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

    5020 Broadbent Blvd Las Vegas, NV 89122-8400

    • Strip malls
    • 5,588 SF
    • 1.26 lot acres
    OFF-MARKET
    Value Estimations
    $1,820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0230141
    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

    • Alexander's Pizza / Delivery Restaurant / Pizza Restaurant
    • Primo water / Drinking Water Fountain
    • Texas Market & Liquor / Liquor Store / Convenience Store

    Property Details for 5020 Broadbent Blvd

    Year built
    2006
    Construction
    FRAME
    Lot size
    1.26 lot acres
    Property size
    5,588 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    161-27-502-002
    APU
    16127502002

    Description

    This exceptional retail opportunity is located at 5020 S Broadbent Blvd, Las Vegas, NV 89122, situated on a prominent corner lot at the intersection of Tropicana Avenue and Broadbent Boulevard. The property, known as Cherry Plaza, offers a total of 2,400 square feet of retail space within a single-story building constructed in 2006. Currently, there is approximately 1,200 square feet available for lease, with a minimum leasable space of 1,200 square feet. The property sits on 1.26 acres of land (APN: 161-27-502-002) and is zoned C-2. The building features two suites in total. The landlord will deliver the space in vanilla shell condition, ready for tenant improvements, including a drop ceiling, air conditioning, and a bathroom. This prime location is surrounded by numerous single-family homes, ensuring a strong customer base. Nearby businesses include Texas Liquor, Alexandre Pizza, and Apache Joe's Bar & Grill. Long-term leases are preferred. Please note that smoke shops are not permitted due to existing tenant agreements. This space is ideal for a variety of uses, including hair and nail salons, pet grooming businesses, fitness centers, or general office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,255,000
      6.5%
      $2,080,000
      7%
      $1,930,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,425,000
      Current use
      RETAIL STORES
      $2,090,000
      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
    -115.03
    Latitude
    36.0974
    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
    $15,438
    $134,471
    $481,933
    $616,404
    -
    $384,203
    $1,376,951
    $1,761,154

    Comparable in this City

    • Value Estimation
      $5,290,000
      15,480 SF

      6490 Boulder Hwy

      SHOPPING CENTER, STRIP CENTER • 15,480 SF
      6490 Boulder Hwy, Las Vegas, NV 89122-7450
      View Details
    • Value Estimation
      $8,670,000
      7,700 SF

      5040 Boulder Hwy

      SHOPPING CENTER, STRIP CENTER • 7,700 SF
      5040 Boulder Hwy, Las Vegas, NV 89122-6065
      View Details
    • Value Estimation
      $1,375,000
      4,500 SF

      5030 Tropicana Ave

      SHOPPING CENTER, STRIP CENTER • 4,500 SF
      5030 Tropicana Ave, Las Vegas, NV 89122-6750
      View Details
    • Value Estimation
      $3,650,000
      16,638 SF

      5020 Tropicana Ave

      SHOPPING CENTER, STRIP CENTER • 16,638 SF
      5020 Tropicana Ave, Las Vegas, NV 89122-6747
      View Details
    • Value Estimation
      $885,000
      4,800 SF

      6060 Boulder Hwy

      SHOPPING CENTER, STRIP CENTER • 4,800 SF
      6060 Boulder Hwy, Las Vegas, NV 89122-7452
      View Details
    • Value Estimation
      $5,225,000
      19,334 SF

      5230 Boulder Hwy

      SHOPPING CENTER, STRIP CENTER • 19,334 SF
      5230 Boulder Hwy, Las Vegas, NV 89122-6076
      View Details

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    Similar Nearby for Lease

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      View Details
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    Las Vegas, NV 89122-8400
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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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