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

    5835 Eastern Ave Las Vegas, NV 89119-3030

    • Strip malls
    • 15,744 SF
    • 2.00 lot acres
    OFF-MARKET
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0442015
    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

    • PremierX 4Free / Pharmacy
    • revitapel / Medical Clinic
    • WW Studio McCarran Marketplace / Weight Loss Service / Wellness Center
    • Partell Pharmacy / Pharmacy

    Property Details for 5835 Eastern Ave

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.00 lot acres
    Property size
    15,744 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    162-35-513-006
    APU
    16235513006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $565,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $666,000
      Market price range: $451k - $886k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.119
    Latitude
    36.0839
    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
    $22,100
    $350,658
    $458,336
    $808,994
    -
    $1,001,880
    $1,309,531
    $2,311,411

    Comparable in this City

    • Value Estimation
      $385,000
      20,055 SF

      3999 Las Vegas S Blvd

      SHOPPING CENTER, STRIP CENTER • 20,055 SF
      3999 Las Vegas S Blvd, Las Vegas, NV 89119-1001
      View Details
    • Value Estimation
      $670,000
      13,200 SF

      670 Flamingo Rd

      SHOPPING CENTER, STRIP CENTER • 13,200 SF
      670 Flamingo Rd, Las Vegas, NV 89119-7307
      View Details
    • Value Estimation
      $4,205,000
      14,268 SF

      5025 Eastern Ave

      SHOPPING CENTER, STRIP CENTER • 14,268 SF
      5025 Eastern Ave, Las Vegas, NV 89119-2318
      View Details
    • Value Estimation
      $760,000
      43,349 SF

      1775 Tropicana Ave

      SHOPPING CENTER, STRIP CENTER • 43,349 SF
      1775 Tropicana Ave, Las Vegas, NV 89119-6529
      View Details
    • Value Estimation
      $230,000
      0.70 Acres

      Las Vegas, NV 89119

      SHOPPING CENTER, STRIP CENTER • 0.70 Acres
      Las Vegas, NV 89119
      View Details
    • Value Estimation
      $865,000
      23,895 SF

      7211 Eastern Ave

      SHOPPING CENTER, STRIP CENTER • 23,895 SF
      7211 Eastern Ave, Las Vegas, NV 89119-4574
      View Details

    Similar Nearby for Sale

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      Retail property available for sale in Las Vegas, Nevada.
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      Las Vegas Office Building For Sale

      Office building with 10,497 square feet of space available.
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      Large warehouse property near the airport and local amenities.
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    Similar Nearby for Lease

    • $0.85 SF/Yr
      1,559 SF

      Las Vegas Retail Space Available

      Retail spaces available with high traffic intersection in Las Vegas.
      2250 E Tropicana Ave, Las Vegas, NV 89119
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    • Contact for pricing
      25,680 SF

      Former CVS Space For Lease

      25,860 SF retail space in a busy Las Vegas strip mall.
      1300-1370 E Flamingo Rd, Las Vegas, NV 89119
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    • Contact for pricing
      233,412 SF

      Renovated Retail Space in Las Vegas

      Retail spaces available in renovated shopping center near UNLV.
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    • $33 SF/Yr
      7,098 SF

      Palm Court Restaurant Space

      Las Vegas Restaurant - 2,008 SF Available
      6883 Eastern Ave, Las Vegas, NV 89119
      View Details
    • Contact for pricing
      560,000 SF

      McCarran Marketplace Retail Center

      Las Vegas retail center, 8 spaces available
      5715-6035 Eastern Ave, Las Vegas, NV 89119
      View Details
    • $0.85 SF/Yr
      15,525 SF

      Retail Space Available For Rent

      Retail spaces available, ranging from 1,203 to 60,128 square feet.
      2340 E Tropicana Ave, Las Vegas, NV 89119
      View Details
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    5835 Eastern Ave
    Las Vegas, NV 89119-3030
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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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