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Property profile & analytics
OFF-MARKET
Estimated value
$34,390,000
Hotels
4321 Flamingo Rd Las Vegas, NV 89103-3903
Entity Owned
14-yr Hold
Free & Clear
Property ID
US62-0297982
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
449,624 SF
Lot
24.79 ac (1,079,852 SF)
APN
162-19-501-004
UPID
US62-0297982
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
-
Linda`s place Spa. Alternative Medicine Practice Spa & Massage Center
-
Studio at The Palms Recording Studio
-
Moon Nightclub Nightclub DJ & Entertainment
-
Vetri Cucina Las Vegas Restaurant
-
Rojo Lounge Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$34.39M
Owner & transaction history
Fp Landco LLC · 14 yrs held
Fp Landco LLC
since 2011
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$76 / 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
$1,883,741
Tax year 2023
Assessed value
$154,603,865
Assessed 2024
Previous assessed
$138,874,890
+11.3% YoY
Effective rate
1.22%
On assessed value
Assessed land
$11,716,394
Assessed improvement
$142,887,471
Land market value
$33,475,411
Improvement market value
$408,249,917
Total market value
$441,725,328
Applied tax rate
470.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.CHILLED WATER
Buildings
10
Stories
25
Units
730
Total area
449,624 SF
Lot
24.79 ac (1,079,852 SF)
APN
162-19-501-004
UPID
US62-0297982
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
Building & site characteristics
From public records
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
25
Buildings
10
Units
730
Lot
24.79 ac
Current owner
From public records · entity-resolved
Fp Landco LLC
Entity
Free & Clear · 14 yrs held
Mailing address
4321 W FLAMINGO RD, LAS VEGAS, NV 89103-3903
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2020
—
Fp Holdings LP
—
Deed
related
—
Apr 9, 2019
—
Fp Holdings LP
—
Grant Deed
related
—
Nov 20, 2017
—
Fp Holdings LP
—
Loan Modification
related
—
Jul 25, 2017
—
Fp Holdings LP
—
Loan Modification
related
$250,000,000 · Deutsche Bk Ag Cayman Iss Br
Mar 1, 2017
—
Fp Holdings LP
—
Loan Modification
related
—
Oct 3, 2016
—
Fp Holdings LP
—
Deed
related
$2,410,000 · Deutsche Bk Ag Cayman Iss Br
Nov 21, 2012
—
Fp Holdings LP
—
Deed Of Trust
related
$100,000,000 · Wells Fargo Gaming Capital LLC
Nov 30, 2011
—
Fp Holdings LP
—
Deed Of Trust
related
$70,000,000 · Wells Fargo Gaming Capital LLC
Nov 29, 2011
—
Fp Landco LLC
Fiesta Palms LLC
Grant Deed
related
—
Aug 11, 2010
—
Fiesta Palms LLC
—
Deed Of Trust
related
$402,073,273 · Wells Fargo Bank
Dec 17, 2004
—
Fiesta Palms LLC
—
Grant Deed
related
$175,000,000 · Wells Fargo Bank
Aug 1, 2003
—
Clark County (nv)
Fiesta Palms LLC
Grant Deed
related
—
—
—
Fp Holdings LP
—
Loan Modification
related
—
—
—
Fp Holdings LP
—
Loan Modification
related
$100,000,000 · Wells Fargo Gaming Cap INC
—
—
Fp Holdings LP
—
Loan Modification
related
$65,000,000 · Wells Fargo Gaming Cap LLC
—
—
Fp Holdings LP
—
Deed Of Trust
related
$2,410,000 · Deutsche Bk Ag Cayman Iss Br
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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