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    4090 Craig Rd North Las Vegas, NV 89032-2757
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    Property profile & analytics

    4090 Craig Rd, North Las Vegas, NV 89032-2757

    View on Map
    • Strip malls
    • 7,620 SF
    • 0.62 lot acres
    Off-Market
    Last Sale Aug 25, 2021
    $2,200,000
    Property ID
    US62-0675233
    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.
    Value Estimations
    $2,090,000
    Show details
    Cap Rate Potential
    5.5%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • NLV African Caribbean Market / Grocery & Convenience Store / Food Market
    • Edward Henson, APRN / Nursing Home
    • Amazon Counter - Health Mart Pharmacy / Postal Service / Courier Service
    • Tango Pharmacy / Pharmacy

    Property Details for 4090 Craig Rd

    Year built
    2008
    Construction
    FRAME
    Lot size
    0.62 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    139-06-615-002
    APU
    13906615002

    Description

    Desert Oaks Plaza, a 7,660 square foot single-story retail strip center in North Las Vegas, Nevada, offers an exceptional opportunity. Located at 4090 W Craig Rd, 89032, this property boasts 2,450 square feet of immediately available space, divisible into units ranging from 1,200 to 2,667 contiguous square feet. Built in 2008, the center sits on a 0.62-acre lot and features six total suites. The property benefits from excellent street visibility and prominent building and pylon signage. The owner is currently investing in upgrades to the building, landscaping, and lighting. A tenant improvement allowance is available for qualified tenants. This prime location within the Craig Road Retail Corridor, a 1.7 million square foot retail area, enjoys high traffic counts exceeding 35,500 vehicles daily. The area also benefits from a new self-storage facility and new residential growth, adding to the strong potential for success. The property is zoned General Commercial (C-2), APN 139-06-615-002, Clark County. Power is single-phase. The property is conveniently located near Allen Cross Street and serves a workforce of over 119,700 people within a 5-mile radius. Photos reflect the space prior to recent tenant improvements, including fresh paint and carpeting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,915,000
      ML approach
      $2,040,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,755,000
      6.5%
      $1,620,000
      7%
      $1,505,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,420,000
      Current use
      AUTO REPAIR, GARAGE
      $3,120,000
      Change: -9% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.195
    Latitude
    36.2396
    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
    $10,013
    $151,239
    $324,694
    $475,933
    -
    $432,111
    $927,697
    $1,359,808

    Comparable in this City

    • Value Estimation
      $3,125,000
      0.69 Acres

      N

      SHOPPING CENTER, STRIP CENTER
      N, Las Vegas, NV 89032
      View Details
    • Value Estimation
      $5,355,000
      22,629 SF

      N

      SHOPPING CENTER, STRIP CENTER
      N, Las Vegas, NV 89032
      View Details
    • Value Estimation
      $3,500,000
      10,971 SF

      2777 Craig Rd

      SHOPPING CENTER, STRIP CENTER
      2777 Craig Rd, North Las Vegas, NV 89032-0762
      View Details
    • Value Estimation
      $2,195,000
      23,838 SF

      725 Craig Rd

      SHOPPING CENTER, STRIP CENTER
      725 Craig Rd, North Las Vegas, NV 89032-6199
      View Details
    • Value Estimation
      $1,320,000
      7,998 SF

      2535 Craig Rd

      SHOPPING CENTER, STRIP CENTER
      2535 Craig Rd, North Las Vegas, NV 89032-0773
      View Details
    • Value Estimation
      $1,290,000
      8,400 SF

      3860 Lk Mead Blvd

      SHOPPING CENTER, STRIP CENTER
      3860 Lk Mead Blvd, North Las Vegas, NV 89032-5202
      View Details

    Similar Nearby for Sale

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      Vacant Lot in North Las Vegas

      Vacant land perfect for building a dream home or investment.
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    Similar Nearby for Lease

    • Contact for pricing
      1,375 SF

      Retail Space Near Walmart

      Inline and end-cap retail spaces available near Walmart.
      1513 W Craig Rd, North Las Vegas, NV 89032
      View Details
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      Retail Pad in Anchored Center

      Multi-tenant retail pad in North Las Vegas for lease.
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      Retail Space in Power Center

      Retail space available in regional power center anchored by Walmart.
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      View Details
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      Walmart-Anchored Shopping Center Space

      Retail spaces available in North Las Vegas shopping center.
      3820 W Lake Mead Blvd, North Las Vegas, NV 89032
      View Details
    • $1.05 SF/Yr

      North Las Vegas Retail Center

      Retail center in North Las Vegas with high visibility.
      3925 N Martin Luther King, North Las Vegas, NV 89032
      View Details
    • $2.00 SF/Yr

      High-Traffic Retail Center on Craig

      Neighborhood retail center on West Craig Road in North Las Vegas.
      655 West Craig Rd, North Las Vegas, NV 89032
      View Details
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    North Las Vegas, NV 89032-2757
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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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