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Property profile & analytics
OFF-MARKET
Estimated value
$29,085,000
Assisted living facilities
5650 Rainbow Blvd Las Vegas, NV 89118-1808
Entity Owned
Free & Clear
Property ID
US62-0793147
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2015
Construction
FRAME
Total area
92,868 SF
Lot
4.39 ac (191,228 SF)
APN
163-26-413-004
UPID
US62-0793147
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
-
Transitional Care Of Las Vegas Rehabilitation Center Nursing Home
-
Amir Aftab Physician
-
ISRAEL TRACEY MEISTER Marriage Or Relationship Counselor
-
FAROOQ MUNIR SHAIKH Physician
-
Sandstone Spring Valley Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$31.17M
Blend (final)
Blend
$29.09M
Owner & transaction history
5650 Rainbow Boulevard LLC
5650 Rainbow Boulevard LLC
since 2025
Last sale
$27.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$40.3M
+72.8%
Retail stores
$34.7M
+48.8%
Industrial (general)
$29.5M
+26.6%
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
$31,170,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$23,330,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$40,315,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$34,720,000
Change: +49% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$29,545,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$29.09M
Range $26.18M – $31.99M · ±10% · vs last sale $27.00M (Nov 3 2021)
Last sale anchor
$27.00M
Nov 3 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
$313 / 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
$229,013
Tax year 2023
Assessed value
$8,677,057
Assessed 2024
Previous assessed
$7,808,566
+11.1% YoY
Effective rate
2.64%
On assessed value
Assessed land
$1,171,272
Assessed improvement
$7,505,785
Land market value
$3,346,491
Improvement market value
$21,445,100
Total market value
$24,791,591
Applied tax rate
417.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2015
Construction
FRAME
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
2
Total area
92,868 SF
Lot
4.39 ac (191,228 SF)
APN
163-26-413-004
UPID
US62-0793147
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$23.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$40.3M
RETAIL STORES
Est. value
$34.7M
INDUSTRIAL (GENERAL)
Est. value
$29.5M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2015
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Lot
4.39 ac
Current owner
From public records · entity-resolved
5650 Rainbow Boulevard LLC
Entity
Free & Clear · 0 yrs held
Mailing address
4655 W CHASE AVE, LINCOLNWOOD, IL 60712-1605
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2025
$52,000,000
5650 Rainbow Boulevard LLC
Rainbow Blvd Property LLC
Bargain & Sale Deed
—
Nov 3, 2021
$27,000,000
Rainbow Blvd Property LLC
5650 South Rainbow Boulevard LLC
Special Warranty Deed
$27,000,000 · Midland States Bank
Oct 1, 2019
$16,000,000
5650 S Rainbow Blvd LLC
Knd Real Estate 48 LLC
Trustees Deed
$44,265,000 · Keybank USA
Mar 28, 2019
$865,624
Siena Xiv Holding LP
Knd Real Estate 48 LLC
Correction Deed
—
Mar 28, 2019
—
Knd Real Estate 48 LLC
Knd Real Estate 48 LLC
Correction Deed
related
$9,400,000 · Psl Austin Lndg LLC
Dec 24, 2018
—
Siena Xv Holding LP
—
Grant Deed
related
$9,400,000 · Psl Austin Lndg LLC
—
—
Siena Xvi Holding LP
—
Deed Of Trust
related
$9,400,000 · Psl Austin Lndg LLC
—
—
Siena Xiv Holding LP
—
Deed Of Trust
related
$9,400,000 · Psl Austin Lndg LLC
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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