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Property profile & analytics
FOR LEASE
Outlet malls
7020 North 5Th St North Las Vegas, NV 89084
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US62-1207432
For Lease
1 / 2
$24,940,000
7020 North 5Th St, North Las Vegas, NV 89084
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
64,914 SF
Lot
15.57 ac (678,229 SF)
APN
124-23-110-006
UPID
US62-1207432
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
-
Burlington Clothing Store Baby Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$24.94M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.21M
Blend (final)
Blend
$24.94M
Owner & transaction history
Prdo Retail Investors LP · 1 yrs held
Prdo Retail Investors LP
since 2024
Last sale
$24.9M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$29.2M
+119.6%
Auto repair, garage
$26.6M
+100.0%
Office building
$21.0M
+58.1%
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 North Las Vegas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
$24,940,000
ML approach
$24,940,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$29,155,000
Change: +120% · Conversion: Moderate
AUTO REPAIR, GARAGE
$26,560,000
Change: +100% · Conversion: Difficult
OFFICE BUILDING
$21,000,000
Change: +58% · Conversion: Easy
MEDICAL BUILDING
$18,750,000
Change: +41% · Conversion: Difficult
Blend value · Realmo final
$24.94M
Range $22.45M – $27.43M · ±10% · vs last sale $24.94M (Dec 18 2024)
Last sale anchor
$24.94M
Dec 18 2024
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
$384 / 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
$208,289
Tax year 2023
Assessed value
$7,745,171
Assessed 2024
Previous assessed
$6,916,892
+12.0% YoY
Effective rate
2.69%
On assessed value
Assessed land
$2,967,252
Assessed improvement
$4,777,919
Land market value
$8,477,863
Improvement market value
$13,651,197
Total market value
$22,129,060
Applied tax rate
254.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Lease
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Buildings
6
Stories
1
Total area
64,914 SF
Lot
15.57 ac (678,229 SF)
APN
124-23-110-006
UPID
US62-1207432
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
Est. value
$29.2M
AUTO REPAIR, GARAGE
Est. value
$26.6M
OFFICE BUILDING
Est. value
$21.0M
MEDICAL BUILDING
Est. value
$18.8M
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL 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
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Stories
1
Buildings
6
Lot
15.57 ac
Current owner
From public records · entity-resolved
Prdo Retail Investors LP
Entity
Mailing address
6140 BRENT THURMAN WAY #140, LAS VEGAS, NV 89148-5016
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2024
$24,937,500
Prdo Retail Investors LP
6980 North 5th Street Holdings LLC
Bargain & Sale Deed
$16,500,000 · Wells Fargo Bank NA
Mar 15, 2023
$7,650,000
6980 North 5th Street Holdings LLC
Dsvegas II LLC
Trustees Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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