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Property profile & analytics
OFF-MARKET
Estimated value
$7,360,000
Strip malls
6121 Lk Mead Blvd Ste 130 Las Vegas, NV 89108-2744
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US62-0445172
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2007
Construction
FRAME
Total area
15,000 SF
Lot
1.71 ac (74,488 SF)
APN
138-23-719-009
UPID
US62-0445172
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
$8.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.71M
Blend (final)
Blend
$7.36M
Owner & transaction history
Meng Investment LLC · 5 yrs held
Meng Investment LLC
since 2021
Last sale
$7.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.8M
+66.0%
Commercial (general)
$9.5M
+45.7%
Auto repair, garage
$8.3M
+27.9%
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
$8,080,000
ML approach
$7,995,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$6,510,000
Current use
RESTAURANT
$10,810,000
Change: +66% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,485,000
Change: +46% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,330,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$5,610,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$7.36M
Range $6.62M – $8.10M · ±10% · vs last sale $7.00M (Feb 23 2021)
Last sale anchor
$7.00M
Feb 23 2021
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
$491 / 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
$20,732
Tax year 2023
Assessed value
$678,450
Assessed 2024
Previous assessed
$654,043
+3.7% YoY
Effective rate
3.06%
On assessed value
Assessed land
$221,602
Assessed improvement
$456,848
Land market value
$633,149
Improvement market value
$1,305,280
Total market value
$1,938,429
Applied tax rate
200.0000
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
2007
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
15,000 SF
Lot
1.71 ac (74,488 SF)
APN
138-23-719-009
UPID
US62-0445172
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
$6.5M
RESTAURANT
Est. value
$10.8M
COMMERCIAL (GENERAL)
Est. value
$9.5M
AUTO REPAIR, GARAGE
Est. value
$8.3M
RETAIL STORES
Est. value
$5.6M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2007
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
1.71 ac
Current owner
From public records · entity-resolved
Meng Investment LLC
Entity
Mailing address
868 HVN OAKS PL, LAS VEGAS, NV 89138-4618
Ownership since
2021
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
Feb 23, 2021
$7,000,000
Meng Investment LLC
Brick & Mortar LLC
Bargain And Sale Deed
$3,500,000 · East West Bank
Jun 29, 2020
—
Brick & Mortar LLC
—
Deed
related
$2,535,000 · Meadows Bk
Jun 14, 2019
—
Brick & Mortar LLC
—
Deed Of Trust
related
$2,220,000 · Meadows Bk
Jun 8, 2018
$1,900,100
Brick & Mortar LLC
Diversified Invs Las Vegas LLC
Grant Deed
—
May 20, 2013
$850,000
Diversified Invs Las Vegas LLC
Waw LLC
Grant Deed
—
May 9, 2008
—
Waw Properties LLC
Waw LLC
Quit Claim Deed
related
—
—
—
Brick & Mortar LLC
—
Deed Of Trust
related
$2,220,000 · Meadows Bk
—
—
Brick & Mortar LLC
—
Loan Modification
related
$2,535,000 · Meadows Bk
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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