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

    4500 Tropicana Ave Las Vegas, NV 89121-6705

    • Grocery and convenience stores
    • 42,576 SF
    • 2.72 lot acres
    OFF-MARKET
    Last Sale
    Oct 09, 2024
    $11,250,000
    Value Estimations
    $11,250,000
    Show details
    Cap Rate Potential
    5.1%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US62-0358758
    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

    • Gift Shop / (Bike/Boat/Book/etc) Store
    • Bourbon Street Cabaret / Bar & Pub / Nightclub
    • Cinemark Century Orleans 18 and XD / Cinema / Theater & Performing Art Venue
    • Rocky Mountain Chocolate Factory at Orleans Hotel & Casino / Specialty Food Shop / Candy Store
    • Orleans / Atm

    Property Details for 4500 Tropicana Ave

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.72 lot acres
    Property size
    42,576 SF
    Property type
    Grocery and convenience stores
    APN
    161-20-414-002
    APU
    16120414002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,250,000
      ML approach
      $11,250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,545,000
      6.5%
      $8,810,000
      7%
      $8,180,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,804,000
      Market price range: $8.12M - $26.5M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $15,915,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $18,485,000
      Change: +16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.075
    Latitude
    36.1009
    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
    $29,994
    $331,752
    $807,019
    $1,138,771
    -
    $947,863
    $2,305,769
    $3,253,632

    Comparable in this City

    • Value Estimation
      $2,175,000
      4,312 SF

      3820 Desert Inn Rd

      CONVENIENCE STORE • 4,312 SF
      3820 Desert Inn Rd, Las Vegas, NV 89121
      View Details
    • Value Estimation
      $4,085,000
      30,176 SF

      3736 Desert Inn Rd

      GROCERY, SUPERMARKET • 30,176 SF
      3736 Desert Inn Rd, Las Vegas, NV 89121-3339
      View Details
    • Value Estimation by Request
      2,497 SF

      3710 Nellis Blvd

      CONVENIENCE STORE • 2,497 SF
      3710 Nellis Blvd, Las Vegas, NV 89121-3112
      View Details
    • Value Estimation by Request
      3,136 SF

      3711 Flamingo Rd

      CONVENIENCE STORE • 3,136 SF
      3711 Flamingo Rd, Las Vegas, NV 89121-4903
      View Details
    • Value Estimation
      $12,235,000
      57,869 SF

      2885 Desert Inn Rd

      GROCERY, SUPERMARKET • 57,869 SF
      2885 Desert Inn Rd, Las Vegas, NV 89121-3603
      View Details
    • Value Estimation
      $655,000
      2,080 SF

      4510 Vegas Vly Dr

      CONVENIENCE STORE • 2,080 SF
      4510 Vegas Vly Dr, Las Vegas, NV 89121-1997
      View Details

    Similar Nearby for Sale

    • $2,888,000

      Las Vegas Auto Shop & Store

      Prime Retail Investment: Auto Shop, Convenience Store
      4885 Flamingo Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing
      77,650 SF

      Grocery-Anchored Neighborhood Center For Sale

      77,650 SF shopping center anchored by high-performing Albertsons.
      2959 E Desert Inn Rd, Las Vegas, NV 89121
      View Details
    • $5,250,000
      36 SF

      Retail Property on Flamingo Road

      Retail property in Central East Las Vegas with high traffic.
      3075 E Flamingo Rd, Las Vegas, NV 89121
      View Details
    • $2,180,000
      8,334 SF

      Las Vegas Retail/Office Opportunity

      Versatile commercial property suitable for retail or office uses.
      3085 East Flamingo Rd, Las Vegas, NV 89121
      View Details
    • $10,900,000
      90,732 SF

      Anchored Shopping Center with Value-Add

      90,732 SF shopping center with high traffic and value-add.
      3732-3750 E Flamingo Rd, Las Vegas, NV 89121
      View Details
    • Contact for pricing
      10,000 SF

      Redevelopment Opportunity on Desert Inn

      Stand-alone building redevelopment opportunity with high visibility in Las Vegas.
      4915 E Desert Inn Rd, Las Vegas, NV 89121
      View Details

    Similar Nearby for Lease

    • $1.25 SF/Yr
      114,321 SF

      Prime Retail Space on Tropicana

      High-visibility retail space on a busy Las Vegas corridor.
      2405 E Tropicana Ave, Las Vegas, NV 89121
      View Details
    • Contact for pricing
      1,348 SF

      Las Vegas Retail Space Available

      Retail space for lease in a busy Las Vegas shopping center.
      3025-3035 E Tropicana Ave, Las Vegas, NV 89121
      View Details
    • Contact for pricing
      20,470 SF

      Desert Inn Road Retail Spaces

      Las Vegas retail & office space available.
      3160 Desert Inn Rd, Las Vegas, NV 89121
      View Details
    • $2 SF/Yr
      1,650 SF

      Retail Space For Lease

      Retail space available for lease.
      4920-4948 E Tropicana Ave, Las Vegas, NV 89121
      View Details
    • Contact for pricing
      1,554 SF

      Retail Space Near Mariana's Supermarket

      Retail opportunity near Mariana’s Supermarket, Flamingo Rd. & Pecos Rd.
      3310 E Flamingo Rd, Las Vegas, NV 89121
      View Details
    • $1.25 SF/Yr
      1,969 SF

      Retail Space on Tropicana Avenue

      Retail space available for lease on Tropicana Avenue.
      3430 E Tropicana Ave, Las Vegas, NV 89121
      View Details
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    4500 Tropicana Ave
    Las Vegas, NV 89121-6705
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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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