Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$50,760,000
Casinos
3850 Las Vegas S Blvd Las Vegas, NV 89109-4324
Individually Owned
2-yr Hold
Free & Clear
Property ID
US62-0734927
Property profile
Verified
Property type
Casinos
Use group
CASINO
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
451,978 SF
Lot
50.41 ac (2,195,860 SF)
APN
162-29-510-006
UPID
US62-0734927
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
-
Marshall Rousso Clothing & Fashion Store
-
Souvenir Central (Bike/Boat/Book/etc) Store
-
Dragon's Lair Discount Store
-
Fun Dungeon Arcade & Gaming Center Family Recreation Center
-
Ultimate 4-D Experience Cinema Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$50.76M
Owner & transaction history
State Of Nevada · 2 yrs held
State Of Nevada
since 2024
4 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CASINO
$53,720,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$53,045,000
Change: -1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$50,765,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$50.76M
Range $45.68M – $55.84M · ±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
$112 / 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
$5,952,004
Tax year 2023
Assessed value
$280,758,947
Assessed 2024
Previous assessed
$280,758,947
+0.0% YoY
Effective rate
2.12%
On assessed value
Assessed land
$137,878,049
Assessed improvement
$142,880,898
Land market value
$393,937,283
Improvement market value
$408,231,137
Total market value
$802,168,420
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
Casinos
Use group
CASINO
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Buildings
11
Stories
3
Total area
451,978 SF
Lot
50.41 ac (2,195,860 SF)
APN
162-29-510-006
UPID
US62-0734927
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
CASINO Current
Est. value
$53.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$53.0M
AUTO REPAIR, GARAGE
Est. value
$50.8M
CASINO Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
11
Lot
50.41 ac
Current owner
From public records · entity-resolved
State Of Nevada
Individual
Free & Clear · 2 yrs held
Mailing address
1263 S STEWART ST, CARSON CITY, NV 89712-0001
Ownership since
2024
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 1, 2024
—
State Of Nevada
Mgp Lessor LLC
Deed
—
Jul 27, 2018
—
Mgp Lessor LLC
—
Deed
related
$168,484,203 · Bank Of America
Apr 20, 2016
—
Ex Resort Propco LLC
New Castle Corp
Grant Deed
related
—
—
—
Mgp Lessor LLC
—
Loan Modification
related
$168,484,203 · Bank Of America
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3850 Las Vegas S Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
