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Property profile & analytics
OFF-MARKET
Estimated value
$7,925,000
Medical Office Space
650 Nellis Blvd Las Vegas, NV 89110-5382
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US62-0022023
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Construction
FRAME
Total area
58,477 SF
Lot
3.94 ac (171,626 SF)
APN
140-33-102-002
UPID
US62-0022023
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
-
Noll Francis G MD Physician
-
Southwest Medical Associates Inc: Barber Marcus MD Physician
-
Lim Jerome Do Alternative Medicine Practice Physician
-
Dr. Ahmad N. Saab, MD Pediatrician Physician
-
Tania Mathew Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.93M
Owner & transaction history
Nellis-stewart LLC · 11 yrs held
Nellis-stewart LLC
since 2014
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$136 / 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
$91,451
Tax year 2023
Assessed value
$3,333,767
Assessed 2024
Previous assessed
$3,340,233
-0.2% YoY
Effective rate
2.74%
On assessed value
Assessed land
$540,622
Assessed improvement
$2,793,145
Land market value
$1,544,634
Improvement market value
$7,980,414
Total market value
$9,525,048
Applied tax rate
340.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1999
Construction
FRAME
Heating
HEAT PUMP
Stories
2
Units
1
Total area
58,477 SF
Lot
3.94 ac (171,626 SF)
APN
140-33-102-002
UPID
US62-0022023
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
Building & site characteristics
From public records
Year built
1999
Construction
FRAME
Heating
HEAT PUMP
Stories
2
Units
1
Lot
3.94 ac
Current owner
From public records · entity-resolved
Nellis-stewart LLC
Entity
Mailing address
1901 LAS VEGAS BLVD S #101, LAS VEGAS, NV 89104-1304
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2014
$14,600,000
Nellis-stewart LLC
High Valley II LLC
Grant Deed
$9,940,000 · Wells Fargo 2005-cibc13 (ce)
Sep 9, 2005
$14,150,000
High Valley II LLC
Larry J Willard
Bargain And Sale Deed
$9,940,000 · Jpmorgan Chase Bank NA
Aug 30, 2001
$9,700,000
Ljw Enterprises INC
Cpsiem LLC
Grant Deed
$6,950,000 · General Electric Capital Busin
Dec 28, 2000
$8,533,000
Cpsiem LLC
Sierra Health Services INC
Grant Deed
$25,000,000 · Heller Healthcare Finance INC
Dec 18, 2000
—
Sierra Health Services INC
—
Deed Of Trust
related
$185,000,000 · Bank Of America NA Trustee
Feb 19, 1997
$1,922,500
Sierra Health Service INC
Mckenzie,ew & Genevieve
Grant Deed
—
Jul 31, 1996
$1,937,000
Housing Authority Clark County
Mckenzie,e W & Genevieve
Grant Deed
—
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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