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Property profile & analytics
OFF-MARKET
Estimated value
$6,040,000
Medical Office Space
6970 Patrick Ln Las Vegas, NV 89113-0269
Entity Owned
Absentee Owner
Free & Clear
Property ID
US62-0523964
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
FRAME
Total area
24,952 SF
Lot
1.99 ac (86,684 SF)
APN
163-34-601-044
UPID
US62-0523964
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
-
Globe Life Liberty National Division - Morgan Agencies Insurance Agency
-
Glabster Garage Door Repair Building Supply General Contractor
-
Nevada Kidney Disease & Hypertension Centers (NKDHC) Medical Clinic
-
Arora Mandip S MD Physician
-
Thomas Land Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.09M
Comparable Approach
Comparable
$6.02M
Blend (final)
Blend
$6.04M
Owner & transaction history
Shen Enterprise LLC
Shen Enterprise LLC
since 2025
Last sale
$6.5M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$9.3M
+35.8%
Office building
$8.8M
+28.5%
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%
$5,510,000
6.5%
$5,085,000
7%
$4,720,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,865,000
Current use
RETAIL STORES
$9,330,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$8,820,000
Change: +28% · Conversion: Easy
Blend value · Realmo final
$6.04M
Range $5.44M – $6.64M · ±10% · vs last sale $6.53M (Dec 5 2025)
Last sale anchor
$6.53M
Dec 5 2025
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
$242 / 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
$29,585
Tax year 2023
Assessed value
$1,912,884
Assessed 2024
Previous assessed
$1,727,367
+10.7% YoY
Effective rate
1.55%
On assessed value
Assessed land
$398,053
Assessed improvement
$1,514,831
Land market value
$1,137,294
Improvement market value
$4,328,089
Total market value
$5,465,383
Applied tax rate
417.0000
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
2007
Construction
FRAME
Heating
YES
Stories
2
Total area
24,952 SF
Lot
1.99 ac (86,684 SF)
APN
163-34-601-044
UPID
US62-0523964
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
MEDICAL BUILDING Current
Est. value
$6.9M
RETAIL STORES
Est. value
$9.3M
OFFICE BUILDING
Est. value
$8.8M
MEDICAL BUILDING Current
RETAIL STORES
OFFICE BUILDING
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
Stories
2
Lot
1.99 ac
Current owner
From public records · entity-resolved
Shen Enterprise LLC
Entity
Free & Clear · 0 yrs held
Mailing address
32 S LA SENDA DR, LAGUNA BEACH, CA 92651-6733
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2025
$6,525,000
Shen Enterprise LLC
Wh Properties LLC
Bargain & Sale 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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