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

    6001 Cheyenne Ave Las Vegas, NV 89108-4205

    • Drug stores
    • 15,022 SF
    • 1.62 lot acres
    OFF-MARKET
    Last Sale
    Feb 18, 2021
    $5,782,000
    Value Estimations
    $6,230,000
    Show details
    Cap Rate Potential
    2.6%
    Drug stores
    Location Intelligence
    Property ID
    US62-0176365
    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

    • COVID-19 Drive-thru Testing at Walgreens / Pharmacy
    • Redbox / Movie Rental Kiosk / Dvd Store
    • FedEx OnSite / Mailing Service
    • Walgreens Pharmacy / Pharmacy
    • Johnny Chan / Pharmacy

    Property Details for 6001 Cheyenne Ave

    Year built
    1999
    Construction
    FRAME
    Lot size
    1.62 lot acres
    Property size
    15,022 SF
    Property type
    Drug stores
    APN
    138-14-501-008
    APU
    13814501008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,675,000
      ML approach
      $6,680,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,615,000
      Current use
      COMMERCIAL (GENERAL)
      $9,500,000
      Change: +69% Conversion: Easy
      AUTO REPAIR, GARAGE
      $8,345,000
      Change: +49% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $6,520,000
      Change: +16% Conversion: Moderate
      OFFICE BUILDING
      $4,550,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.226
    Latitude
    36.2163
    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
    $19,982
    $333,429
    $782,171
    $1,115,600
    -
    $952,654
    $2,234,774
    $3,187,428

    Comparable in this City

    • Value Estimation
      $1,295,000
      12,042 SF

      6391 Lk Mead Blvd

      DRUG STORE, PHARMACY • 12,042 SF
      6391 Lk Mead Blvd, Las Vegas, NV 89108-2646
      View Details
    • Value Estimation
      $1,355,000
      13,777 SF

      1905 Jones Blvd

      DRUG STORE, PHARMACY • 13,777 SF
      1905 Jones Blvd, Las Vegas, NV 89108-0138
      View Details
    • Value Estimation by Request
      0.09 Acres

      2099 Decatur Blvd

      RETAIL STORES (PERSONAL SERVICES) • 0.09 Acres
      2099 Decatur Blvd, Las Vegas, NV 89108
      View Details
    • Value Estimation
      $7,450,000
      52,800 SF

      6000 Cheyenne Ave

      GROCERY, SUPERMARKET • 52,800 SF
      6000 Cheyenne Ave, Las Vegas, NV 89108-4239
      View Details
    • Value Estimation
      $1,750,000
      2,946 SF

      2390 Decatur Blvd

      CONVENIENCE STORE • 2,946 SF
      2390 Decatur Blvd, Las Vegas, NV 89108-2906
      View Details
    • Value Estimation
      $8,330,000
      0.11 Acres

      1411 Jones Blvd

      RETAIL STORES (PERSONAL SERVICES) • 0.11 Acres
      1411 Jones Blvd, Las Vegas, NV 89108-1667
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      45,000 SF

      Prime Medical Office Space For Sale/Lease

      5,070 SF Medical Office in Horne's Plaza
      6660 Vegas Dr, Las Vegas, NV 89108
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    • Contact for pricing
      2,500 SF

      Rainbow Promenade Retail Pad

      Las Vegas retail space, prime location.
      2341 Rainbow Blvd, Las Vegas, NV 89108
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    • $3,700,000
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      Las Vegas Commercial Land & Biz

      1.43-acre commercial lot, turnkey business.
      2499 Jones Blvd, Las Vegas, NV 89108
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    • $4,200,000

      Commercial Land on Jones Boulevard

      1.43 acre commercial land with business included in sale.
      2499 N Jones Blvd, Las Vegas, NV 89108
      View Details
    • $350,000
      0.42 Acres

      Commercial Pad in Las Vegas

      0.42 acre lot with commercial zoning and parking.
      3816 Vegas Dr, Las Vegas, NV 89108
      View Details
    • $4,000,000
      2.58 Acres

      Finished Commercial Pads Near I-95

      Finished commercial lots ready for ground lease or build to suit.
      6802 W Craig Rd, Las Vegas, NV 89108
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,800 SF

      Retail Space on Rainbow Boulevard

      4,800 square feet of retail space available for rent.
      3223 N Rainbow Blvd, Las Vegas, NV 89108
      View Details
    • $1.00 SF/Yr
      15,528 SF

      Visible End Cap Showroom Space

      End cap suite with showroom, offices, and secure storage.
      1701 N Decatur Blvd, Las Vegas, NV 89108
      View Details
    • $3 SF/Yr
      2,892 SF

      Las Vegas Retail Space Available

      Retail space for lease in busy Las Vegas shopping center.
      1251-1291 S Decatur Blvd, Las Vegas, NV 89108
      View Details
    • $3 SF/Yr
      1,188 SF

      Retail Space For Lease

      Retail space available for lease.
      1903-1929 N Decatur Blvd, Las Vegas, NV 89108
      View Details
    • $27 SF/Yr
      10,500 SF

      Las Vegas Retail Space Available

      Retail space available for lease in Las Vegas, Nevada.
      2301-2303 N Rainbow Blvd, Las Vegas, NV 89108
      View Details
    • $15 SF/Yr
      3,650 SF

      Decatur Blvd Retail Spaces Available

      Prime Las Vegas retail spaces, 1,000-1,650 sq ft.
      1920-1960 Decatur Blvd, Las Vegas, NV 89108
      View Details
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    6001 Cheyenne Ave
    Las Vegas, NV 89108-4205
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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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