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    Property profile & analytics

    6698 Sky Pointe Dr Las Vegas, NV 89131-4001

    • Grocery and convenience stores
    • 3,778 SF
    • 0.92 lot acres
    OFF-MARKET
    Value Estimations
    $780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US62-0240655
    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

    • Chevron / Car Wash
    • Phantom Fireworks Stand / Discount Store / Party Supply Store
    • Thrifty ice cream / Grocery & Convenience Store / Specialty Food Shop
    • Pacific Electric Solar Energy / Corporate Office
    • Bitcoin of America ATM / Atm

    Property Details for 6698 Sky Pointe Dr

    Year built
    2000
    Construction
    FRAME
    Lot size
    0.92 lot acres
    Property size
    3,778 SF
    Property type
    Grocery and convenience stores
    APN
    125-21-710-002
    APU
    12521710002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $520,000
      Market price range: $377k - $576k

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.27
    Latitude
    36.2832
    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
    $19,217
    $391,333
    $323,756
    $715,089
    -
    $1,118,094
    $925,017
    $2,043,111

    Comparable in this City

    • Value Estimation
      $8,720,000
      30,420 SF

      8431 Farm Rd Ste, Unit 110

      GROCERY, SUPERMARKET • 30,420 SF
      8431 Farm Rd Ste, Las Vegas, NV 89131-8309
      View Details
    • Value Estimation by Request
      4,600 SF

      7941 Decatur Blvd

      Restaurants • 4,600 SF
      7941 Decatur Blvd, Las Vegas, NV 89131
      View Details
    • Value Estimation
      $715,000
      3,444 SF

      7591 Cimarron Rd, Unit 100

      CONVENIENCE STORE • 3,444 SF
      7591 Cimarron Rd, Las Vegas, NV 89131-8176
      View Details
    • Value Estimation by Request
      2,008 SF

      8490 Farm Rd

      CONVENIENCE STORE • 2,008 SF
      8490 Farm Rd, Las Vegas, NV 89131-8158
      View Details
    • Value Estimation
      $14,235,000
      60,701 SF

      8410 Farm Rd

      GROCERY, SUPERMARKET • 60,701 SF
      8410 Farm Rd, Las Vegas, NV 89131-8158
      View Details
    • Value Estimation by Request
      5,000 SF

      7960 Decatur Blvd

      Restaurants • 5,000 SF
      7960 Decatur Blvd, Las Vegas, NV 89131
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,519 SF

      Freestanding Tavern with Gaming License

      4,519 SF freestanding building with a restricted gaming license.
      8025 Farm Rd, Las Vegas, NV 89131
      View Details
    • $2,580,000
      5.00 Acres

      Las Vegas Equestrian Property

      5 acre equestrian property in active Las Vegas neighborhood.
      5 Acres Horse Dr & Torrey Pne Dr & Guy Ave Dr, Las Vegas, NV 89131
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    • $590,000
      0.96 Acres

      Residential Land in Northwest Las Vegas

      Residential-zoned lot in Northwest Las Vegas near Teton Trails Park.
      5200 Grand Teton Dr, Las Vegas, NV 89131
      View Details
    • $1,290,000
      1.93 Acres

      Equestrian Facility Land Parcel

      1.93 acre equestrian parcel in Las Vegas equestrian neighborhood.
      2 Acres Horse & Torrey Pne, Las Vegas, NV 89131
      View Details
    • Contact for pricing
      13,984 SF

      New Industrial Development For Sale

      Modern industrial development for sale, completion estimated Q3 2024.
      6276 S Buffalo Dr, Las Vegas, NV 89131
      View Details
    • $1,290,000
      1.99 Acres

      Equestrian Facility Land Parcel

      1.99 acre equestrian facility parcel in Las Vegas.
      2 Acres Guy & Torrey Pne, Las Vegas, NV 89131
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,300 SF

      Retail Space in Spring Valley

      Dominant shopping center with high traffic and strong co-tenancy.
      6975 S Rainbow Blvd, Las Vegas, NV 89131
      View Details
    • Contact for pricing
      30,000 SF

      Industrial Space Near Las Vegas Strip

      Multi-tenant industrial building with immediate highway access.
      7055 S Decatur Blvd, Las Vegas, NV 89131
      View Details
    • Contact for pricing
      446 SF

      Northwest Las Vegas Office Space

      Professional office suites available in northwest Las Vegas on Sky Pointe.
      6628 Sky Pointe Dr, Las Vegas, NV 89131
      View Details
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    Las Vegas, NV 89131-4001
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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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