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Property profile & analytics
OFF-MARKET
Estimated value
$1,135,215,000
Parking lots & garages
455 Grand Central Pkwy 581 Las Vegas, NV 89106-4552
Entity Owned
7-yr Hold
Free & Clear
Property ID
US62-0817192
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2007
Construction
CONCRETE
Total area
980,677 SF
Lot
19.85 ac (864,666 SF)
APN
139-33-610-031
UPID
US62-0817192
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
-
Modway Furniture & Home Goods Home Decor Store
-
Fem Sales Inc Big Box & Wholesale Store
-
Amini Innovation Corporation Big Box & Wholesale Store Furniture & Home Goods
-
Next Step Big Box & Wholesale Store
-
MDBG - MODA DORA - theBianciGroup Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17B
Blend (final)
Blend
$1.14B
Owner & transaction history
City Of Las Vegas · 7 yrs held
City Of Las Vegas
since 2019
4 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$874,205,000
Current use
RESTAURANT
$706,755,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.14B
Range $1.02B – $1.25B · ±10%
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
$1,158 / 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
$3,792,369
Tax year 2023
Assessed value
$163,193,373
Assessed 2024
Previous assessed
$147,245,957
+10.8% YoY
Effective rate
2.32%
On assessed value
Assessed land
$5,326,343
Assessed improvement
$157,867,030
Land market value
$15,218,123
Improvement market value
$451,048,657
Total market value
$466,266,780
Applied tax rate
203.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2007
Construction
CONCRETE
Heating
NONE
Buildings
3
Stories
6
Units
2
Total area
980,677 SF
Lot
19.85 ac (864,666 SF)
APN
139-33-610-031
UPID
US62-0817192
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
PARKING LOT Current
Est. value
$874.2M
RESTAURANT
Est. value
$706.8M
PARKING LOT Current
RESTAURANT
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
CONCRETE
Heating
NONE
Stories
6
Buildings
3
Units
2
Lot
19.85 ac
Current owner
From public records · entity-resolved
City Of Las Vegas
Entity
Free & Clear · 7 yrs held
Mailing address
475 S GRAND CENTRAL PKWY #1615, LAS VEGAS, NV 89106-4552
Ownership since
2019
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
May 30, 2019
—
Wmcyv Phase 1 Spe LLC
—
Deed
related
—
May 21, 2019
—
City Of Las Vegas
Mcv Phase 3 Spe LLC
Grant Deed
related
—
Apr 15, 2019
—
Wmcv Phase 1 Spe LLC
—
Deed
related
—
—
—
Wmcyv Phase 1 Spe LLC
—
Loan Modification
related
—
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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