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

    5020 Tropicana Ave Las Vegas, NV 89122-6747

    • Strip malls
    • 16,638 SF
    • 1.08 lot acres
    OFF-MARKET
    Last Sale
    Nov 19, 2021
    $3,300,721
    Value Estimations
    $3,650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0135050
    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

    • La Jerezana / Bank / Credit Union
    • Ocel African Hair Braiding / Hair Salon
    • Sylvia's Beauty Salon / Hair Salon / Nail Salon
    • El Cordobes / Restaurant
    • Black & White Autos / Car Dealership

    Property Details for 5020 Tropicana Ave

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.08 lot acres
    Property size
    16,638 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    161-21-411-064
    APU
    16121411064

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,810,000
      ML approach
      $3,970,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,863,000
      Market price range: $3.72M - $13.1M

    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
    36.1009
    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
    $24,770
    $131,726
    $429,654
    $561,380
    -
    $376,360
    $1,227,583
    $1,603,943

    Comparable in this City

    • Value Estimation
      $3,335,000
      11,231 SF

      5725 Tropicana Ave

      SHOPPING CENTER, STRIP CENTER • 11,231 SF
      5725 Tropicana Ave, Las Vegas, NV 89122-6795
      View Details
    • Value Estimation
      $2,135,000
      10,680 SF

      5060 Boulder Hwy

      SHOPPING CENTER, STRIP CENTER • 10,680 SF
      5060 Boulder Hwy, Las Vegas, NV 89122-6071
      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
      $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

    Similar Nearby for Sale

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      10,000 SF parcel on Boulder Highway for automotive/retail use.
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      Fully renovated home with open floor plan and modern upgrades.
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      Vacant Lot in Established Community

      Build-ready lot with utilities, no HOA, convenient location.
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      20,250 SF

      Boulder Highway Industrial/Retail Project

      Multi-tenant industrial and retail project with office/warehouse units for sale.
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      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

    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
    • $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

      Retail Space in Boulder Village

      Retail development with first generation space and buildable pads.
      6360 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
    • 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
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    Las Vegas, NV 89122-6747
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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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