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Property profile & analytics
OFF-MARKET
Estimated value
$66,030,000
Warehouses
4501 Mitchell St North Las Vegas, NV 89081-2771
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US62-0460193
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1974
Construction
CONCRETE
Total area
131,600 SF
Lot
7.85 ac (341,946 SF)
APN
140-06-210-001
UPID
US62-0460193
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
-
Brady Linen (Bike/Boat/Book/etc) Store
-
Lighthouse Logistics USA Warehouse & Storage
-
Liberty Press Nevada LLC Marketing & Advertising Printing Service
-
Kwh merchandise inc Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$57.45M
Blend (final)
Blend
$66.03M
Owner & transaction history
Ulf Nellis Industrial LLC · 4 yrs held
Ulf Nellis Industrial LLC
since 2022
Last sale
$73.3M
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 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
$60,025,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$98,590,000
Current use
Blend value · Realmo final
$66.03M
Range $59.43M – $72.63M · ±10% · vs last sale $73.32M (Apr 28 2022)
Last sale anchor
$73.32M
Apr 28 2022
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
$502 / 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
$77,537
Tax year 2023
Assessed value
$2,837,860
Assessed 2024
Previous assessed
$2,687,576
+5.6% YoY
Effective rate
2.73%
On assessed value
Assessed land
$1,496,014
Assessed improvement
$1,341,846
Land market value
$4,274,326
Improvement market value
$3,833,846
Total market value
$8,108,172
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1974
Construction
CONCRETE
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
131,600 SF
Lot
7.85 ac (341,946 SF)
APN
140-06-210-001
UPID
US62-0460193
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
WAREHOUSE, STORAGE Current
Est. value
$98.6M
WAREHOUSE, STORAGE Current
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
1974
Construction
CONCRETE
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
7.85 ac
Current owner
From public records · entity-resolved
Ulf Nellis Industrial LLC
Entity
Mailing address
14241 DALLAS PKWY STE #650, DALLAS, TX 75254-2953
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2025
—
Ulf Nellis Industrial LLC
—
Deed
related
$320,000,000 · Wells Fargo Bank NA
Apr 28, 2022
—
Ulf Nellis Industrial LLC
Icon Pac Nevada Owner Pool 3 Nevada
Intrafamily Transfer
related
—
Oct 4, 2019
—
Icon Pac Nevada Owner Pool 3 N
—
Grant Deed
related
—
May 20, 2015
—
Icon Pac Nevada Owner Pool 3
Bre Of Pac Nevada LLC
Trustees Deed
related
$411,000,000 · Stanley Bk
Jul 3, 2012
$73,322,528
Par Industrial LLC
Prologis Na3 LLC
Deed In Lieu Of Foreclosure
—
Jul 20, 2007
—
Prologis Na3 LLC
Dp Industrial LLC
Grant Deed
—
Jan 12, 1990
$1,200,000
Properties Dermody
Unknown
Grant Deed
—
—
—
Bre Of Pac Nevada LLC
—
Deed Of Trust
related
$460,000,000 · Citibank NA
—
—
Perry Tucker
—
Deed Of Trust
related
$85,000 · Stafford Nevada LP
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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