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Property profile & analytics
OFF-MARKET
Estimated value
$14,705,000
Grocery and convenience stores
7140 Durango Dr Ste 140 Las Vegas, NV 89149-4473
Entity Owned
8-yr Hold
Free & Clear
Property ID
US62-0421058
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2006
Construction
FRAME
Total area
64,733 SF
Lot
10.3 ac (448,668 SF)
APN
125-20-510-021
UPID
US62-0421058
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.71M
Owner & transaction history
Lipt North Durango Drive LLC · 8 yrs held
Lipt North Durango Drive LLC
since 2017
5 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
RETAIL STORES
$24,200,000
Current use
OFFICE BUILDING
$19,605,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$14.71M
Range $13.23M – $16.18M · ±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
$227 / 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
$154,881
Tax year 2023
Assessed value
$6,932,152
Assessed 2024
Previous assessed
$6,418,403
+8.0% YoY
Effective rate
2.23%
On assessed value
Assessed land
$2,826,608
Assessed improvement
$4,105,544
Land market value
$8,076,023
Improvement market value
$11,730,126
Total market value
$19,806,149
Applied tax rate
200.0000
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
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2006
Construction
FRAME
Heating
HEAT PUMP
Buildings
6
Stories
1
Units
1
Total area
64,733 SF
Lot
10.3 ac (448,668 SF)
APN
125-20-510-021
UPID
US62-0421058
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
RETAIL STORES Current
Est. value
$24.2M
OFFICE BUILDING
Est. value
$19.6M
RETAIL STORES Current
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
2006
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Buildings
6
Units
1
Lot
10.3 ac
Current owner
From public records · entity-resolved
Lipt North Durango Drive LLC
Entity
Free & Clear · 8 yrs held
Mailing address
PO BOX 2117, WARREN, MI 48090-2117
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2025
—
Jllx Montecito Marketplace LLC
—
Deed
related
$37,710,000 · State Farm Mutual Automobile Insurance C
Aug 10, 2017
$33,120,000
Lipt North Durango Drive LLC
Np/i & G Montecito Marketplace
Grant Deed
—
Jan 16, 2007
$24,350,000
Np/i Marketplace
Mmp Phase I LLC
Grant Deed
—
Sep 19, 2006
—
Montecito Marketplace LLC
—
Trustees Deed
related
$21,000,000 · Colonial Bank
—
—
Mmp Phase I LLC
—
Deed Of Trust
related
$14,900,000 · Bank Of America
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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