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Property profile & analytics
OFF-MARKET
Estimated value
$41,800,000
Distribution centers
5670 Nicco Way Las Vegas, NV 89115-6751
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US62-0649666
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2014
Construction
STEEL FRAME
Total area
133,585 SF
Lot
28.22 ac (1,229,263 SF)
APN
123-28-801-003
UPID
US62-0649666
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$41.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.10M
Blend (final)
Blend
$41.80M
Owner & transaction history
5670 Nicco Way Owner LP · 1 yrs held
5670 Nicco Way Owner LP
since 2024
Last sale
$41.8M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$58.0M
+170.4%
Retail stores
$49.9M
+132.9%
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
$41,800,000
ML approach
$41,800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$57,990,000
Change: +170% · Conversion: Moderate
RETAIL STORES
$49,940,000
Change: +133% · Conversion: Moderate
Blend value · Realmo final
$41.80M
Range $37.62M – $45.98M · ±10% · vs last sale $41.80M (Nov 4 2024)
Last sale anchor
$41.80M
Nov 4 2024
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
$325,748
Tax year 2023
Assessed value
$16,102,407
Assessed 2024
Previous assessed
$16,102,407
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$8,518,792
Assessed improvement
$7,583,615
Land market value
$24,339,406
Improvement market value
$21,667,471
Total market value
$46,006,877
Applied tax rate
254.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2014
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Stories
1
Total area
133,585 SF
Lot
28.22 ac (1,229,263 SF)
APN
123-28-801-003
UPID
US62-0649666
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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$58.0M
RETAIL STORES
Est. value
$49.9M
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
2014
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
2
Lot
28.22 ac
Current owner
From public records · entity-resolved
5670 Nicco Way Owner LP
Entity
Free & Clear · 1 yrs held
Mailing address
2300 N FLD ST #1200, DALLAS, TX 75201-2476
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2024
$41,800,000
5670 Nicco Way Owner LP
Lex Las Vegas LP
Special Warranty Deed
—
Jan 26, 2022
—
Lex Las Vegas LP
—
Deed
related
$381,000,000 · Bank Of America NA
Sep 18, 2013
—
Lex Las Vegas LP
Valley Bk Of Nv
Grant Deed
related
—
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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