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Property profile & analytics
OFF-MARKET
Estimated value
$3,000,000
Strip malls
5940 Flamingo Rd Las Vegas, NV 89103-0109
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US62-0030481
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Construction
FRAME
Total area
9,600 SF
Lot
1.76 ac (76,666 SF)
APN
163-13-404-002
UPID
US62-0030481
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
-
Zen Leaf - Flamingo (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.57M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.00M
Owner & transaction history
Polis Brothers LLC · 19 yrs held
Polis Brothers LLC
since 2007
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,870,000
6.5%
$3,570,000
7%
$3,315,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$4,165,000
Current use
RETAIL STORES
$3,590,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$3.00M
Range $2.70M – $3.30M · ±10%
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
$25,942
Tax year 2023
Assessed value
$1,039,891
Assessed 2024
Previous assessed
$935,230
+11.2% YoY
Effective rate
2.49%
On assessed value
Assessed land
$436,038
Assessed improvement
$603,853
Land market value
$1,245,823
Improvement market value
$1,725,294
Total market value
$2,971,117
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1988
Construction
FRAME
Heating
YES
Buildings
3
Stories
1
Total area
9,600 SF
Lot
1.76 ac (76,666 SF)
APN
163-13-404-002
UPID
US62-0030481
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 Current
Est. value
$4.2M
RETAIL STORES
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1988
Construction
FRAME
Heating
YES
Stories
1
Buildings
3
Lot
1.76 ac
Current owner
From public records · entity-resolved
Polis Brothers LLC
Entity
Mailing address
PO BOX 500447, SAN DIEGO, CA 92150-0447
Ownership since
2007
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
Apr 14, 2021
—
Polis Brothers LLC
—
Deed
related
$2,000,000 · West Valley National Bank
Oct 27, 2016
—
Polis Brothers LLC
—
Deed
related
$2,200,000 · California Bk&tr
May 21, 2007
$7,345,000
Polis Brothers LLC
Golden Properties I LLC
Grant Deed
—
Jan 28, 2005
$3,900,000
Golden Properties I LLC
Breakthrough Properties LLC
Grant Deed
$2,925,000 · Nevada State Bank
Mar 10, 2000
—
Breakthrough Properties LLC
Breakthrough Properties
Quit Claim Deed
related
$1,665,000 · Imperial Capital Bank
Aug 25, 1989
$2,400,000
Breakthrough Properties
Unknown
Grant Deed
—
—
—
Polis Brothers LLC
—
Deed Of Trust
related
$2,200,000 · California Bk&tr
—
—
Breakthrough Properties LLC
—
Deed Of Trust
related
$2,287,500 · Imperial Capital Bank
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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