Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5009 Tropicana Ave Las Vegas, NV 89122-6741

    • Grocery and convenience stores
    • 2,400 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    $745,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0255229
    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

    • Amazon Locker - Niem / Courier Service / Postal Service
    • 7-Eleven / Grocery & Convenience Store
    • ATM (7-Eleven) / Atm

    Property Details for 5009 Tropicana Ave

    Year built
    1983
    Construction
    FRAME
    Lot size
    0.55 lot acres
    Property size
    2,400 SF
    Property type
    Grocery and convenience stores
    APN
    161-28-101-001
    APU
    16128101001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $970,000
      6.5%
      $895,000
      7%
      $830,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,040,000
      Current use
      RETAIL STORES
      $895,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.063
    Latitude
    36.0999
    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
    $6,374
    $83,853
    $150,986
    $234,839
    -
    $239,580
    $431,389
    $670,969

    Comparable in this City

    • Value Estimation
      $1,825,000
      2,035 SF

      5556 Boulder Hwy

      CONVENIENCE STORE • 2,035 SF
      5556 Boulder Hwy, Las Vegas, NV 89122-6010
      View Details
    • Value Estimation
      $1,915,000
      6,708 SF

      5660 Boulder Hwy

      CONVENIENCE STORE • 6,708 SF
      5660 Boulder Hwy, Las Vegas, NV 89122-7202
      View Details
    • Value Estimation
      $860,000
      2,914 SF

      5485 Tropicana Ave

      CONVENIENCE STORE • 2,914 SF
      5485 Tropicana Ave, Las Vegas, NV 89122-6738
      View Details
    • Value Estimation
      $11,675,000
      55,494 SF

      5500 Boulder Hwy

      GROCERY, SUPERMARKET • 55,494 SF
      5500 Boulder Hwy, Las Vegas, NV 89122-6010
      View Details
    • Value Estimation
      $730,000
      2,400 SF

      5808 Boulder Hwy

      CONVENIENCE STORE • 2,400 SF
      5808 Boulder Hwy, Las Vegas, NV 89122-7703
      View Details
    • Value Estimation
      $2,100,000
      2,800 SF

      5010 Tropicana Ave

      CONVENIENCE STORE • 2,800 SF
      5010 Tropicana Ave, Las Vegas, NV 89122-6740
      View Details

    Similar Nearby for Sale

    • $799,000
      0.23 Acres

      Boulder Highway Commercial Land Parcel

      10,000 SF parcel on Boulder Highway for automotive/retail use.
      5972 Boulder Hwy, Las Vegas, NV 89122
      View Details
    • Contact for pricing
      20,250 SF

      Boulder Highway Industrial/Retail Project

      Multi-tenant industrial and retail project with office/warehouse units for sale.
      6672 Boulder Hwy, Las Vegas, NV 89122
      View Details
    • $10,035,000

      Entitled Senior Living Multifamily Land

      Approved 279-unit multifamily project for senior living.
      6101 Emerald Ave, Las Vegas, NV 89122
      View Details
    • $279,900
      1,218 SF

      Move-In Ready Townhouse with Amenities

      Gated community townhouse featuring new upgrades and convenient location.
      4847 Double Down Dr, Las Vegas, NV 89122
      View Details
    • $264,500
      1,720 SF

      Renovated Home on Corner Lot

      Fully renovated home with open floor plan and modern upgrades.
      3393 Katmai Dr, Las Vegas, NV 89122
      View Details
    • $264,500
      1,704 SF

      Renovated Home with Modern Finishes

      Fully renovated home featuring modern kitchen, bathrooms, and open floorplan.
      3095 La Barca Ln, Las Vegas, NV 89122
      View Details

    Similar Nearby for Lease

    • $1.95 SF/Yr
      972 SF

      Retail Space on Boulder Highway

      Retail space available with ample parking and street visibility.
      6510 Boulder Hwy, Las Vegas, NV 89122
      View Details
    • Contact for pricing
      1,465 SF

      Retail Space on Boulder Highway

      Retail space available for lease on Boulder Highway.
      5436-5516 Boulder Hwy, Las Vegas, NV 89122
      View Details
    • Contact for pricing
      2,765 SF

      Boulder Crossing Retail Spaces

      High-traffic retail spaces available now
      5486 Boulder Hwy, Las Vegas, NV 89122
      View Details
    • Contact for pricing
      1,710 SF

      Turnkey Salon Space on Tropicana

      Retail space with FF&E included on Tropicana Avenue.
      5725 E Tropicana Ave, Las Vegas, NV 89122
      View Details
    • $1.95 SF/Yr
      1,040 SF

      Retail Space in Boulder Marketplace

      Retail space available in well-developed shopping center with ample parking.
      6325 Boulder Hwy, Las Vegas, NV 89122
      View Details
    • Contact for pricing
      1,710 SF

      Tropicana Retail Center Investment

      Las Vegas Retail Space, High Visibility
      5705-5725 Tropicana Ave, Las Vegas, NV 89122
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5009 Tropicana Ave
    Las Vegas, NV 89122-6741
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.