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Property profile & analytics
OFF-MARKET
Estimated value
$5,780,000
Outlet malls
4900 Tropicana Ave Las Vegas, NV 89121-6729
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US62-0346091
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
38,640 SF
Lot
5.88 ac (256,133 SF)
APN
161-20-801-007
UPID
US62-0346091
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.20M
CAP Approach
CAP
$8.00M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.78M
Owner & transaction history
Trop Nellls LLC · 6 yrs held
Trop Nellls LLC
since 2020
Last sale
$5.4M
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
Method
Estimation
Statistic approach
$6,160,000
ML approach
$6,200,000
CAP Approach
CAP Return
Estimation
6%
$8,660,000
6.5%
$7,995,000
7%
$7,425,000
Blend value · Realmo final
$5.78M
Range $5.20M – $6.36M · ±10% · vs last sale $5.38M (Feb 3 2020)
Last sale anchor
$5.38M
Feb 3 2020
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
$150 / 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
$62,161
Tax year 2023
Assessed value
$2,351,153
Assessed 2024
Previous assessed
$2,146,220
+9.5% YoY
Effective rate
2.64%
On assessed value
Assessed land
$806,819
Assessed improvement
$1,544,334
Land market value
$2,305,197
Improvement market value
$4,412,383
Total market value
$6,717,580
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
5
Stories
1
Total area
38,640 SF
Lot
5.88 ac (256,133 SF)
APN
161-20-801-007
UPID
US62-0346091
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
5
Lot
5.88 ac
Current owner
From public records · entity-resolved
Trop Nellls LLC
Entity
Mailing address
4764 PARK GRANADA STE #200, CALABASAS, CA 91302-1572
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 28, 2020
$7,100,000
Trop Nellls LLC
Tropicana Nellis Lllp
Correction Deed
related
—
Feb 28, 2020
—
Trop Nellis LLC
—
Deed
related
$5,200,000 · Wells Fargo Bk
Feb 3, 2020
$5,384,503
Trop Nellis LLC
Altmann Family Trust
Grant Deed
—
Oct 13, 2017
$1,206,533
Altmann Family Trust
Trop Nellis LLC
Grant Deed
—
Oct 13, 2017
—
Altmann Family Trust
—
Deed
related
$4,924,125 · Wells Fargo Bk
May 18, 2017
$7,100,000
Trop Nellis LLC
Tropicana Nells Lllp
Bargain And Sale Deed
—
Sep 11, 2007
—
Tropicana Nellis Lllp
Tropicana Nellis
Quit Claim Deed
related
—
Apr 26, 1994
—
Tropicana
Abrams Trust
Grant Deed
related
—
—
—
Trop Nellis LLC
—
Loan Modification
related
$5,200,000 · Wells Fargo Bk
—
—
Altmann Family Trust
—
Loan Modification
related
$4,924,125 · Wells Fargo Bk
—
—
Tropicana Nellis Lllp
—
Deed Of Trust
related
$2,100,000 · Ohio National Life Ins Co
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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