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Property profile & analytics
OFF-MARKET
Estimated value
$181,630,000
Parking lots & garages
6617 Las Vegas S Blvd Las Vegas, NV 89119-3215
Entity Owned
1-yr Hold
Free & Clear
Property ID
US62-0295919
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
156,904 SF
Lot
94.41 ac (4,112,500 SF)
APN
177-05-510-002
UPID
US62-0295919
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
-
PopStroke Restaurant
-
Valerie Smith-Realtor®: eXp Realty Las Vegas NV Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$187.53M
Blend (final)
Blend
$181.63M
Owner & transaction history
Shake Shack Nevada LLC · 1 yrs held
Shake Shack Nevada LLC
since 2025
3 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$139,870,000
Current use
RESTAURANT
$113,080,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$181.63M
Range $163.47M – $199.79M · ±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
$1,158 / 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
$2,806,332
Tax year 2023
Assessed value
$139,968,734
Assessed 2024
Previous assessed
$125,982,869
+11.1% YoY
Effective rate
2.00%
On assessed value
Assessed land
$42,506,729
Assessed improvement
$97,462,005
Land market value
$121,447,797
Improvement market value
$278,462,871
Total market value
$399,910,668
Applied tax rate
635.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Buildings
36
Stories
2
Total area
156,904 SF
Lot
94.41 ac (4,112,500 SF)
APN
177-05-510-002
UPID
US62-0295919
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
PARKING LOT Current
Est. value
$139.9M
RESTAURANT
Est. value
$113.1M
PARKING LOT Current
RESTAURANT
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
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Stories
2
Buildings
36
Lot
94.41 ac
Current owner
From public records · entity-resolved
Shake Shack Nevada LLC
Entity
Free & Clear · 1 yrs held
Mailing address
4255 DEAN MARTIN DR STE J, LAS VEGAS, NV 89103-4161
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2025
—
Shake Shack Nevada LLC
Srmf Town Square Owner LLC
Deed
—
Sep 5, 2023
—
E L Heritage Inn Of Las Vegas LLC
Srmf Town Square Owner LLC
Lease
$20,243,478 · Bank Forward
Jan 27, 2017
—
Srmf Town Square Owner LLC
Tslv LLC
Grant Deed
related
$215,600,000 · Miscellaneous Ins Co
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.
Try Rey
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