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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    450 Fremont St Las Vegas, NV 89101-5623

    • Parking lots & garages
    • 231,718 SF
    • 2.75 lot acres
    OFF-MARKET
    Value Estimations
    $1,380,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-1275696
    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.

    Current Use by Public Records

    • Gene Woods racing experience On Fremont Street / Go-Kart Track
    • Diva Royale Drag Queens Show / Theater & Performing Art Venue
    • The Little Neon Chapel / Wedding Service / Church
    • Elvis Weddings in Vegas / Wedding Service
    • Crash N Burn Las Vegas / Restaurant

    Property Details for 450 Fremont St

    Year built
    2002
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.75 lot acres
    Property size
    231,718 SF
    Property type
    Parking lots & garages
    APN
    139-34-513-003
    APU
    13934513003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.141
    Latitude
    36.1701
    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
    $0.00
    $1,530,317
    $6,749,204
    $8,279,521
    -
    $4,372,334
    $19,283,440
    $23,655,774

    Comparable in this City

    • Value Estimation
      $1,075,000
      221,239 SF

      200 1st St

      PARKING GARAGE, PARKING STRUCTURE • 221,239 SF
      200 1st St, Las Vegas, NV 89101
      View Details
    • Value Estimation
      $675,000
      143,571 SF

      200 Main St

      PARKING GARAGE, PARKING STRUCTURE • 143,571 SF
      200 Main St, Las Vegas, NV 89101-6357
      View Details
    • Value Estimation
      $680,000
      130,444 SF

      126 Casino Ctr Blvd

      PARKING GARAGE, PARKING STRUCTURE • 130,444 SF
      126 Casino Ctr Blvd, Las Vegas, NV 89101
      View Details
    • Value Estimation
      $675,000
      52,352 SF

      210 9th St

      PARKING GARAGE, PARKING STRUCTURE • 52,352 SF
      210 9th St, Las Vegas, NV 89101
      View Details
    • Value Estimation
      $510,000
      84,000 SF

      300 Clark Ave

      PARKING GARAGE, PARKING STRUCTURE • 84,000 SF
      300 Clark Ave, Las Vegas, NV 89101
      View Details
    • Value Estimation
      $14,050,000
      49,861 SF

      411 Bonneville Ave Ste, Unit 450

      PARKING GARAGE, PARKING STRUCTURE • 49,861 SF
      411 Bonneville Ave Ste, Las Vegas, NV 89101-6614
      View Details

    Similar Nearby for Sale

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    • $1,450,000
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      Fremont Street Restaurant - $1.45M

      East Fremont retail, redevelopment opportunity.
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    • $1,699,999
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      Prime Fremont Street Retail Space

      High-Visibility Storefront, Excellent NOI
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      Retail Property for Sale

      Retail property available for purchase in Las Vegas, Nevada.
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    • $2,200,000
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      Historic Fremont Street Redevelopment Opportunity

      Redevelopment opportunity with high visibility on Fremont Street.
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    • $680,000

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      Retail property for sale in Downtown Las Vegas.
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    Similar Nearby for Lease

    • $2 SF/Yr
      8,760 SF

      Downtown Las Vegas Landmark Office

      Class A office building in downtown Las Vegas.
      300 S 4Th St, Las Vegas, NV 89101
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    • $6,250 /Mo

      Downtown Parking or Retail Opportunity

      Prime downtown location near Arts District and Gamblers General Store.
      721 S Main St, Las Vegas, NV 89101
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    • $4,000 /Mo
      2,000 SF

      Downtown Auto Sales Lot

      Double lot zoned C-2 near Fremont Street for rent.
      213 N Maryland Pkwy, Las Vegas, NV 89101
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    • $2 SF/Yr
      1,600 SF

      Retail Space on Maryland Parkway

      Retail space available in high-traffic Las Vegas location.
      4800 Maryland Pkwy, Las Vegas, NV 89101
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    • $48 SF/Yr
      8,586 SF

      Fremont East Retail Space

      Prime Downtown Las Vegas location. 2,000 SF available.
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    • $2 SF/Yr
      2,618 SF

      Remodeled Retail Space on Las Vegas Boulevard

      Turn-key retail space suitable for various business concepts.
      511 Las Vegas Blvd S, Las Vegas, NV 89101
      View Details
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    450 Fremont St
    Las Vegas, NV 89101-5623
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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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