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Property profile & analytics
OFF-MARKET
Estimated value
$84,490,000
Casinos
3950 Las Vegas S Blvd Las Vegas, NV 89119-1005
Entity Owned
5-yr Hold
Free & Clear
Property ID
US62-0530569
Property profile
Verified
Property type
Casinos
Use group
CASINO
Year built
1998
Construction
FRAME
Total area
864,075 SF
Lot
118.89 ac (5,178,848 SF)
APN
162-29-710-002
UPID
US62-0530569
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
-
FedEx Office Print & Ship Center Courier Service Postal Service
-
Michael Jackson ONE by Cirque du Soleil Theater & Performing Art Venue DJ & Entertainment
-
Foundation Room Bar & Pub Nightclub
-
Moorea Beach Club Nightclub Music Venue
-
Mandalay Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$84.49M
Owner & transaction history
State Of Nv By & Through Its Dept O · 5 yrs held
State Of Nv By & Through Its Dept O
since 2021
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$113.6M
+42.5%
Auto repair, garage
$97.1M
+21.7%
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
$79,745,000
Current use
OFFICE BUILDING
$113,615,000
Change: +42% · Conversion: Difficult
AUTO REPAIR, GARAGE
$97,055,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$84.49M
Range $76.04M – $92.94M · ±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
$98 / 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
$12,305,933
Tax year 2023
Assessed value
$995,673,347
Assessed 2024
Previous assessed
$801,816,592
+24.2% YoY
Effective rate
1.24%
On assessed value
Assessed land
$231,970,689
Assessed improvement
$763,702,658
Land market value
$662,773,397
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
1998
Construction
FRAME
Heating
HEAT PUMP
Cooling
AC.CHILLED WATER
Buildings
32
Stories
2
Units
4393
Total area
864,075 SF
Lot
118.89 ac (5,178,848 SF)
APN
162-29-710-002
UPID
US62-0530569
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
$79.7M
OFFICE BUILDING
Est. value
$113.6M
AUTO REPAIR, GARAGE
Est. value
$97.1M
CASINO Current
OFFICE BUILDING
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
1998
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
32
Units
4393
Lot
118.89 ac
Current owner
From public records · entity-resolved
State Of Nv By & Through Its Dept O
Entity
Free & Clear · 5 yrs held
Mailing address
3950 LAS VEGAS BLVD S, LAS VEGAS, NV 89119-1005
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 20, 2021
—
State Of Nv By & Through Its Dept O
County Of Clark
Quit Claim Deed
related
—
Apr 20, 2016
—
Mb Resort Propco LLC
Mandalay Corp
Grant Deed
related
—
May 21, 2015
—
Mandalay Corp
Ramparts INC
Quit Claim Deed
related
—
Mar 1, 2013
—
Mandalay Corp
Mandalay Corp
Quit Claim Deed
related
—
—
—
Mandalay Propco LLC
—
Deed Of Trust
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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