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Property profile & analytics
OFF-MARKET
Estimated value
$15,015,000
Outlet malls
408 Lk Mead Pkwy Henderson, NV 89015-7417
Entity Owned
4-yr Hold
Free & Clear
Property ID
US62-0016152
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2008
Total area
48,001 SF
Lot
15.72 ac (684,763 SF)
APN
178-13-612-008
UPID
US62-0016152
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
-
CubeSmart Self Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.90M
Comparable Approach
Comparable
$13.22M
Blend (final)
Blend
$15.02M
Owner & transaction history
Lake Mead Development LLC · 4 yrs held
Lake Mead Development LLC
since 2022
Last sale
$16.1M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$21.5M
+62.8%
Neighborhood: shopping center
$21.1M
+60.0%
Office building
$15.0M
+13.4%
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 Henderson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Henderson 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
$12,745,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$18,310,000
6.5%
$16,900,000
7%
$15,695,000
Alternative Use
Use
Estimation
RETAIL STORES
$13,220,000
Current use
AUTO REPAIR, GARAGE
$21,515,000
Change: +63% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$21,145,000
Change: +60% · Conversion: Moderate
OFFICE BUILDING
$14,995,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$15.02M
Range $13.51M – $16.52M · ±10% · vs last sale $16.10M (Feb 21 2025)
Last sale anchor
$16.10M
Feb 21 2025
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
$313 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$3
Tax year 2022
Applied tax rate
518.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2008
Buildings
2
Stories
1
Total area
48,001 SF
Lot
15.72 ac (684,763 SF)
APN
178-13-612-008
UPID
US62-0016152
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
RETAIL STORES Current
Est. value
$13.2M
AUTO REPAIR, GARAGE
Est. value
$21.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$21.1M
OFFICE BUILDING
Est. value
$15.0M
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE 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
2008
Stories
1
Buildings
2
Lot
15.72 ac
Current owner
From public records · entity-resolved
Lake Mead Development LLC
Entity
Free & Clear · 4 yrs held
Mailing address
257 E MAIN ST STE #200, BARRINGTON, IL 60010-4350
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2022
—
Lake Mead Development LLC
Lake Mead Development LLC
Intrafamily Transfer
related
—
Apr 14, 2022
$2,000,000
Lake Mead Self Storage LLC
Lake Mead Development LLC
Bargain And Sale Deed
related
$20,000 · Barrington Bank & Trust Company NA
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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