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Property profile & analytics
OFF-MARKET
Estimated value
$8,670,000
Strip malls
5040 Boulder Hwy, Las Vegas, NV 89122-6065
Entity Owned
5-yr Hold
Free & Clear
Property ID
US62-0554651
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2008
Construction
FRAME
Total area
7,700 SF
Lot
0.82 ac (35,719 SF)
APN
161-21-116-003
UPID
US62-0554651
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
-
Thrifty Grocery & Convenience Store Specialty Food Shop
-
Phở T. Restaurant
-
Dotty's Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.67M
Owner & transaction history
Nelle Spe LLC · 5 yrs held
Nelle Spe LLC
since 2021
Last sale
$8.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.6M
+66.0%
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
$9,235,000
ML approach
$9,455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$5,550,000
Change: +66% · Conversion: Difficult
Blend value · Realmo final
$8.67M
Range $7.80M – $9.54M · ±10% · vs last sale $8.00M (Jul 2 2021)
Last sale anchor
$8.00M
Jul 2 2021
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
$1,126 / 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
$10,804
Tax year 2023
Assessed value
$379,654
Assessed 2024
Previous assessed
$368,276
+3.1% YoY
Effective rate
2.85%
On assessed value
Assessed land
$125,017
Assessed improvement
$254,637
Land market value
$357,191
Improvement market value
$727,534
Total market value
$1,084,725
Applied tax rate
340.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2008
Construction
FRAME
Heating
YES
Stories
1
Total area
7,700 SF
Lot
0.82 ac (35,719 SF)
APN
161-21-116-003
UPID
US62-0554651
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
RESTAURANT
Est. value
$5.6M
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
2008
Construction
FRAME
Heating
YES
Stories
1
Lot
0.82 ac
Current owner
From public records · entity-resolved
Nelle Spe LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1234 E 17TH ST, SANTA ANA, CA 92701-2612
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2021
—
Nelle Spe LLC
Boulder At Nellis LLC
Intrafamily Transfer
related
—
Jul 2, 2019
—
Boulder At Nellis LLC
—
Deed
related
$550,000 · Farmers & Merchants Bk/lng Bch
Jan 17, 2013
—
Boulder At Nellis LLC
International Bk Of Commerce
Grant Deed
related
—
Jan 9, 2013
—
Boulder At Nellis LLC
International Bk Of Commerce
Grant Deed
related
—
Dec 19, 2012
$8,000,000
Boulder At Nellis LLC
International Bk Of Commerce
Grant Deed
—
May 31, 2012
—
International Bk Of Commerce
Boulder Crossroads LLC
Trustees Deed
related
—
Feb 16, 2012
$1,627,000
International Bk Of Commerce
Boulder Crossroads LLC
Deed In Lieu Of Foreclosure
related
—
—
—
Boulder At Nellis LLC
—
Deed Of Trust
related
$5,400,000 · Farmers & Merchants Bk Lng Bch
—
—
Boulder At Nellis LLC
—
Deed Of Trust
related
$550,000 · Farmers & Merchants Bk/lng Bch
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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