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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    384 Tropicana Ave Las Vegas, NV 89169-7303

    • Retail space
    • 16,305 SF
    • 0.38 lot acres
    OFF-MARKET
    Value Estimations
    $4,575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0454936
    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

    • Golden Hour Nails Spa / Nail Salon
    • Super Liquor McCarran Village - Airport / Specialty Food Shop / Wine and Liquor Store
    • Vegas Best Pizza / Restaurant

    Property Details for 384 Tropicana Ave

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.38 lot acres
    Property size
    16,305 SF
    Property type
    Retail space
    APN
    162-21-810-014
    APU
    16221810014

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,135,000
      6.5%
      $5,665,000
      7%
      $5,260,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $6,095,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $7,080,000
      Change: +16% Conversion: Moderate
      OFFICE BUILDING
      $4,940,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.156
    Latitude
    36.1029
    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
    $17,696
    $131,655
    $1,388,338
    $1,519,993
    -
    $376,157
    $3,966,680
    $4,342,837

    Comparable in this City

    • Value Estimation
      $3,675,000
      18,117 SF

      366 Tropicana Ave

      RETAIL STORES (PERSONAL SERVICES) • 18,117 SF
      366 Tropicana Ave, Las Vegas, NV 89169-7300
      View Details
    • Value Estimation by Request
      2,400 SF

      1253 Vegas Vly Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      1253 Vegas Vly Dr, Las Vegas, NV 89169-2289
      View Details
    • Value Estimation
      $12,470,000
      1.10 Acres

      4185 Paradise Rd

      RETAIL STORES (PERSONAL SERVICES) • 1.10 Acres
      4185 Paradise Rd, Las Vegas, NV 89169-6501
      View Details
    • Value Estimation
      $1,595,000
      6,311 SF

      378 Tropicana Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,311 SF
      378 Tropicana Ave, Las Vegas, NV 89169-7300
      View Details
    • Value Estimation by Request
      1,976 SF

      3314 Seminole Cir

      RETAIL STORES (PERSONAL SERVICES) • 1,976 SF
      3314 Seminole Cir, Las Vegas, NV 89169-3154
      View Details
    • Value Estimation
      $26,215,000
      102,746 SF

      301 Sands Ave

      RETAIL STORES (PERSONAL SERVICES) • 102,746 SF
      301 Sands Ave, Las Vegas, NV 89169
      View Details

    Similar Nearby for Sale

    • $6,700,000
      4,935 SF

      Retail Space Near UNLV Campus

      Retail property near UNLV's west entrance, including Thomas & Mack Center.
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      Paradise Road Retail Center For Sale

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      Harmon Square: Vegas Retail Investment

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    Similar Nearby for Lease

    • $15 SF/Yr
      2,975 SF

      Retail Space in High-Density Area

      Retail space for lease in a high-traffic Las Vegas location.
      3240 S Eastern Ave, Las Vegas, NV 89169
      View Details
    • Contact for pricing
      1,118 SF

      Retail Space in Vons Anchored Center

      Retail spaces available in a busy, anchored shopping center.
      1155-1159 E Twain Ave, Las Vegas, NV 89169
      View Details
    • Contact for pricing
      2,379 SF

      Retail Space in High-Density Area

      Retail space in a high-traffic, high-density Las Vegas location.
      3200 S Eastern Ave, Las Vegas, NV 89169
      View Details
    • $42 SF/Yr
      12,115 SF

      Retail Space on Paradise Road

      Retail space available for lease on Paradise Road, Las Vegas.
      3987 Paradise Rd, Las Vegas, NV 89169
      View Details
    • Contact for pricing
      5,620 SF

      Retail Spaces Available in Las Vegas

      Retail spaces for lease near Hilton Vacations and UNLV.
      372-384 E Tropicana Ave, Las Vegas, NV 89169
      View Details
    • $51 SF/Yr
      32,267 SF

      The Collective: Las Vegas Retail

      Resort Corridor Retail Spaces Available
      3900 Paradise Rd, Las Vegas, NV 89169
      View Details
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    384 Tropicana Ave
    Las Vegas, NV 89169-7303
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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.

    More about this property
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