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Property profile & analytics
OFF-MARKET
Estimated value
$23,790,000
Motels
377 Flamingo Rd Las Vegas, NV 89169-4812
Entity Owned
4-yr Hold
Free & Clear
Property ID
US62-0513619
Property profile
Verified
Property type
Motels
Use group
MOTEL
Lot
3.3 ac (143,748 SF)
APN
162-21-504-014
UPID
US62-0513619
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$23.79M
Owner & transaction history
Ilumina Flamingo LP · 4 yrs held
Ilumina Flamingo LP
since 2022
Last sale
$24.0M
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
$23,375,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$23.79M
Range $21.41M – $26.17M · ±10% · vs last sale $24.00M (Apr 14 2022)
Last sale anchor
$24.00M
Apr 14 2022
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
—
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
$25,209
Tax year 2023
Assessed value
$2,515,590
Assessed 2024
Previous assessed
$2,364,655
+6.4% YoY
Effective rate
1.00%
On assessed value
Assessed land
$2,515,590
Land market value
$7,187,400
Total market value
$7,187,400
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
Motels
Use group
MOTEL
Status
Off-Market
Heating
NONE
Lot
3.3 ac (143,748 SF)
APN
162-21-504-014
UPID
US62-0513619
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
Building & site characteristics
From public records
Heating
NONE
Lot
3.3 ac
Current owner
From public records · entity-resolved
Ilumina Flamingo LP
Entity
Free & Clear · 4 yrs held
Mailing address
360 S ROSEMARY AVE STE #400, WEST PALM BEACH, FL 33401-6052
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2022
—
Ilumina Flamingo LP
Flamingo Vegas Holdco LLC
Re-recorded Document
related
—
Apr 14, 2022
$24,000,000
Ilumina Flamingo LP
Flamingo Vegas Holdco LLC
Bargain And Sale Deed
$12,000,000 · Pnc Bank NA
Nov 19, 2015
$5,500,000
Flamingo Vegas Holdco LLC
Nevada Title Co|flamingo 2005 LLC
Trustees Deed
—
Sep 24, 2014
$179,656
Flamingo 2005 LLC
Treasurer Of Clark County
Grant Deed
—
Jun 20, 2013
$134,422
Flamingo 2005 LLC
Treasurer Of Clark County
Tax Deed
—
Dec 28, 2005
—
Cabi Flamingo LLC
Flamingo LLC
Quit Claim Deed
related
—
May 25, 2005
$22,900
Flamingo 2005 LLC
Mayer Robert L Trust
Grant Deed
$32,000,000 · Hsbc Realty Credit Corp
Feb 9, 2001
—
Mayer Trust
—
Deed Of Trust
related
$9,900,000 · East West Investment INC
Oct 25, 1988
$1,581,230
Mayer,robert L Trust 1982
Unknown
Grant Deed
—
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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