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Property profile & analytics
OFF-MARKET
Estimated value
$153,165,000
Hotels
3801 Las Vegas S Blvd Las Vegas, NV 89109-4325
Entity Owned
3-yr Hold
Free & Clear
Property ID
US62-0524542
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
447,206 SF
Lot
35.11 ac (1,529,392 SF)
APN
162-28-112-001
UPID
US62-0524542
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
-
Tropicana Gift Shop (Bike/Boat/Book/etc) Store
-
Bondi Inc Pharmacy
-
Alexandra II Salon Hair Salon Nail Salon
-
Jade Palace (Bike/Boat/Book/etc) Store
-
HackerDeluxe Las Vegas High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$172.53M
Blend (final)
Blend
$153.17M
Owner & transaction history
Tropicana Las Vegas INC · 3 yrs held
Tropicana Las Vegas INC
since 2022
Last sale
$148.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$248.4M
+108.3%
Neighborhood: shopping center
$194.1M
+62.8%
Retail stores
$167.2M
+40.2%
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
$144,130,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$119,270,000
Current use
AUTO REPAIR, GARAGE
$248,380,000
Change: +108% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$194,135,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$167,190,000
Change: +40% · Conversion: Difficult
OFFICE BUILDING
$135,425,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$153.17M
Range $137.85M – $168.48M · ±10% · vs last sale $148.00M (Sep 26 2022)
Last sale anchor
$148.00M
Sep 26 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
$342 / 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
$1,516,428
Tax year 2023
Assessed value
$144,243,006
Assessed 2024
Previous assessed
$135,880,863
+6.2% YoY
Effective rate
1.05%
On assessed value
Assessed land
$100,205,764
Assessed improvement
$44,037,242
Land market value
$286,302,183
Improvement market value
$125,820,691
Total market value
$412,122,874
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Buildings
11
Stories
20
Units
1654
Total area
447,206 SF
Lot
35.11 ac (1,529,392 SF)
APN
162-28-112-001
UPID
US62-0524542
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
HOTEL/MOTEL Current
Est. value
$119.3M
AUTO REPAIR, GARAGE
Est. value
$248.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$194.1M
RETAIL STORES
Est. value
$167.2M
OFFICE BUILDING
Est. value
$135.4M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
20
Buildings
11
Units
1654
Lot
35.11 ac
Current owner
From public records · entity-resolved
Tropicana Las Vegas INC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 543185, DALLAS, TX 75354-3185
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2022
$148,000,000
Tropicana Las Vegas INC
Tropicana Land LLC
Bargain And Sale Deed
—
Sep 26, 2022
—
Tropicana Las Vegas INC
Tropicana Land LLC
Ground Lease
related
—
Apr 16, 2020
—
Tropicana Land LLC
Tropicana Las Vegas INC
Quit Claim Deed
related
—
Jan 16, 2019
—
Tropicana Las Vegas INC
—
Loan Modification
related
—
Jul 3, 2012
—
Tropicana Las Vegas INC
—
Loan Modification
related
$65,000,000 · Wells Fargo Bank
May 14, 2010
—
Tropicana Las Vegas INC
—
Deed Of Trust
related
$60,000,000 · Foothill Group INC
Jul 21, 2009
—
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
related
—
Jul 1, 2009
$250,000,000
Tropicana Las Vegas INC
Tropicana Ents
Grant Deed
—
Jan 5, 2007
—
Tropicana Ents
—
Deed Of Trust
related
$440,000,000 · Credit Suisse
—
—
Tropicana Las Vegas INC
—
Loan Modification, Consolidation And Extension
related
—
—
—
Tropicana Las Vegas INC
—
Deed Of Trust
related
$1,500,000,000 · Bank Of America
—
—
Tropicana Las Vegas INC
—
Loan Modification
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.
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