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Property profile & analytics
OFF-MARKET
Estimated value
$2,330,000
Office buildings
4120 Martin L King Blvd North Las Vegas, NV 89032-0297
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0138822
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
FRAME
Total area
4,800 SF
Lot
0.52 ac (22,651 SF)
APN
139-04-818-010
UPID
US62-0138822
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.60M
Blend (final)
Blend
$2.33M
Owner & transaction history
Roger W Leasure III · 4 yrs held
Roger W Leasure III
since 2021
Last sale
$2.4M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.2M
+38.8%
Auto repair, garage
$2.0M
+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
by Request
ML approach
$3,180,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,555,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,155,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,965,000
Change: +26% · Conversion: Difficult
Blend value · Realmo final
$2.33M
Range $2.10M – $2.56M · ±10% · vs last sale $2.40M (Sep 23 2021)
Last sale anchor
$2.40M
Sep 23 2021
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
$485 / 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
$3,735
Tax year 2023
Assessed value
$265,825
Assessed 2024
Previous assessed
$247,107
+7.6% YoY
Effective rate
1.41%
On assessed value
Assessed land
$99,098
Assessed improvement
$166,727
Land market value
$283,137
Improvement market value
$476,363
Total market value
$759,500
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
4,800 SF
Lot
0.52 ac (22,651 SF)
APN
139-04-818-010
UPID
US62-0138822
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
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.0M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
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
2007
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
Roger W Leasure III
Individual
Mailing address
9980 HORN RD, SACRAMENTO, CA 95827-1905
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
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 5, 2011
$120,000
Looc Holding LLC
Northpointe Investment LLC
Grant Deed
—
May 16, 2007
$936,000
Northpointe Investment LLC
Gsg Alexander LLC
Grant Deed
$900,000 · Silver State Bank
—
—
Northpointe Investment LLC
—
Deed Of Trust
related
$242,500 · Glen Alan Family Trust
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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