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Property profile & analytics
OFF-MARKET
Estimated value
$2,385,000
Office buildings
4040 Martin L King Blvd North Las Vegas, NV 89032-3205
Individually Owned
3-yr Hold
Free & Clear
Property ID
US62-0138821
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
FRAME
Total area
7,200 SF
Lot
0.84 ac (36,590 SF)
APN
139-04-818-006
UPID
US62-0138821
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
-
Hope Christian Health Center MLK Community Health Centre Health Care Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.27M
CAP Approach
CAP
$1.64M
Comparable Approach
Comparable
$2.47M
Blend (final)
Blend
$2.39M
Owner & transaction history
Paula S Leasure · 3 yrs held
Paula S Leasure
since 2022
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.2M
+38.8%
Auto repair, garage
$2.9M
+26.5%
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 North Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$2,675,000
ML approach
$2,270,000
CAP Approach
CAP Return
Estimation
6%
$1,775,000
6.5%
$1,635,000
7%
$1,520,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,330,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,235,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,945,000
Change: +26% · Conversion: Difficult
MEDICAL BUILDING
$2,080,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$2.39M
Range $2.15M – $2.62M · ±10% · vs last sale $2.40M (Dec 28 2022)
Last sale anchor
$2.40M
Dec 28 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
$331 / 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
$12,300
Tax year 2023
Assessed value
$410,882
Assessed 2024
Previous assessed
$369,841
+11.1% YoY
Effective rate
2.99%
On assessed value
Assessed land
$160,081
Assessed improvement
$250,801
Land market value
$457,374
Improvement market value
$716,574
Total market value
$1,173,948
Applied tax rate
250.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2007
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Total area
7,200 SF
Lot
0.84 ac (36,590 SF)
APN
139-04-818-006
UPID
US62-0138821
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
OFFICE BUILDING Current
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.1M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL 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
2007
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.84 ac
Current owner
From public records · entity-resolved
Paula S Leasure
Individual
Free & Clear · 3 yrs held
Mailing address
9980 HORN RD, SACRAMENTO, CA 95827-1905
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2022
—
Paula S Leasure
Roger W Leasure III
Intrafamily Transfer
related
—
Sep 23, 2021
$2,400,000
Roger W Leasure III
Looc Holding LLC
Bargain And Sale Deed
$1,340,000 · Farmers & Merchants Bank Of Central
Apr 8, 2011
$280,000
Looc Holding LLC
Lin,mei C
Grant Deed
—
Dec 23, 2010
—
Mei C Lin
Chen,curtis
Quit Claim Deed
related
—
Dec 23, 2010
$401,500
Mei C Lin
Zions First Natl Bk
Grant Deed
—
Dec 23, 2010
$801,729
Zions First Natl Bk
Howard & Howard PLLC
Trustees Deed
related
—
Dec 22, 2010
$801,729
Zions First Natl Bk
Howard & Howard Attys PLLC
Trustees Deed
related
—
Jul 14, 2010
$801,729
Zions First Natl Bk
Howard & Howard Attorneys PLLC
Trustees Deed
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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