.86M – $5.95M · ±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
$272 / 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
$63,404
Tax year 2023
Assessed value
$3,386,121
Assessed 2024
Previous assessed
$3,157,988
+7.2% YoY
Effective rate
1.87%
On assessed value
Assessed land
$1,322,972
Assessed improvement
$2,063,149
Land market value
$3,779,920
Improvement market value
$5,894,711
Total market value
$9,674,631
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
For Lease
Year built
2011
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
19,905 SF
Lot
0.5 ac (21,780 SF)
APN
162-21-214-003
UPID
US62-0552514
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
$7.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.6M
OFFICE BUILDING
Est. value
$6.0M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
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
2011
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Wlgrn Nv LLC
Entity
Mailing address
PO BOX 901, DEERFIELD, IL 60015-0901
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2017
—
Bps 2 LLC
—
Grant Deed
related
$27,600,000 · Goldman Sachs Bk USA
Jan 25, 2013
—
Wlgrn Nv LLC
—
Deed Of Trust
related
$80,000,000 · Wells Fargo Bank
Oct 19, 2012
$38,502,797
Wlgrn Nv LLC
Bps Partners LLC
Grant Deed
related
—
Sep 7, 2012
—
Bps Partners LLC
Bps Partners LLC
Quit Claim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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