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    Property profile & analytics

    3987 Paradise Rd Las Vegas, NV 89169

    • Turn key restaurants
    • 12,635 SF
    • 2.57 lot acres
    For Lease
    View listing
    $42 SF/Yr
    Last Sale
    Mar 17, 2025
    $10,066,241
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0397568
    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

    • Twisted Tenders / Chicken Wings Restaurant / American Restaurant

    Property Details for 3987 Paradise Rd

    Year built
    1998
    Construction
    FRAME
    Lot size
    2.57 lot acres
    Property size
    12,635 SF
    Property type
    Turn key restaurants
    APN
    162-16-811-018
    APU
    16216811018

    Description

    This exceptional Class A retail property, totaling 12,115 square feet, is situated at 3987 Paradise Rd, Las Vegas, NV 89119, at the intersection of Flamingo Rd. and Paradise Rd. Built in 1995, this single-story, two-building power center offers a unique opportunity for a national chain or multiple tenants. The property is zoned Limited Resort and Apartment (H-1) within Clark County's Resort Corridor submarket. The entire 12,115 square feet is currently occupied, presenting a stable investment opportunity. This location benefits from its proximity to the Las Vegas Strip, numerous hotels, entertainment venues, shopping centers, and dining establishments. High traffic volume is ensured by its location near convention centers, UNLV, and McCarran International Airport. The property is part of the Hughes Center, a premier 68-acre mixed-use development in Las Vegas' central business district. The APN is 16216811015. This is a rare chance to acquire a well-established retail space in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    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
    36.1169
    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
    $45,645
    $1,244,033
    $926,519
    $2,170,552
    -
    $3,554,380
    $2,647,197
    $6,201,577

    Comparable in this City

    • Value Estimation
      $330,000
      12,443 SF

      365 Hughes Ctr Dr

      RESTAURANT • 12,443 SF
      365 Hughes Ctr Dr, Las Vegas, NV 89169-4827
      View Details
    • Value Estimation
      $80,000
      6,000 SF

      211 Flamingo Rd

      RESTAURANT • 6,000 SF
      211 Flamingo Rd, Las Vegas, NV 89169-4708
      View Details
    • Value Estimation
      $240,000
      0.39 Acres

      4861 Deckow Ln

      RESTAURANT • 0.39 Acres
      4861 Deckow Ln, Las Vegas, NV 89169-7104
      View Details
    • Value Estimation
      $130,000
      2,500 SF

      2625 Eastern Ave

      RESTAURANT • 2,500 SF
      2625 Eastern Ave, Las Vegas, NV 89169-1814
      View Details
    • Value Estimation
      $215,000
      2,999 SF

      3240 Eastern Ave

      RESTAURANT • 2,999 SF
      3240 Eastern Ave, Las Vegas, NV 89169-3309
      View Details
    • Value Estimation
      $375,000
      10,346 SF

      335 Hughes Ctr Dr

      RESTAURANT • 10,346 SF
      335 Hughes Ctr Dr, Las Vegas, NV 89169-4814
      View Details

    Similar Nearby for Sale

    • $14,235,000
      4,935 SF

      Paradise Road Retail Center For Sale

      Fully occupied retail center with national tenants in Las Vegas.
      4501 Paradise Rd, Las Vegas, NV 89169
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    • $49,000,000
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      Harmon Square: Vegas Retail Investment

      High-yield, multi-tenant retail center.
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    • $6,700,000
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      Retail Space Near UNLV Campus

      Retail property near UNLV's west entrance, including Thomas & Mack Center.
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    • $219,999

      Furnished Condo in 55+ Community

      Furnished 2 bed, 2 bath condo in Las Vegas.
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    Similar Nearby for Lease

    • Contact for pricing
      46,844 SF

      McCarran Village Restaurant Space

      Las Vegas Restaurant/Retail Opportunity, Two Spaces Available
      360 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
    • $54 SF/Yr
      2,304 SF

      Retail Space in Hughes Center

      Retail space available for lease in Las Vegas, Nevada.
      365 Hughes Center Dr, Las Vegas, NV 89169
      View Details
    • Contact for pricing
      4,800 SF

      Boulevard Mall Retail Pads

      Las Vegas retail space, prime location.
      3528 Maryland Pkwy, Las Vegas, NV 89169
      View Details
    • $60 SF/Yr
      2,876 SF

      Retail Space in Hughes Center

      Retail space available for lease in Las Vegas, Nevada.
      325 Hughes Center Dr, 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
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    3987 Paradise Rd
    Las Vegas, NV 89169
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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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