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Property profile & analytics
OFF-MARKET
Estimated value
$1,115,000
Grocery and convenience stores
7121 Lk Mead Blvd Las Vegas, NV 89156-1162
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US62-0384346
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1997
Construction
FRAME
Total area
3,012 SF
Lot
1.19 ac (51,836 SF)
APN
140-23-601-004
UPID
US62-0384346
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
-
Shell Gas Station
-
Green Valley Grocery #16 Grocery & Convenience Store
-
ATM (Shell) Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.12M
Owner & transaction history
Parliament Properties LLC · 10 yrs held
Parliament Properties LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.7M
+27.9%
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%
$1,215,000
6.5%
$1,120,000
7%
$1,040,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,310,000
Current use
AUTO REPAIR, GARAGE
$1,675,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$1,125,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.12M
Range $1.00M – $1.23M · ±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
$370 / 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
$10,198
Tax year 2023
Assessed value
$398,593
Assessed 2024
Previous assessed
$362,764
+9.9% YoY
Effective rate
2.56%
On assessed value
Assessed land
$158,748
Assessed improvement
$239,845
Land market value
$453,566
Improvement market value
$685,271
Total market value
$1,138,837
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1997
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Total area
3,012 SF
Lot
1.19 ac (51,836 SF)
APN
140-23-601-004
UPID
US62-0384346
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 Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RETAIL STORES
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1997
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Parliament Properties LLC
Entity
Mailing address
1580 S JONES BLVD, LAS VEGAS, NV 89146-1237
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2019
—
Parliament Props INC
—
Grant Deed
related
$80,000,000 · Umpqua Bk
Dec 5, 2016
—
Parliament Props INC
—
Deed
related
$37,100,000 · Citizens Bk
Apr 4, 2016
—
Parliament Properties LLC
Crawford,richard T
Grant Deed
related
—
Dec 16, 2011
—
Richard T Crawford
—
Deed Of Trust
related
$3,318,977 · Nevada State Bank
Nov 22, 2011
—
Richard T Crawford
Crawford,jeri S
Quit Claim Deed
related
$36,277,000 · Nevada State Bank
Apr 7, 2011
—
Richard T Crawford
—
Deed Of Trust
related
$3,000,000 · Nevada State Bank
Feb 28, 2005
—
Richard T Crawford
Crawford,richard T & Jeri S
Quit Claim Deed
related
$1,755,000 · Nevada State Bank
Dec 17, 1999
—
Richard T Crawford
Crawford,dianne L
Quit Claim Deed
related
$5,200,000 · Ffca Acquisition Corp
Jan 24, 1997
—
Richard Crawford
—
Grant Deed
related
$1,125,000 · Pioneer Citizens Bank Nevada
Jan 24, 1996
$425,000
Richard T Crawford
Wallcraft INC
Grant Deed
$351,000 · Pioneer Citizens Bank Nevada
—
—
Parliament Props INC
—
Deed Of Trust
related
$37,100,000 · Citizens Bk
—
—
Richard T Crawford
—
Deed Of Trust
related
$900,000 · Nevada State Bank
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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