Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5915 Rainbow Blvd Las Vegas, NV 89118-2557

    • Medical offices
    • 16,072 SF
    • 1.49 lot acres
    OFF-MARKET
    Last Sale
    Feb 03, 2023
    $5,750,000
    Value Estimations
    $5,550,000
    Show details
    Cap Rate Potential
    3.9%
    Medical offices
    Location Intelligence
    Property ID
    US62-0000626
    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

    • Anthony Valiente / Physician
    • SHOIB MYINT / Ophthalmologist
    • DARRICK WILLIAM NEIBAUR / Ophthalmologist
    • Stonecreek Medical Office / Medical Clinic
    • Kristen Peterson / Marriage Or Relationship Counselor / Medical School

    Property Details for 5915 Rainbow Blvd

    Year built
    2007
    Construction
    FRAME
    Lot size
    1.49 lot acres
    Property size
    16,072 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    163-34-601-042
    APU
    16334601042

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,440,000
      ML approach
      $5,540,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,277,000
      Market price range: $2.93M - $5.92M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,425,000
      Current use
      AUTO REPAIR, GARAGE
      $8,925,000
      Change: +102% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $6,975,000
      Change: +58% Conversion: Difficult
      RETAIL STORES
      $6,010,000
      Change: +36% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $5,115,000
      Change: +16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.244
    Latitude
    36.0811
    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
    $16,039
    $298,039
    $947,684
    $1,245,723
    -
    $851,540
    $2,707,669
    $3,559,209

    Comparable in this City

    • Value Estimation
      $7,875,000
      58,531 SF

      5380 Rainbow Blvd

      MEDICAL BUILDING • 58,531 SF
      5380 Rainbow Blvd, Las Vegas, NV 89118-1877
      View Details
    • Value Estimation
      $9,955,000
      59,560 SF

      5320 Rainbow Blvd

      MEDICAL BUILDING • 59,560 SF
      5320 Rainbow Blvd, Las Vegas, NV 89118-1895
      View Details
    • Value Estimation
      $905,000
      4,773 SF

      5980 Jones Blvd

      MEDICAL BUILDING • 4,773 SF
      5980 Jones Blvd, Las Vegas, NV 89118-2610
      View Details
    • Value Estimation by Request
      20,316 SF

      5815 Rainbow Blvd

      MEDICAL BUILDING • 20,316 SF
      5815 Rainbow Blvd, Las Vegas, NV 89118-2553
      View Details
    • Value Estimation
      $840,000
      4,972 SF

      6020 Jones Blvd

      MEDICAL BUILDING • 4,972 SF
      6020 Jones Blvd, Las Vegas, NV 89118-2619
      View Details
    • Value Estimation
      $625,000
      3,251 SF

      6265 Rainbow Blvd

      MEDICAL BUILDING • 3,251 SF
      6265 Rainbow Blvd, Las Vegas, NV 89118-3205
      View Details

    Similar Nearby for Sale

    • $1,640,000
      4,000 SF

      Las Vegas Office Complex: 6 Units

      Luxury office buildings, prime location.
      5955 Jones Blvd, Las Vegas, NV 89118
      View Details
    • $3,199,500
      8,100 SF

      Las Vegas Office Complex

      New Medical/Office Building, Prime Location
      0 Jones Blvd, Spring Valley, NV 89118
      View Details
    • Contact for pricing
      7,507 SF

      Las Vegas Office Building For Sale

      Office building with in-place tenants and strategic location.
      3440 E Russell Rd, Las Vegas, NV 89118
      View Details
    • $3,288,800
      8,222 SF

      Las Vegas Office Building

      8,222 SF Office, Prime Location
      4580 Post Rd, Las Vegas, NV 89118
      View Details
    • $3,288,800
      8,222 SF

      Single-Tenant Office Building Near Freeway

      Freestanding office building with flexible space and convenient freeway access.
      4580 West Post Rd, Las Vegas, NV 89118
      View Details
    • $320,000
      1,116 SF

      Villa Pacifica Single-Story Home

      Charming 2-bedroom home with community pool, convenient location.
      5240 Island Chain Rd, Las Vegas, NV 89118
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      25,511 SF

      Reno Jones Medical Office Space

      1,819 SF Medical Office Suite Available
      5052 Jones Blvd, Las Vegas, NV 89118
      View Details
    • $24 SF/Yr
      45,438 SF

      Las Vegas Multi-Tenant Retail Center

      High-traffic retail center, excellent visibility
      5693 Jones Blvd, Las Vegas, NV 89118
      View Details
    • Contact for pricing

      Rainbow Square Retail Opportunity

      Retail spaces available across from Spring Valley Hospital on Rainbow Blvd.
      5447 South Rainbow Blvd, Las Vegas, NV 89118
      View Details
    • Contact for pricing
      7,667 SF

      Furnished Office Space Available

      Furnished office space with immediate access to 215 Beltway.
      6385 S Rainbow Blvd, Las Vegas, NV 89118
      View Details
    • $1.35 SF/Yr
      9,749 SF

      Office Space with Strip Views

      Ready-to-occupy office space in a premier business corridor.
      4525 West Reno Ave, Las Vegas, NV 89118
      View Details
    • Contact for pricing
      24,960 SF

      Wynn Road Multi-Tenant Building

      Multi-tenant building with office space and multiple loading doors.
      5845 Wynn Rd, Las Vegas, NV 89118
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5915 Rainbow Blvd
    Las Vegas, NV 89118-2557
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!